Seven (7) New Permits -- Bakken, North Dakota, USA

Daily activity report -- June 17, 2011 ---

Drillers: BEXP (2), Slawson (2), Hess, Petro-Hunt, Burlington Resources

Fields: Sandrocks, Poe, Dublin, Truax, Van Hook, and a wildcat.

BR has the wildcat in McKenzie Country.

Meanwhile, producing wells that were completed, included:

• 18624, 1,656, Oasis, Odin Jorgenson 5502 44-8H, Williams
• 19337, 772, Whiting, Mann 21-18TFH, Stark -- a nice TF well in southwestern North Dakota

So Much For Global Warming Causing Coastal Flooding

Link here.

Not only has data been manipulated, but even without the padding, the predictions of US-flooded coastlines are facetious.

The research center padding this data was caught red-handed, has admitted it, and has a non-global-warming explanation:

Steve Nerem, the director of the widely relied-upon research center said that his group padded the 0.3 millimeters per year to the actual sea level measurements because land masses, still rebounding from the ice age, are rising and increasing the amount of water that oceans can hold.

"We have to account for the fact the ocean basins are actually getting slightly bigger -- water volume is expanding," he said, a phenomenon they cal glacial isostatic adjustment (GIA). 

I can't make this stuff up.

ObamaCare Will Stop Accepting Waiver Requests After September, 2011

Link here.

Even before reading the article, my first thought was that the union presidents had all notified the president that no more unions would be submitting waivers, and there it was, in the third paragraph:

The government is closing down the program because there's no need for new applications, Steve Larsen, director of the Center for Consumer Information and Insurance Oversight, said during a call with reporters. "For the vast majority of plans that would need a waiver, those are the ones that would have applied and did apply this year," said Larsen, whose office is implementing the law's regulations on health insurers.

In 2014, the waivers expire. Yup.

Update on Wells on "DRL" Status

Regular followers of this blog know that I post results of all wells that come off the confidential list on a daily basis. These can be found on the NDIC daily activity report. I post the results here (for the current quarter; I will start a new page for the next quarter).  Wells come off the confidential on weekend days also but are not reported until Monday, so Mondays usually have a number of new wells reporting.

Unfortunately, due to the backlog in fracking more and more wells coming off the confidential list are still in DRL status, waiting to be completed, fracked, and tested.

When the wells are completed, and tested, a quirk in the system does not result in them being reported again on the daily activity report. I go back periodically and see if these wells have been completed and tested.

Here are the most recent wells that were reported in DRL status but have now been completed, fracked, and tested.

It's a pretty representative sample.

19185, 1,377, XTO, Alwin Federal 12X-19, Lost Bridge, Bakken
19152, 2,538, Oasis, Hagen 5792 44-31H, Wildcat, Bakken; 2,538 bbls in first four days of production
19408, 813, MRO, Trinka 41-18H, Bailey, Bakken
19104, 1,203, Helis, Henderson 16-34/27H, Grail, Bakken
19390, 2,904, SM, Broderson 13-35H, Siverston, Bakken
18993, 884, MRO, Rosa Benz 44-23H, Bailey, Bakken
19477, 435, ERF, Eagles Nest 34-44H, McGregory Buttes, Bakken, 30K in first first 37 days
19187, 510, XTO, Elaine Federal 12X-19, Lost Bridge, Bakken (tested 5/8/11 -- no production data yest)
19486, 766, Slawson, Genesis 2-13H, Van Hook, Bakken
19635, 217, Newfield, Christensen 159-102-17-20-1H, Wildcat, Bakken

For Investors: CHK Increases Dividends; Expects More Of The Same In Coming Years

Link here.

Chesapeake said Monday it raised its common-stock dividend by 17%, marking the natural-gas company's first increase since June 2008.

Chesapeake Energy, the second-largest U.S. natural-gas producer after Exxon Mobil Corp., joins a long list of companies that have increased payouts to shareholders in recent months using stockpiled cash. Last month, Chesapeake Energy reported that it swung to a first-quarter loss on steep derivatives losses and a 42% drop in revenue as energy prices declined, while production increased from a year ago.

The story suggests that the announced dividend increase was the board's answer to dissatisfied shareholders.