Busy, Busy, Busy Day -- October 29, 2014

I've posted the results of the wells that come off confidential list today.

Hess is having a big day; more on that later. Phillips 66 doubled its profits.

There is every possibility that for the next few days, until I get it out of my system, I will post a lot of snarky comments about all the businesses that are being created by the US government in the Bakken, at least according to Hillary. Bear with me. This, too, will pass.

I will also continue to link stories from Ice Age Now, Real Science, Climate Depot, and other sites that support alternative views to Algore on global warming, or whatever he's calling it now.

I have no idea where the Ebola story will lead, but I posted my true feelings about the epidemic some weeks ago. From my perspective, none of the major political leaders in the news have made any missteps in dealing with the issue from where they stand. But I will continue to mix it up; sarcasm with non-sarcasm. Like Sheldon on "Big Bang Theory," a lot of readers do not recognize sarcasm. That makes it all the more fun, again, as noted by the laugh track on "Big Bang Theory" when Sheldon misses the sarcasm.

I am always serious when I write about the Bakken; everything else (non-Bakken) is fair game for comment and commentary. In addition, I am always serious with my "Notes to the Granddaughters."

In a few minutes I will be off the net for awhile. I will be looking for a television with Rachel Ray (10:00 a.m. CDT, I believe). Our granddaughter's school class -- 6th grade -- should be featured on the show.

It's going to be a busy, busy, busy day but I got the most important stuff posted. Good luck to all.

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Notes To The Granddaughters

In this morning's episode of Rachel Ray, ABC, there was a very short segment on Tugg. Our older granddaughter is involved in a community project to rescue abandoned dogs and cats. As part of the project, they invited Tugg to visit them; that visit was recorded on Rachel Ray. Our older granddaughter is seen briefly in two or three shots in the following video. I can't explain the "clicking" sound in the video. I was using a very expensive Canon camera. My wife was using her new iPhone 6 to record this, and her video came out better than mine. Just saying.

Tugg, Rachel Ray, ABC

Cow Creek

It looks like it is time to look at Cow Creek. I will do that later. Here are the Cow Creek wells that will come off confidential list today, October 29, 2014:

• 24909, 2,090, Oasis, Kaleb 5501 12-1B, Cow Creek, t7/14; cum 18K 8/14;
• 25764, drl, Oasis, Hannah Kaydence 5501 12-1T, Cow Creek, producing,
• 27113, 658, Oasis, Hagen Banks 5298 42-31 3T, Banks, t7/14; cum 32K 8/14;
• 27245, 1,505, Oasis, Tufto 5501 11-13 3T, Cow Creek, t6/14; cum 24K 8/14;
• 27246, 2,237, Oasis, Tufto 5501 11-13 2B, Cow Creek, t5/14; cum 37K 8/14;
• 27250, 398, Oasis, Tufto 5501 13-13 4T, Cow Creek, t6/14; cum 26K 8/14;
• 27251, 1,013, Oasis, Tufto 5501 13-13 6T, Cow Creek, t6/14; cum 24K 8/14;

Cow Creek is a small field, 4 x 4 sections = 16 sections, directly north of Williston, At the moment, the south line of Cow Creek is at the northernmost edge of Williston.

Stockyard Creek -- October 29, 2014

I sure get a kick out of "little" Stockyard Creek just east of Williston -- the little engine that could. Yesterday, KOG reports two "high IP" wells in that field:

• 26424, 2,189, KOG, P Manning 154-99-2-2-11-14H, Stockyard Creek, t9/14; cum -- 
• 26422, 2,144, KOG, P Manning 154-99-2-2-11-15, Stockyard Creek, t9/14; cum --

And it seems there is at least one new permit for Stockyard Creek at every week.

It's not updated, but I follow the Stockyard Creek field here.

Hess Beats Estimates; PSX Profit Doubles -- October 29, 2014

Updates

PSX: profit doubles; beats by 27 cents; costs slide; 

Hess: beats estimates; Bakken production surges; shares up:

Hess posted a better-than-expected quarterly profit on Wednesday as production jumped in North Dakota's Bakken shale formation.

Net income surged to $1 billion, or $3.31 per share, in the third quarter from $420 million, or $1.23 per share, in the year-ago period.

Excluding recent asset sales and other one-time items, the company posted profit of $1.24 per share.

Southern Company (SO): beats by 2 cents;

Newfield: beats by one cent (yesterday)

SM Energy: misses by two cents (yesterday)

PSXP: misses by three cents

STR: beats by four cents

WLL: which is it?

• AP headline: Whiting misses Street 3Q forecasts ($1.24 vs $1.25)
• Reuters: Whiting profit beats Street as North Dakota output jumps; 

Whiting Petroleum Corp posted a higher-than-expected quarterly profit on Wednesday as production rose 33 percent at its North Dakota wells. Denver-based Whiting posted net income of $158 million, or $1.32 per share, compared with $204 million, or $1.71 per share, in the year-ago period. Excluding one-time items, the company earned $1.24 per share. By that measure, analysts expected earnings of $1.21 per share, according to Thomson Reuters I/B/E/S.

WMB: misses by 3 cents but confirms dividend-growth guidance of ~ 15% annually -- from the higher 3Q14 base -- through 2017 with planned dividends of ~ $1.96 in 2014, $2.46 in 2015, $2.82 in 2016, $3.25 in 2017. Shares surge over 3%.

WPZ: Williams Cos profit soars; boosted by Access Midstream stake; shares up 2%

Original Post

According to Yahoo!Finance. But sometimes Yahoo!Finance is wrong. So we will just have to wait and see.

