WTI: un-moved.
The next two graphs are particularly interesting:
Wednesday, April 12, 2017
Crude Oil Inventory: 2.2 Million Bbl Drawdown -- April 12, 2017
Fox Business News -- 9:32 a.m., April 12, 2017. See this note from yesterday -- CNBC "leaked" this report a day earlier (?).
WTI: un-moved.
The next two graphs are particularly interesting:
WTI: un-moved.
The next two graphs are particularly interesting:
Newbies May Be Interested In Older Well With Bump In Production -- April 12, 2017
Newbies may be interested in this, posted earlier this morning.
One well coming off confidential list Wednesday:
This is really, really cool. When we lived in San Antonio, one of our favorite restaurants was the Acadiana Cafe. I was always curious about the name but not curious enough to see if I could find the origin of the name. It turns out to be very, very straightforward, and I'm about the only one, I'm sure, who did not know the etymology.
Tonight I'm re-reading Atom: An Odyssey from the Big Bang to Life on Earth ... and Beyond, by Lawrence M. Krauss, c. 2001. From page 217:
One well coming off confidential list Wednesday:
- 32559, 1,416, Whiting, Flatland 43-9HU, Banks, 4 sections, 35 stages, 9.6 million lbs, t10/16; cum 97K 2/17; (25802, see this link)
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Notes For The Granddaughters
This is really, really cool. When we lived in San Antonio, one of our favorite restaurants was the Acadiana Cafe. I was always curious about the name but not curious enough to see if I could find the origin of the name. It turns out to be very, very straightforward, and I'm about the only one, I'm sure, who did not know the etymology.
Tonight I'm re-reading Atom: An Odyssey from the Big Bang to Life on Earth ... and Beyond, by Lawrence M. Krauss, c. 2001. From page 217:
I grew up in Upper Canada, as those from the eastern provinces like to call it ... I have since learned to appreciate the depth of humanity that seems to overcome the poverty and loneliness that can go along with a sea-based economy.
Natives of Nova Scotia and New Brunswick, like their Scottish and Irish ancestors, are professional storytellers. The true masters among them come from the northeastern corner of Nova Scotia, Cape Breton Island, which is separated by a very narrow strait from the rest of the province.
Here Celtic roots combine with traces left from the Acadians, the French populace who were forced out of this area by the British over 200 years ago. Some of the expelled Acadians later settled in Louisiana, where the word Acadian evolved into the term cajun.
The Energy And Market Page, T+81 -- April 12, 2017
Bakken boom: Williston's school district is studying need for yet another new school. I love the second of these two next paragraphs, just thinking about all those happy, smiling kids, really, really, enjoying what the Great Plains have to offer:
Hess: shares could rally 60% in the next year -- Bank of America. I don't follow Hess share price so have no comment. However, Hess has placed a lot of new infrastructure in place in North Dakota and it seems natural gas is becoming a bigger and bigger deal for the oily Bakken.
Coal: China buys more coal; slows purchases of coal from North Korea.
Alaska pipeline: yet another story on challenges for the 800-mile Trans Alaska Pipeline System due to very sluggish flow due to low volume. Alaska's output was 565,000 bopd last month, down from a peak of more than 2 million in 1988. I think they've been talking about this problem for years.
Trend: it appears most blog sites / most business articles suggest oil will trend higher toward the end of 2017.
OPEC staying true to their word? OPEC cut oil output in March by more than pledged.
More OPEC: wow. From twitter -- former advisor at Saudi Arabia's oil ministry, now the World Energy Council vice chairman, says oil market needs $70 - $80 over the next decade to balance. That's a far cry from the $100 that Saudi Arabia used to base their annual budget on, and the vice chairman is talking about a) the next; and, b) the decade. That's a long time.
WTI: trending up; around $53.
Peak oil? What peak oil? From the EIA:
Note that the Gulf of Mexico will not reach 2 million bopd even by the end of 2018 (forecast) and yet the Bakken could produce 2 million bopd if unfettered (forecast). Just helping me to put things into perspective. The USGS says the Permian is 3x larger than the Bakken, which takes us to 6 million bopd, and then, of course, we have SCOOP/STACK, and the Niobrara. The EIA estimates that the US will produce 9.9 million bopd in the next couple of years.
Williston’s population has grown by 65 percent since 2010, according to the latest estimates by the U.S. Census Bureau. The school district enrolled 3,780 students in fall 2016 — a 60 percent increase from the 2009-10 school year.
Disclaimer: this is not an investment site. Do not make any investment, financial, travel, job, or relationship decisions based on what you read here or what you think you may have read here.While enrollment continued to rise even amid a downturn, it isn’t the source of alarm. It’s instead the birth rate and the few years before those newborns become the district’s incoming kindergarteners.
Hess: shares could rally 60% in the next year -- Bank of America. I don't follow Hess share price so have no comment. However, Hess has placed a lot of new infrastructure in place in North Dakota and it seems natural gas is becoming a bigger and bigger deal for the oily Bakken.
Coal: China buys more coal; slows purchases of coal from North Korea.
Alaska pipeline: yet another story on challenges for the 800-mile Trans Alaska Pipeline System due to very sluggish flow due to low volume. Alaska's output was 565,000 bopd last month, down from a peak of more than 2 million in 1988. I think they've been talking about this problem for years.
Trend: it appears most blog sites / most business articles suggest oil will trend higher toward the end of 2017.
OPEC staying true to their word? OPEC cut oil output in March by more than pledged.
More OPEC: wow. From twitter -- former advisor at Saudi Arabia's oil ministry, now the World Energy Council vice chairman, says oil market needs $70 - $80 over the next decade to balance. That's a far cry from the $100 that Saudi Arabia used to base their annual budget on, and the vice chairman is talking about a) the next; and, b) the decade. That's a long time.
WTI: trending up; around $53.
Peak oil? What peak oil? From the EIA:
Note that the Gulf of Mexico will not reach 2 million bopd even by the end of 2018 (forecast) and yet the Bakken could produce 2 million bopd if unfettered (forecast). Just helping me to put things into perspective. The USGS says the Permian is 3x larger than the Bakken, which takes us to 6 million bopd, and then, of course, we have SCOOP/STACK, and the Niobrara. The EIA estimates that the US will produce 9.9 million bopd in the next couple of years.
The Political Page, T+81 -- Apriil 12, 2017
Trump wins special election in Kansas. It's sort-of-big news that he won; it would have been a shot heard 'round the world had he lost. Dems apparently poured money into this race and predicted a Democratic win. I don't know. I just saw the results.
Another book in the O'Reilly series? The end of his show?
Another book in the O'Reilly series? The end of his show?
Back To 51 Active Rigs -- Aprll 12, 2017
Active rigs:
RBN Energy: oil-weighted E&Ps anticipating surge in capital spending in 2017.
Scott Adams: robots read news about United Airlines.
| 4/12/2017 | 04/12/2016 | 04/12/2015 | 04/12/2014 | 04/12/2013 | |
|---|---|---|---|---|---|
| Active Rigs | 51 | 30 | 93 | 190 | 186 |
RBN Energy: oil-weighted E&Ps anticipating surge in capital spending in 2017.
Scott Adams: robots read news about United Airlines.
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