Link here for the July 16 - 17, 2014, conference to be held in Denver, CO.
Bakken Artificial Life and Production Optimization
Examining technical solutions for reducing failure rates, maximizing productivity, and improving run times by optimizing artificial lift design and chemical treatments for Bakken wells, and overcoming challenges related to sand control, gas interference, and wellbore deviation.
Bakken production speakers on the agenda include experts from Triangle Petroleum, Liberty Resources, Halcon Resources, Hess, SM Energy, Whiting and others.
Tuesday, May 27, 2014
Minnesota Oil Boom Has Begun
A huge "thank you" to the reader who sent me this -- taken from an undisclosed location in northern Minnesota:
Note the trailer in background which will move the (unseen) rig to the next location, rumored to be four feet to the left.
My hunch is that none of this is true. Regardless, a huge "thanks" to the reader for sending it my way.
- 1, 3, Koch Brothers, Dayton #1, t3/14; cum 2 bbls 4/14; TD = 6 feet; vertical, not fracked, rumors are it tapped into an Enbridge crude oil pipeline,
Note the trailer in background which will move the (unseen) rig to the next location, rumored to be four feet to the left.
My hunch is that none of this is true. Regardless, a huge "thanks" to the reader for sending it my way.
For Investors Only: Record Number Of Companies Trading At New Highs .... Probably Not, But It's A Lot; Market Closed At A New High
AAPL is up almost 2% -- up another $10.
You don't see this often. Last Friday, just before the long weekend, I posted a link to Dennis Gartman's prediction that "we" were headed for a major market correction. Today, on CNBC, he says he was "abundantly wrong" with regard to that prediction. Had he not come out and done that, he would have lost a lot of credibility. I still don't care for him a whole lot, but I was impressed he would publicly comment on his earlier prediction:
Trading at new 52-week highs include: AAPL, BRK-B, COP, DAVE, DIS, NGLS, NRG, TRGP, TRN, UNP, WFC, WMB.
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. I post companies that interest me. I personally invest in very few of the companies that I list, but they help me keep the Bakken in perspective. In the list above I think I invest in two of the companies listed.
OGE Energy: US Supreme Court declines to hear OG&E's Regional Haze case : The U.S. Supreme Court today denied a petition filed by Oklahoma Gas and Electric and Oklahoma Attorney General Scott Pruitt asking the nation's highest court to review a 10th Circuit Court of Appeals decision on Regional Haze. The question that the Supreme Court declined to review is whether the Environmental Protection Agency acted appropriately in rejecting Oklahoma's plan to address visibility at national parks and wildlife areas.
You don't see this often. Last Friday, just before the long weekend, I posted a link to Dennis Gartman's prediction that "we" were headed for a major market correction. Today, on CNBC, he says he was "abundantly wrong" with regard to that prediction. Had he not come out and done that, he would have lost a lot of credibility. I still don't care for him a whole lot, but I was impressed he would publicly comment on his earlier prediction:
"Having called for a correction, I have been abundantly wrong," Gartman said. A correction is typically defined as a market downturn of 10 percent or more. "I am probably going to be wrong continuing to expect one. It's best to err on the side of remaining quietly bullish," he said.Market hits new highs. WTI oil fluctuating around the $104 ceiling.
Trading at new 52-week highs include: AAPL, BRK-B, COP, DAVE, DIS, NGLS, NRG, TRGP, TRN, UNP, WFC, WMB.
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. I post companies that interest me. I personally invest in very few of the companies that I list, but they help me keep the Bakken in perspective. In the list above I think I invest in two of the companies listed.
OGE Energy: US Supreme Court declines to hear OG&E's Regional Haze case : The U.S. Supreme Court today denied a petition filed by Oklahoma Gas and Electric and Oklahoma Attorney General Scott Pruitt asking the nation's highest court to review a 10th Circuit Court of Appeals decision on Regional Haze. The question that the Supreme Court declined to review is whether the Environmental Protection Agency acted appropriately in rejecting Oklahoma's plan to address visibility at national parks and wildlife areas.
- Last July, a split, three-member panel of the 10th Circuit ruled that the EPA lawfully exercised its authority to reject Oklahoma's state plan and instead impose a federally mandated plan on Oklahoma. OG&E and the Attorney General filed a joint appeal to the U.S. Supreme Court in January.