If they do report, expectations:

• Hess: $1.08
• KOG: 20 cents;
• Phillips 66 (PSX): $1.75 at 8:00 a.m. EDT
• PSX partners (PSXP): 40 cents at 8:45 a.m. EDT
• Qusestar (STR): 18 cents after market close
• Southern Co (SO): $1.07 at 7:30 a.m. EDT
• Statoil at 2:00 a.m. EDT
• Whiting (WLL): $1.22 after market close
• Williams (WMB): 19 cents after market close
• WMB partners (WPZ): 39 cents after market close

... and a whole bunch more ...

This is not an investment site. Do not make any investment, financial, or relationship decisions based on anything you read here or think you may have read here.

Regarding KOG. Would this be a good poll? Will the deal with Whiting happen? Less than 2% of outstanding shares are held by insiders. According to Yahoo!Finance more than 75% of outstanding shares are held by institutions. The vote is December 3, 2014.

Again, this is not an investment site, but I could not possibly be more upbeat about the market right now. So many stories. If one has a long horizon. Huge opportunities. A lot of dots to connect. But again, this is not an investment site. Do not make any investment, financial, or relationship decisions based on anything you read here or think you may have read here.

In a long note with a lot of numbers, I make factual and typographical errors; if this information is important to you go to the source.

Tuesday Night - Lots Of Stories -- Not Many About The Bakken -- October 28, 2014

But the first story is about the Bakken. The press release:

Crestwood Midstream Partners LP  announced today the loading of the 1,000^th crude oil unit train at its COLT Hub in Epping, North Dakota.

The COLT rail facility commenced service in June 2012 with an original capacity to load 80,000 barrels per day. The facility has undergone two major expansions since 2012 and has a current capacity to load up to 160,000 bopd.

Crestwood’s COLT rail facility is one of the largest crude-by-rail loading terminals in the U.S., based on daily volumes loaded, currently averaging approximately 120,000 bopd. 

I first blogged about this in 2010.

• June, 2012 - July, 2014: 24 months
• Aug - Sept - Oct: less than 3 months
• off-line for expansion
• so maybe 24 months
• 24 * 30 = 720 days
• 1,000 crude oil unit trains / 720 days = more than a unit train on average every day. 

Wow, that's working 24/7.

Hillary Clinton, said in a recent speech, that this CBR terminal was built by the government. She said every business in this country was built by the government. Not even going to find the link.

A big "thank you" to a reader for finding / sending me the Crestwood press release. In fact, I think most of the stories linked on this post are coming in from readers.

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More Businesses "Built" By The Government

By the way, The Bismarck Tribune is reporting that the government "built" more than a 1,000 businesses in the Bismarck-Mandan area in the last ten years:

From 2002 to 2013, 1,169 new places of business were opened in Burleigh and Morton counties.

“The growth of our community is undeniable, but it can be difficult to quantify that growth when it’s happening at such a fast pace,” marketing and research director Judy Sauter said in the Bismarck-Mandan Development Association newsletter.

“So while it’s easy to point to specific building projects or anecdotal stories, quantifiable statistics like those in our monthly Economy-at-a-Glance are the best indicators of just how far we’ve come.”

As of 2013, there were 33,267 business establishments in North Dakota, according to North Dakota Job Service statistics.

Hillary would be proud: all these businesses being "built" by the government. It's really quite remarkable when you think about it. No wonder Hillary gets so excited when she talks about it. Just imagine all the "businesses" and "jobs" her government will create if she becomes president.

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Global Warming

Climate Change

Extreme Weather

Ice Age Now

The Pause That Refreshes

Okay, we all agree there has been no warming for 19 years. Now, the UN's climate experts are saying the "pause" will last another 30 years. I can't make this stuff up. Yahoo!Video: UN climate scientist says "cooling" could last another 30 years. I was looking for a site that had the "print" report and there are literally so many sites saying the same thing. Just like a growing snowball, all these reports now coming out that global warming is over. That was easy.

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How's That Clean Coal Plant In Mississippi Working Out?

They Would Have Been Better Building A Nuclear Plant

This story is now tracked here. 

I'm sure the folks in Mississippi will be happy to hear that news -- that global warming is on "pause" for the foreseeable future. Bloomberg is reporting:

Southern Co. said its first-of-a-kind clean coal power plant in Mississippi will cost almost three times more and take three years longer than originally proposed. [They would have been better off building a nuclear plant.]

The estimated cost of the Kemper County project is now $6.1 billion and it’s expected to be in service in the first half of 2016, Atlanta-based Southern said today in a filing.

The company initially said the project would cost $2.2 billion and begin generating power four years after it was proposed in 2009.

“It’s the gift that keeps on taking,” said Paul Patterson, a New York-based analyst for Glenrock Associates LLC. “This is one of many write downs and it’s a disappointment, obviously.”

The plant would be the first designed to capture carbon dioxide by turning coal into a gas, with technology that Southern plans to sell to others as countries from the U.S. to China seek to cut greenhouse-gas emissions. Kemper will heat the coal to high temperatures to turn it into a gas and then separate carbon dioxide that can be piped to oil fields to improve output.

The Chinese are adding a new coal-powered plant once a week, on average. I guess this Kemper County project is another "business" that is being built by the government, the stuff that Hillary talks about. Delayed. Over budget. The big story here is whether someone will eventually "pull  the plug" on this project and just take the write-off. The costs are going to be passed on to the customers.