Fields: Stockyard Creek (Williams County); Manning (Dunn County)
Comments: Whiting has permits for a new 3-well Moen pad in lot 1, section 2-154-99; Lime Rock has permits for a 2-well Laura Sadowsky pad in section SESW 1-142-96
Seven permits renewed:
Lime Rock Resources III-A (3): a State permit, a Kary permit, and, an Emil Veverka permit, all in Dunn County
Petro Harvester: a Miller permit in Burke County
BTA Oil Producers: a 20002 Agate permit in Golden Valley County
Sinclair: a Crosby Creek permit in Dunn County
EOG: another Clarks Creek permit in McKenzie County
Five producing wells (DUCs) reported as completed:
24550, 533, Petro-Hunt, Sabroskky 144-97-6A-7-1H, Little Knife, t12/17; cum --
24696, 1,502, Zavanna, Usher 28-21 1H, Poe, t1/18; cum --
30373, 463, Statoil, Folvag 5-8 8TFH, Stony Creek, t11/17; cum -- (#24180)
30375, 1,229, Statoil, East Fork 32-29 1H, East Fork, t11/17; cum -- (#24180)
The story was first linked at The Prairie Blog. I then posted a follow-up blog which linked the original post. At the time, I really didn't think the story would have much national exposure. Wow, was I wrong. It just tells me how much political clout the farm states have. Today, this story in The WSJ: USDA, senators vow to change farmer cooperative tax provision.
Added days before the tax bill was signed, the wording gives farmers who sell grain to cooperatives an unintended advantage.
The National Council of Farmer Cooperatives and the National Grain and Feed Association, which has members with both business structures, are working to revise the provision with Sens. John Hoeven (R., N.D.) and John Thune (R., S.D.), who originally backed it.
“A technical change needs to happen and everybody’s working hard to make sure that change can happen as quickly as possible,” he said.
At the original post I suggested that this "problem" could easily be solved, and there they say it's just a matter of making a technical change.
Maybe that's all that's required with regard to the mortgage interest deduction to make the law "fair" between red states and blue states: a technical change. LOL.
February 23, 2018: sixteen reasons why the market is surging (see below); now, eight more reasons.
Original Post
Trump economy: sustained growth pace unlike anything seen in 13 years -- CNBC.
the Trump economy may be doing something not seen since 2005 —growth at a 3 percent or better pace for three quarters in a row
economists
were ratcheting up fourth quarter growth to 3 percent or better after
strong fourth quarter retail sales and strong revisions to prior months
The GDPNow model forecast for real GDP growth (seasonally adjusted annual rate) in the fourth quarter of 2017 is 3.3 percent on January 12, up from 2.8 percent on January 10.
The forecast of fourth-quarter real consumer spending growth increased from 3.0 percent to 3.8 percent after this morning's retail sales report from the U.S. Census Bureau and this morning's Consumer Price Index release from the U.S. Bureau of Labor Statistics.
US economy, why is the market surging, sixteen reasons:
many sectors did not participate in rally during 2017
consumer confidence at 17-year highs
cheap, accessible energy
geopolitical risks dialed way back
mideast relatively quiet
Trump sounds more "optimistic" about North Korea
infrastructure discussion beginning
WTI flirting with $64 again today
one week until partial government shut-down
P/E nowhere near euphoric conditions
big companies with huge cash holdings: Buffett with more cash than ever
$1,000 - $2,000 / employee across the spectrum; huge amount of money going back into economy (the government did this in 2008: The package will pay $600 to most individual taxpayers and $1,200 to
married taxpayers filing joint returns, so long as they are below income
caps of $75,000 for individuals and $150,000 for couples. There is also
a $300 per child tax credit)
Disclaimer: this is not an investment site. Do not make any investment, financial, travel, job, or relationship decisions based on anything you read here or think you may have read here.
The National Transportation Safety
Board has released its final accident report and safety recommendations
nearly three years after a fiery oil tanker train crash in north-central
North Dakota that spilled 96,400 gallons of crude oil in the area.
The
accident on May 6, 2015, one mile east of the small community of
Heimdal, was caused by a broken wheel that led to the derailment of six
of the 107 loaded tank cars on the Burlington Northern Santa Fe train,
said the board in a release on Thursday, January 11, 2018.
Coming up on three years to sort this out? Life-time employment security for these investigators. My hunch is that the operator of the train knew within 24 hours what happened.
From November 22, 2017: #20282. Has been off-line for two years; now
IA. Eight seven wells around it have recently been fracked. Name: Williston
Airport 2-11 1H; Todd Field.
33324, 2,282, MRO, French 31-15TFH, Bailey, t10/17; cum -- (#16964, #20321)
I noted that it would be interesting to take a look at two neighboring, older wells: #16964 and #20321.
The neighboring wells:
16964, 315, MRO, Voigt 11-15H, Bailey, t5/08; cum 203K 11/17; re-fracked 8/17; re-frack with 45 stages; 5.5 million lbs;
Recent production (#16964):
Pool
Date
Days
BBLS Oil
Runs
BBLS Water
MCF Prod
MCF Sold
Vent/Flare
BAKKEN
11-2017
30
17493
17345
21327
9561
505
7006
BAKKEN
10-2017
22
28683
28727
554
16075
0
12881
BAKKEN
9-2017
0
0
0
0
0
0
0
BAKKEN
8-2017
0
0
0
0
0
0
0
BAKKEN
7-2017
0
0
0
0
0
0
0
BAKKEN
6-2017
0
0
0
0
0
0
0
BAKKEN
5-2017
5
89
64
10
58
0
40
BAKKEN
4-2017
30
661
663
148
541
0
292
Note initial production at time of original frack (#16964):
BAKKEN
10-2008
31
2550
2550
378
975
975
0
BAKKEN
9-2008
30
2511
2590
407
1160
1160
0
BAKKEN
8-2008
31
3426
3223
615
1587
1587
0
BAKKEN
7-2008
31
4013
4080
708
1657
1657
0
BAKKEN
6-2008
30
5714
5895
975
1797
1797
0
BAKKEN
5-2008
24
6990
6599
1117
0
0
0
BAKKEN
4-2008
12
903
696
303
0
0
0
Comment: we talked about this back in 2008 - 2012 the importance of all these early wells even if they initially appeared "uneconomical." This was just one of several reasons why these lower-producing wells back in the early days of the boom were (and, are) so important.
