Worth Re-Posting -- Look At Paragraph In Red -- July 13, 2018

From "top North Dakota news stories" this week, regarding ND state tax collections:

Several categories of state tax collections are well above forecast, thanks largely to the resurgence in the state’s oil industry.

The combination of higher oil prices and increased oil production has tax collections well ahead of the forecast made during the 2017 legislative session.

North Dakota oil producers received an average of $61.11 per barrel during the month of April, with near-record production of 1.22 million bbl/day.

Legislators forecast production at less than a million bbl/day at a price of $47.00/bbl, so tax collections for the month of June were 72% higher than predicted.

Corporate and personal income tax, motor vehicle excise tax and sales tax collections are also running ahead of the budget forecast.

The upside in the oil industry has been partially offset by lower commodity prices for grain and livestock. [Always something to complain about.]

The surge in oil tax revenue, including a deposit of nearly $59 million in June, has pushed the state’s Legacy Fund balance to more than $5.5 billion.

See 1Q18 taxable sales data here.

North Dakota's Oil Tax Collections In June: 72% Higher Than Predicted -- July 13, 2018

From "top North Dakota news stories" this week:

Several categories of state tax collections are well above forecast, thanks largely to the resurgence in the state’s oil industry.

The combination of higher oil prices and increased oil production has tax collections well ahead of the forecast made during the 2017 legislative session.

North Dakota oil producers received an average of $61.11 per barrel during the month of April, with near-record production of 1.22 million bbl/day.

Legislators forecast production at less than a million bbl/day at a price of $47.00/bbl, so tax collections for the month of June were 72% higher than predicted.

Corporate and personal income tax, motor vehicle excise tax and sales tax collections are also running ahead of the budget forecast.

The upside in the oil industry has been partially offset by lower commodity prices for grain and livestock. [Always something to complain about.]

The surge in oil tax revenue, including a deposit of nearly $59 million in June, has pushed the state’s Legacy Fund balance to more than $5.5 billion.

See 1Q18 taxable sales data here.

Moody's rating, Williston, ND -- April 18, 2018.

Moody's Investors Service affirms the Ba2 rating on the City of Williston, ND's general obligation unlimited tax (GOULT) debt. The outlook remains negative. 

The Ba2 rating incorporates Williston's heavy reliance on the oil and gas production industry. Improving oil prices and the 2017 opening of the Dakota Access Pipeline have strengthened the local economy, driving growth in sales taxes and oil and gas production taxes, which are the city's primary revenues. However, Williston's leverage is high, reflecting sizeable capital projects the city has taken on to accommodate the past decade's oil production-driven population growth. The city has committed itself to additional infrastructure projects, including a major airport expansion, the ultimate scope of which has not yet been determined. These growing capital needs, as well as narrow sewer enterprise operations, are key credit pressures that overshadow recent improvements in the local economy. 

Full history here.

Bond ratings here -- wiki.

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Stanley High School 

From MYNDnow:

In Stanley, the High School is remodeling and adding on to accommodate more students.

Before the oil, Stanley had about 300 students enrolled in the district.

Now, there are about there's about 700 students in the district and around 300 of them are at the high school.

And The Number Is: 1,244,629 -- New, All-Time High

Link here for rest of the May, 2018, North Dakota production data.

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Map Apps

As long as I have Sophia reading the map for me, I don't need Google maps, Apple maps, or Siri.

"Ha, ha, ha. You missed your turn. Re-calculating. Re-calculating. Re-calculating."

"Siri - ously, I think we are lost."

"Turn left in 50 feet. Menchie's. Your destination is on the right."

Whiting With Three New Permits Northeast Of Williston -- July 13, 2018

Active rigs:

$70.79→	7/13/2018	07/13/2017	07/13/2016	07/13/2015	07/13/2014
Active Rigs	67	59	30	72	190

Three new permits:

• Operator: Whiting
• Field: Epping (Williams)
• Comments: Whiting has permits for a 3-well Dam State pad in NENE 16-155-99

Producing wells (DUCs) reported as completed: none.

Fifteen permits renewed:

• BR (6): two Remington permits; two He permits; one Hefer permit; and, a Remingont-Lovaas permit, all in McKenzie County
• Hess (4): four LK-Quilliam permits in Dunn County
• EOG (4): three Wayzetta permits in Mountrail County; one Burke permit in Mountrail County
• CLR: a Juneau permit in Williams County

LOL: WTI Pares Back Some Gains After Reports That White House Might Release Oil From The SPR -- July 13, 2018

Not even worth blogging about. It is what it is.

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Hacked!

John Poesta's Brother!

I hope you can all get to this WSJ article: how Tony Podesta lost his mojo. LOL.

Tony Podesta was in line to be king of K Street.

His lobbying firm ended 2015 as the third largest in Washington, D.C., with nearly $30 million in revenue from more than 100 clients, spanning Alphabet Inc.’s Google to Wells Fargo & Co. With his longtime friend Hillary Clinton expected to win the White House, 2016 promised to be even better.

Mr. Podesta, a conspicuous presence in his red shoes and Italian suits, hosted lawmakers and power brokers at his flat in Venice during the Art Biennale. It was one of many homes around the globe, including the Washington mansion where he displayed a collection of museum-grade artwork. In early 2016, he was ready to buy a $7.4 million condo overlooking Madison Square Park in New York City.

Then he got hacked.

Then he fell, a calamitous collapse propelled by unexpected blows, delivered by fate and made worse by hubris. Financial problems, legal threats and the election of President Donald Trump took it all away—the clients, the firm and, finally, Mr. Podesta’s position as one of Washington’s most influential players.  

Too close to Hillary:

His troubles, some long hidden, surfaced in the summer of 2016. The Podesta Group lost its banker over news the firm did work for the U.S. subsidiary of a Russian bank under sanctions. Then came headlines that the firm’s work with Paul Manafort, Mr. Trump’s former campaign chairman, and an associate may have violated government rules.

And in October, WikiLeaks published 20,000 pages of emails stolen from his brother John Podesta, chairman of Mrs. Clinton’s presidential campaign.

The string of embarrassing news accounts disturbed many of the Podesta Group’s corporate clients, companies that preferred to stay clear of such publicity. Mr. Podesta operated as if the whole mess would soon blow over.

He spent most of the fall traveling the world. He returned to the U.S. on Election Day but skipped Mrs. Clinton’s campaign party. Her victory would go a long way to fixing many of his problems. She lost that night, and Mr. Podesta, like many who had banked on her victory, did too.

Clients who had hired him for access to a new Clinton administration fell away. By the end of the year, the departures cost the firm more than $10 million in annual business, according to an internal Podesta Group accounting viewed by The Wall Street Journal. 

How far did he fall?

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Got Away With Murder

The Brits claim Putin got away with murder. Who do the British elites hate? Trump. LOL.

And the British elite want Trump to do something about Putin. LOL.