Bakken operations
Basin Power Electric Cooperative to triple capacity at new Watford City site
Tectonic changes in crude oil movement
ONEOK won't go forward with Bakken Crude Express Pipeline
TAM International setting up Bakken regional headquarters in Dickinson
Enbridge Announces Enbridge Rail
Trican, another well services company, opens in Minot
First Bakken unit train arrives in Tacoma, Washington
Bakken deals
Magnum Hunter Resources to acquire 20,000 acres from Samson Resources for $30 million in cash
North Dakota State Budget
Random update
Economic development
John Deere expands in Valley City
Mid-America Region survey: North Dakota number one in expanding economy
Update on the 90-day hotel going up in Alexander
Human interest
The first Bakken well
Friday, November 30, 2012
Williston Wire Stories -- The Bakken
No links. It is easy to subscribe to the Williston Wire.
North Dakota named best-run state, 24/7 Wall Street, a respected financial news outlet.
A record 634 North Dakotans reported incomes of more than $1 million on their 2011 individual tax returns; up from 532 in 2010; largely due to royalties paid to mineral owners by oil companies. Average adjusted gross income in North Dakota increased from $53K in 2010 to $61K in 2011.
North Dakota's airline industry is booming; boardings are up almost 20%. Minot's boardings increased by 53% this past October compared to October one year earlier.
Employment is soaring in the Bakken: employment in the state's oil patch has increased by about 50 percent over the past three years.
The reason NDIC approved a series of 14 wells on two overlapping 2,560-acre spacing units was to minimize the effects on the city of Ambrose. Samson Resources is doing the drilling.
Alexander Lodge, a crew camp, officially held its grand opening; $75/night special through the end of the year. 360 private bedrooms with 10 rooms in each individual housing unit.
ALCO Store opens in Tioga; staff of 40.
North Dakota named best-run state, 24/7 Wall Street, a respected financial news outlet.
A record 634 North Dakotans reported incomes of more than $1 million on their 2011 individual tax returns; up from 532 in 2010; largely due to royalties paid to mineral owners by oil companies. Average adjusted gross income in North Dakota increased from $53K in 2010 to $61K in 2011.
North Dakota's airline industry is booming; boardings are up almost 20%. Minot's boardings increased by 53% this past October compared to October one year earlier.
Employment is soaring in the Bakken: employment in the state's oil patch has increased by about 50 percent over the past three years.
The reason NDIC approved a series of 14 wells on two overlapping 2,560-acre spacing units was to minimize the effects on the city of Ambrose. Samson Resources is doing the drilling.
Alexander Lodge, a crew camp, officially held its grand opening; $75/night special through the end of the year. 360 private bedrooms with 10 rooms in each individual housing unit.
ALCO Store opens in Tioga; staff of 40.
Only Two (2) New Permits; Slawson, BR, and Whiting Each With a Nice Well
Maybe a reader will know the answer to this question:
New permits --
Producing wells completed:
Burlington Resources has a permit for another "Midnight Run" well in the Union Center oil field. There is a "new" abbreviation in the name: "ULW" ---Thank you.
I'm curious if anyone knows what the designation "ULW" means.
- #24537, loc, BR, Midnight Horse 11-1MBH-ULW
***********************
New permits --
- Operators: BR, Slawson
- Fields: Union Center (McKenzie)
- Comments: Slawson has a permit for a wildcat in McKenzie County
Producing wells completed:
- 22410, 212, Slawson, Ann Nelson (Federal) 3-31-30H, Ross, t10/12; cum 4K 9/12;
- 21398, 1,063, Slawson, Wolverine Federal 4-31-30TFH, Elm Tree, t9/12; cum 40K /12;
- 20823, 2,880, BR, Arches 44-35TFH, Keene, t6/12; cum 76K 9/12;
- 23580, 1,295, Whiting, Iverson 41-14H, Sanish, t10/12; cum --
Pick a Number, Any Number: In This Case: 15
Link here to SeekingAlpha.com: Whiting is worth $15 billion.
Whiting's market value today is about $5 billion.
What is Whiting worth? I think one can make a case for almost any number between $4.9 billion to $100 billion. I did the math on the back of an envelope, then lost the envelope, and don't want to go through the exercise again. Trust me. Somewhere between $4.9 billion and $100 billion.
SeekingAlpha.com's $15 billion is at the lower end of that range.
Whiting's market value today is about $5 billion.
What is Whiting worth? I think one can make a case for almost any number between $4.9 billion to $100 billion. I did the math on the back of an envelope, then lost the envelope, and don't want to go through the exercise again. Trust me. Somewhere between $4.9 billion and $100 billion.
SeekingAlpha.com's $15 billion is at the lower end of that range.
Another Solar Company Goes Bust
To the list of "36" in the original post, we can now add another solar company that has gone bust: Twin Creeks Technologies. This is their $26 million website.
I assume this link will break soon -- the website is a single page,
completely white except for a "sunburst" icon and "twincreeks
technologies" all in lower case. That's the website. I can't make this
stuff up. Here's the story:
Mississippi taxpayers may have only an empty Senatobia building and some solar panel equipment to show for nearly $26 million in loans provided to Twin Creeks Technologies.
The California-based solar technology firm is liquidating, and a company that bought Twin Creeks' assets does not intend to take over its agreement with Mississippi. The contract called for Twin Creeks to invest at least $132 million and create at least 500 jobs.Federal money --> solar company start-ups --> executive compensation --> executives donate to election campaigns of their choice if they desire --> election over --> 38 solar companies declare bankruptcy. I'm sure that did not happen, but it would be a great novel. Or a Harvard business school case study of moving money around in a society with "eyes wide shut."
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