Random Photos From Stockyard Creek, The Bakken, The Williston Basin

This is something new for me; I had not seen this before. Operators are laying down a "wooden mat" to combat the muddy roads leading up to the drilling pads:

A random photo of a four-well KOG pad. The KOG pads are absolutely exquisite in the Stockyard Creek; absolutely first rate in appearance. I was very, very impressed.

I had forgotten about all the "electric vehicles" in the Bakken. Here's a random photo of one such electrical vehicle. According to the owner, she is not impressed with the mileage:

Update On MRO Tyler Wildcat Well, The Powell Well --

On April 27, 2014, I noted:

Two of the MRO Tyler wildcat wells come off the confidential list Monday (April 28, 2014); no production data reported yet; I track these wells here. [Later: I am being told by a reader/good source that the Powell well comes off the confidential list June 25th, not tomorrow as reported on the NDIC website.]

On Monday, April 28, 2014, I updated the original post to report the wells coming off the confidential list. I was able to access the file report for the Powell report, suggesting that it had indeed come off the confidential list:

• 26335, drl, MRO, Powell 31-27TH, wildcat, no production data, geology report not filed yet;

A reader asked if there was any more information on the Powell well. I went to the NDIC site tonight (just a few minutes ago) to check on the Powell well. As noted above, I was able to access the file report for the Powell report on Monday, April 28, 2014 -- just two days ago. I noted that the well was on DRL status and I noted that "the geology report had not yet been filed." At least it was not yet available.

It appears the reader was correct: that the Powell well does not come off the confidential list until later; the reader says June 25th. It's my experience that readers are often correct when they write me about my own errors or if there is "factual" reporting in error (if that makes sense).

Tonight, the file report for the Powell well is back on "confidential" status, and it appears that it was never supposed to have come off confidential status until later. I don't recall what I saw on the Powell file report two days ago, but I believe it was simply a planning report and that it confirmed MRO was targeting the Tyler.

This was from a personal e-mail received from an individual who visited the Powell site on Sunday, April 20, 2014:

Sunday afternoon my friend and I drove out to the Powell well and the Rundle trust well. At the Powell well, nothing has changed in three (3 )months ... ten (10) frac trucks setting on site, along with tanks and a oil/water separator.

For Investors Only: KOG Reports Tomorrow

Companies reporting earnings Thursday:

• Baytex Energy (BTE.TO): 38 cents vs 8 cents one year earlier
• Black Hills Corporation: 93 cents; after market close
• CenterPoint Energy: 31 cents before market open; actual -- beats  by 11 cents;
• COP: $1.56 before market open; actual "easily beat"; $1.71
• Enterprise Products Partners: forecast 75 cents; beats by 2 cents;
• XOM: $1.88 before market open; actual: "handily beat" -- $2.10
• KOG: 18 cents after market close
• Linn Energy LLC: 38 cents,
• Marathon Petroleum Corp (MPC): $1.05 before market open; actual: misses by 39 cents; refinery maintenance
• Targa Resources Partners (NGLS): forecast 49 cents; actual beats by 18 cents;

Comment: overall -- these seem to be incredible results, coming off a tough winter. 

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Democratic-Controlled Senate Defeats Minimum Wage Bill; 

Senator Harry Reid Votes No

The vote was 54-42 in favor of allowing debate on the measure to proceed, six votes short of the 60 that Democrats needed to prevail. Sen. Bob Corker, R-Tenn., was the only Republican to cross party lines and vote "yes." Reid switched his vote to "no," which gives him the right to call another vote on the measure. No other Democrats opposed the bill.

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For the archives:

The bonds were sold with yields ranging from 1.07 per cent for $1.5bn in three-year securities to 4.49 per cent for the $1bn 30-year tranche. The $2.5bn notes maturing in 10 years were sold at 3.46 per cent.

These bonds were heavily subscribed, according to the linked source: 1.07% to 4.49%. How incredible is that? One point oh seven percent for three year bonds. Apple is getting some really "cheap" money.

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For the record: White House cover-up of a cover-up -- the Benghazi tragedy -- not reported in The New York Times. Not reported in four hours of prime time on CNN. Of the "big media outlets," only The Washington Post reported the story -- on page 17.

Apologies To All For My Delayed Posting; I'm Traveling And Not On The Net As Much; Fourteen (14) New Permits; Lynchburg, VA, Crude Oil Probably Bakken Crude Oil; More People Killed In Wind Farm Accidents Than CBR Derailments In USA?

Gradually catching up.

Lynchburg, VA, crude oil derailment not linked at Drudge Report yet; front page story at LA Times. Front page story at on-line WSJ, but small headline "below the fold."From the WSJ: 

The train was traveling from Chicago. It was unclear where the crude shipment was headed, but there is one oil train terminal in Virginia. The Yorktown, Va., storage and shipping site owned by Plains All American Pipeline LP began receiving shipments of crude by rail in December, according to a securities filing. Bakken oil produced in North Dakota is railed to Yorktown where it can be loaded on barges and shipped north to East Coast refineries, one expert said. Plains didn't return calls for comment.