- "We are disappointed on behalf of our customers," said OG&E spokesman Paul Renfrow. "We still believe that the Oklahoma State Implementation Plan would have enabled us to meet the Regional Haze requirements at a much lower cost. However, we accept the Court's ruling and now turn our attention to meeting the 55-month compliance deadline."
Global Fracking Patents Hit Record Last Year
Huge "thank you"to a reader.
I've often talked about the Bakken as being a laboratory. A reader sends me this link lending support to that argument. The Economic Times is reporting that global fracking patents hit a record last year (2013):
I've often talked about the Bakken as being a laboratory. A reader sends me this link lending support to that argument. The Economic Times is reporting that global fracking patents hit a record last year (2013):
The number of patents filed for new shale extraction technology reached a record high last year as oil and gas companies battled for control of intellectual property in the growing industry, research by Thomson Reuters showed on Tuesday.
In 2013, 706 patent applications were filed worldwide for so-called fracking technology, up 28 percent from the previous year, according to a report published by Thomson Reuters' legal business.
Fracking is the process of drilling and pumping chemicals, sand and water into rocks at high pressure to extract oil and gas.
Many of the patent applications were for systems to provide power to isolated fracking projects and for technology to heat water needed in the fracking process without electricity.
RBN Has A Nice Graphic Compairing Amount Of Condensates Produced Across US Shale
The market takes off today. Why? The LA Times says it is because orders for durable goods rise; durable goods orders unexpectedly up in April.
Active rigs:
RBN Energy: Musings on lifting the condensate export ban. It is amazing to see the proportion of US shale condensate produced by the Bakken, compared to Eagle Ford, D-J, Powder River, Permian, and everything else, including the Utica.
EPA set to unveil climate proposal that gives states flexibility in what measures to take to meet aggressive emissions-cutting goals.
Health-law costs snarl union contract talks. Comes immediately after NY Times story yesterday about new IRS rules and ObamaCare. I've got the post written but put it in draft form to post later, afer the Bakken stories are out for the day.
The Tea Party may be receding elsewhere, but definitely not in Texas.
TrainWreck in the US, but "earthquake" in France: a wave of national soul-searching washed over France as the country's leadership sorted through the political wreckage of the far-right National Front's victory in European Parliament elections.
I will get back to these two stories later if I remember / have the time: In Connecticut, some minimum-wage workers say raise hasn't helped much. Actually, it's much worse than that. The second story, it appears, has already been removed. It was about support for minimum wage in California. I guess the Times editor thought the story should be pulled for some reason. I will watch for it. [Update: I can't find that second story but now the LA Times has an op-ed suggesting that the liberal newspaper is changing its stance on the minimum wage -- perhaps after reading the Connecticut experience.]
LA Times trying to guns rights the issue regarding the Isla Vista/UCSB rampage, forgetting that half the deaths were due to stabbings, and the strongest gun laws would not prevented the rampage.
Active rigs:
| 5/27/2014 | 05/27/2013 | 05/27/2012 | 05/27/2011 | 05/27/2010 | |
|---|---|---|---|---|---|
| Active Rigs | 191 | 187 | 214 | 172 | 117 |
RBN Energy: Musings on lifting the condensate export ban. It is amazing to see the proportion of US shale condensate produced by the Bakken, compared to Eagle Ford, D-J, Powder River, Permian, and everything else, including the Utica.
The Wall Street Journal
EPA set to unveil climate proposal that gives states flexibility in what measures to take to meet aggressive emissions-cutting goals.
Health-law costs snarl union contract talks. Comes immediately after NY Times story yesterday about new IRS rules and ObamaCare. I've got the post written but put it in draft form to post later, afer the Bakken stories are out for the day.
The Tea Party may be receding elsewhere, but definitely not in Texas.
TrainWreck in the US, but "earthquake" in France: a wave of national soul-searching washed over France as the country's leadership sorted through the political wreckage of the far-right National Front's victory in European Parliament elections.
The Los Angeles Times
I will get back to these two stories later if I remember / have the time: In Connecticut, some minimum-wage workers say raise hasn't helped much. Actually, it's much worse than that. The second story, it appears, has already been removed. It was about support for minimum wage in California. I guess the Times editor thought the story should be pulled for some reason. I will watch for it. [Update: I can't find that second story but now the LA Times has an op-ed suggesting that the liberal newspaper is changing its stance on the minimum wage -- perhaps after reading the Connecticut experience.]
LA Times trying to guns rights the issue regarding the Isla Vista/UCSB rampage, forgetting that half the deaths were due to stabbings, and the strongest gun laws would not prevented the rampage.
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