Rare Earths In North Dakota -- Brand New Study Released By NDGS -- 2017

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For complete listing of NDSG publications, etc. click here.

The Minot Daily News is reporting: North Dakota Geological Survey has just published a report on rare earths, a two-year study.

• the study is the most comprehensive study of rare earths in coal ever done in western North Dakota and discovered that North Dakota lignites contain some of the highest concentrations of rare earth elements in the nation
• North Dakota samples rank in the top 20 of coal samples nationwide for concentrations of rare earths, with one sample being the fifth highest concentration recorded at 603 ppm, twice the U.S. Department of Energy’s potential economic threshold
• the US Department of the Interior state that the U.S. is 100 percent reliant on 20 minerals, and rare earth minerals are produced almost exclusively in China
• coal and organic-rich rock samples were collected from 64 sites in McKenzie, Billings, Golden Valley, Slope and Bowman counties and an additional site in Morton County,” said Survey Geologist Ned Kruger
• a total of 352 rock samples were analyzed for rare earths, of which 277 lignite samples averaging 120 parts per million total rare earth elements, twice the published average for U.S. coals.

Games Today -- NCAA Football -- December 28, 2017

Today, Central Time:

• 12:30 p.m. -- Virginia, Navy -- not interested
• 4:15 p.m. -- Virginia Tech (22) vs Oklahoma State (17) -- no interested
• 8:00 p.m. -- Washington State (21) vs Michigan State (18) -- somewhat interested
• 8:00 p.m. -- Stanford (15) vs TCU (13) -- not interested

Wow, that's a sad commentary on where my life is. LOL.

But I did watch Tinker, Tailor, Soldier, Spy again (for the umpteenth time) last night, and I saw something I had not seen before. A really brilliant bit of writing and filming.

Re-Balancing Now Down To 28 Weeks. The Weekly Petroleum Report -- December 28, 2017; Gasoline Demand Jumps

Data points:

• US crude oil inventories decreased by 4.6 million bbls (elsewhere it was said that this was more than expected) -- now in the middle of the average range for this time of the year -- this is the first time this comment has been made in quite some time
• refinery operating capacity: a nice jump -- nearing 96% (reported: 95.7%)
• gasoline production increased, now at 10.2 million bopd
• distillate fuel production also increased, now at 5.5 million bopd
• gasoline inventories actually decreased, but distillate inventories increased
• here's the "gasoline demand" graphic --
  
  
  Link here.
  
  
  

Re-balancing:

Week	Date	Drawdown	Storage	Weeks to RB
Week 0	Apr 26, 2017		529.0	180
Week 1	May 3, 2017	0.9	528.0	198
Week 2	May 10, 2017	6	522.0	50
Week 3	May 17, 2017	1.8	520.2	59
Week 4	May 24, 2017	4.4	515.8	51
Week 5	May 31, 2017	6.4	509.9	41
Week 6	June 7, 2017	-3.3	513.2	60
Week 7	June 14, 2017	1.7	511.5	57
Week 8	June 21, 2017	2.5	509.0	62
Week 9	June 28, 2017	-0.2	509.2	71
Week 10	July 6, 2017	6.3	502.9	58
Week 11	July 12, 2017	7.6	495.3	47
Week 12	July 19, 2017	4.7	490.6	43
Week 13	July 26, 2017	7.2	483.4	38
Week 14	August 2, 2017	1.5	481.9	46
Week 15	August 9, 2017	6.5	475.4	35
Week 16	August 16, 2017	8.9	466.5	30
Week 17	August 23, 2017	3.3	463.2	29
Week 18	August 30, 2017	5.4	457.8	27
Week 19	September 7, 2017	-4.6	462.4	32
Week 20	September 13, 2017	-5.9	468.2	39
Week 21	September 20, 2017	-4.6	472.8	46
Week 22	September 27, 2017	1.8	471.0	46
Week 23	October 4, 2017	6.0	465.0	41
Week 24	October 12, 2017	2.8	462.2	40
Week 25	October 18, 2017	5.7	456.5	37
Week 26	October 25, 2017	-0.9	457.3	39
Week 27	November 1, 2017	2.4	454.9	38
Week 28	November 8, 2017	-2.2	457.1	42
Week 29	November 15, 2017	1.9	459.0	43
Week 30	November 22, 2017	1.9	457.1	42
Week 31	November 29, 2017	3.4	453.7	41
Week 32	December 6, 2017	5.6	448.1	37
Week 33	December 13, 2017	5.1	443.0	36
Week 34	December 20, 2017	6.5	436.5	30
Week 35	December 28, 2017	4.6	431.9	28

Re-balancing projections are based on returning to 350 million bbls in storage (not including SPR) and starting from May 3, 2017. If the re-balancing were to go to 400 million bbls then re-balancing would project out to only eleven (11) more weeks.

What Does Whiting See In Alger / Robinson Lake -- December 28,107

From the January, 2018, NDIC hearing dockets:

• 26334, Whiting, Alger-Bakken 8 wells on a 640-acre unit, section 13-155-93; Mountrail County
  26335, Whiting, Robinson Lake-Bakken, 11 wells on a 1280-acre unit, sections 24/25-155-93; Mountrail County

The graphic:

The existing wells:

• 23566, 845, Whiting, Kjos 14-13H, Alger, t10/12; cum 87K 10/17;
• 25385, 899, Whiting, Liebl 31-13TFH, Alger, t8/13; cum 92K 10/17;
• 25386, 1,142, WHiting, Liebl 31-13H, Alger, t8/13; cum 126K 10/17; still F;

• 21462, 866, Whiting, Klefstad 24-25H, Robinson Lake, t3/12; cum 177K 10/17;
• 24736, 267, Whiting, Meiers 34-25TFH, Robinson Lake, t7/13; cum 61K 10/17;
• 18700, 668, Whiting, Meiers 44025H, Robinson Lake, t5/10; cum 142K 10/17;
• 24925, 262, Whiting, Meiers 43-25TFH, Robinson Lake, t7/13; cum 71K 10/17;

Comments: The existing wells are not good wells, and yet they are in the sweet spot of the Bakken. In addition, Whiting is going to significantly increase the number of wells in these two drilling units (one, a 640-acre unit; the other, a 1280-acre unit). One well is still flowing (at least according to NDIC) even though it was drilled four years ago. It will be very interesting to see how these new wells perform.

Thursday, December 28, 2017

Jobs: initial claims unchanged -- at 245,000. Four-week moving average minimally changed.

Active rigs:

$59.68	12/28/2017	12/28/2016	12/28/2015	12/28/2014	12/28/2013
Active Rigs	51	38	61	173	187

RBN Energy: top 10 RBN blogs in 2017.