Saturday, May 28, 2016

Saturday, May 28, 2016 -- Nothing About The Bakken

If you came here for the Bakken, scroll down or over to the sidebar at the right.

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The Camera Page

Canon has an incredible SLR offering: the SX410 IS. It's listed price has been $199 for quite some time, I suppose, but it is now being sold everywhere (including by Canon) for $179. I assume the drop in price suggests Canon is getting ready to phase out this model.

Some years ago I stumbled across an incredible buy at Target, the Canon SX510 HS. The model was being phased out. The one I bought was the "floor model" and was the last one available. I thought it was an incredible camera at an incredible price.

Now comes the SX410 IS at $179 -- even less than what I paid for the "510." My camera:
  • 12.1 megapixels
  • 30x optical zoom
The SX410 IS:
  • 20 megapixels
  • 40x optical zoom
The only other difference between the two cameras from what I can tell: my camera has "wi-fi." The "410" does not have "wi-fi" capability. As much as I use my camera, the internet, and Flickr, I have never, never used my camera's "wi-fi." I have always used the little SanDisk slot on the side of the MacBook Air.

It should be noted that Apple is moving to new thin laptops that do not include the SanDisk slot and that "wi-fi" capability may come in handy yet.

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Interesting Little Secret

For those few of us who refuse to give up our clam shell dumb phones but who still want all the features of an iPhone -- our younger daughter has come up with the solution: the iPod.

It's hard to find the iPod over at the Apple site. But it's there, and I think the iPod was updated last year (2015).

I assume there are some things I'm missing but it appears with the iPod and "wi-fi" one gets the iPhone without the voice phone. It's a very, very clever option. My hunch is that ATT, Verizon, Sprint, et al, have thought about this, also, as a concern. Obviously the number of folks that will carry about a clam hell dumb phone and an iPod is insignificant, but, wow, for those us who don't want the huge monthly cost of the iPhone, this is an interesting option.

At the Apple retail store in Southlake (Texas) -- and I assume everywhere -- Apple has a counter devoted to about six iPods paired wirelessly with Beats headphones. The elegance is incredible.

I see Beats has MLB editions of their headphones -- Atlanta Braves, or LA Dodgers, for example. Absolutely incredible marketing idea.

These were the ones we were looking at paired with matching iPod:

The one above is $300; the "identical" MLB version is an extra $30. I had never -- in a million years -- ever thought that I would ever consider a pair of Beats head phones, but they are tempting.

Buds are out; headphones are in.

Week 21: May 22, 2016 -- May 28, 2016

Operations
After tying a post-boom low of 25 active rigs early in the week, the number of active rigs in North Dakota recovered to 29 by the end of the week; WTI briefly went over $50/bbl; settled around $49/bbl

Bakken 101
Packers Plus on high-intensity wells in the Bakken
Lack of fracking water is still not -- never has been -- an issue in the Bakken

DUCs
Update, US plays

Pipelines
Dakota Access Pipeline keystoned in Iowa: predicted and predictable

Bakken economy
Williston Wire
  • moving into new high school
  • Williston's population grew by almost 10% in 2015 (the year of the bust)
  • North Dakota housing growth rate: highest in the US
  • steady birth rates in western North Dakota
Israelis testing drones in North Dakota
North Dakota's state mill and elevator doing just fine
Williston Wire
  • South Ridge Apartments open
  • Meg-A-Latte opens third location in Williston
  • Williston High School Superintendent says "goodbye" after seven years
  • Williston State College president says "goodbye" after seven years
US Senate approves funds for new Williston airport relocation project

Miscellaneous
Russia overtakes Saudi Arabia as China's leading supplies of crude oil
Saudi Aramco production/export numbers for 2015
No urgency for the Saudi Aramco IPO
OPEC: less relevant than ever; OPEC's death knell
Favorite global oil production graph updated
Four consecutive years of declining oil discoveries -- has never happened before
Takeaway capacity in western Canada may be inadequate
Memorial Day traffic could hit record this year
Trump: spoke on energy in Bismarck; North Dakota unpledged delegates put Trump over the top; celebrations break out worldwide;  no links; stories everywhere

Humor
The core of the Bakken as seen by Wall Street

Saudi Aramco Lifted 2015 Output To Record -- May 28, 2016; Saudi Aramco Increased Crude Oil Exports 2% Year-Over-Year

Rigzone/Bloomberg is reporting these data points:
  • produced at an all-time high last year (2015)
  • kept reserves unchanged; 261.1 billion bbls
  • "maintains an oil-production capacity of 12 million bopd"
  • produced 10.2 million, up from 9.5 million in 2014
  • a 7% increase; 700,000 bopd increase
  • the company will announce its restructuring plans within six months
  • will launch IPO by end of 2018
  • exported 2.6 billion bbls in 2015, up from 2.54 billion bopd in 2014 (2% increase)
  • exported 7.1 million bopd in 2015
  • exports to Asian markets increased "substantially"
    • India: jumped 18%
    • China: grew 4.5%
    • US: flat at 1 million bopd
    • Baltic: expanded, new markets; spot cargo to customers from storage facilities in Okinawa and Rotterdam
  • refining: 3.1 million bopd, unchanged from 2014; capacity was 5.4 million
  • seeks to double its refining capacity to 8 - 10 million bopd
When they say they increased exports to Asian markets "substantially," note that total global exports increased a paltry 2% year-over-year; it helps put "substantially" in context. 

EOG Reports Production From Five Completed DUCs -- May 28,2 016

Active rigs:


5/28/201605/28/201505/28/201405/28/201305/28/2012
Active Rigs2983189186216

Four new permits --
  • Operator: Crescent Point Energy
  • Field: Little Muddy (Williams)
  • Comments:
Five producing wells completed:
  • 31546, 458, EOG, Austin 59-1509H, Mountrail, ICO, t4/16; cum --
  • 31826, 707, EOG, Austin 454-1510H, Mountrail, 2 sections, t4/16; cum --
  • 31827, 693, EOG, Austin 455-1510H, Mountrail, 2 sections, t4/16; cum --
  • 31828, 563, EOG, Austin 463-1509H, Mountrail,  ICO, t4/16; cum --
  • 32121, 901, EOG, Austin 437-2635H, Mountrail,  ICO, t5/16; cum --