Irony? hopefully there were no injuries in the crude oil derailment. Four were killed when a small private plane flies into "wind farm windmill." It was noted that this story -- a most unusual story to say the least -- was not picked up by the mainstream media.

This is not the first time a plane has crashed into a wind farm--in 2008 near southeast Minnesota, poor weather caused the pilot of a 1948 Cessna 140 to lose control while trying to fly around wind turbines.

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Rigzone is reporting: An explosion in a West Texas oil field near the border with New Mexico left at least two dead and nine injured Wednesday morning, the Associated Press said. The workers were changing a wellhead when the buildup of pressure caused the explosion. 

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Disclaimer: this is not an investment site. Do not make any investment decisions based on what you read here or what you think you may have read here. 

Earnings today:

• Enbridge Energy Partners (EEP): expectations, 20 cents; actual -- in line; declares distribution of $0.5435/unit
• Hess: expectations, $1.02; actual -- profit drops from a year ago; results boosted by gain from sale of some properties; net income comes in at $1.20/share (compared to $3.72/share one year ago)
• MDU: expectations, 33 cents; actual --- in line; see below;
• Murphy Oil: expectations, 96 cents; actual -- beats by 2 cents;
• PSX: expectations, $1.34; actual: $1.47/share but without excluding a one-time gain, the actual earnings were $2.23/share.
• Whiting: expectations, 96 cents; actual -- beats by 9 cents; profit jumps 27%;
• Williams Companies: expectations, 26 cents; actual -- beats by 2 cents; profit drops 13%

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MDU Resources reports EPS in-line, beats on revs; raises FY14 EPS guidance in-line : Reports Q1 (Mar) earnings of $0.32 per share, excluding non-recurring items, in-line with the Capital IQ Consensus Estimate consensus of $0.32; revenues rose 11.9% year/year to $1.04 bln vs the $0.97 bln consensus.

• Co raises FY14 EPS guidance, sees EPS of $1.50-1.65 vs. $1.59 Capital IQ Consensus Estimate, up from $1.45-1.60.
• "A $653 million backlog at construction materials is a very strong position from which to begin the construction season. We continue to grow oil production and are confident that we will achieve our upwardly revised 2014 target of 15 to 20 percent oil growth over last year." 

• "A $653 million backlog at construction materials is a very strong position from which to begin the construction season. We continue to grow oil production and are confident that we will achieve our upwardly revised 2014 target of 15 to 20 percent oil growth over last year." 

• "A $653 million backlog at construction materials is a very strong position from which to begin the construction season. We continue to grow oil production and are confident that we will achieve our upwardly revised 2014 target of 15 to 20 percent oil growth over last year." 

• "A $653 million backlog at construction materials is a very strong position from which to begin the construction season. We continue to grow oil production and are confident that we will achieve our upwardly revised 2014 target of 15 to 20 percent oil growth over last year."

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 Active rigs:

	4/30/2014	04/30/2013	04/30/2012	04/30/2011	04/30/2010
Active Rigs	187	185	210	173	112

Fourteen (14) new permits --

• Operators: MRO (6), BR (3), Whiting (2), Denbury, QEP, Enduro
• Fields: Lost Bridge (Dunn), Reunion Bay (Mountrail), Johnson Corner (McKenzie), Lonesome (McKenzie), Cedar Hills (Bowman), Grail (McKenzie), Glenburn (Renville)
• Comments:

Wells coming off confidential list were posted earlier; see sidebar at the right.

Three (3) producing wells completed:

• 25722, 657, Petro-Hunt, MM Wold 160-94-31A-6-7H, North Tioga, t4/14; no production data,
• 26050, 72, Samson Resources, Almos Farms 0112-5TFH, Ambrose, no production data,
• 26128, 413, CLR, Perch 1-30H1, Park, t3/14; cum 5K 3/14;

More stringent road restrictions go into effect today in the Bakken.

Active rigs:

4/30/2014	04/30/2013	04/30/2012	04/30/2011	04/30/2010
Active Rigs	187	185	210	173	112

 

Wells coming off confidential list Thursday:
I normally don't post these so early, but in case I am off-line tonight longer than expected, these are the wells that come off confidential list Thursday:

• 25403, 1,004, QEP, MHA 4-10-11H-149-91, Heart Butte, t2/14; cum 2K 2/14;
• 25879, drl, Samson Resources, Comet 2635-7H,  Ambrose, no production data,
• 26001, 992, Oasis, Kelter 7-6HTF2, Eightmile, no production data,
• 26247, drl, SM Energy, Orlynne 2-3H, West Ambrose, producing,
• 26600, drl, BR, Sequoia 24-9TFH, Hawkeye, no production data,
• 26637, 354, Hunt, Bear Butte 1-12-1H, Bear Butte, t1/14; cum 25K 3/14