With a huge pad, lots of storage tanks, yet only three pumpjacks, notice how much room there is for more wells. Photo by James Ulvog.
Some background data for oil in North Dakota provides insight for the production info.
Drilling rigs have become more productive in recent years. In the past, say before 2014, the number of rigs directly tied into production levels. Now, with a variety of technologies, such as multi-well pads for example, the drilling time is down so the wells per rig are up.
A far lower number of rigs is needed to keep new well production rolling.
Here are the details from the press release. The “reference” is the baseline agreed upon, which is referred to as the “Reference Production Level” in the press release. The change by country is listed. I calculated the percentage change for each country. Here are the changes:
I was on active duty in the U.S. Air Force a mere four years. I never got within 3,000 miles of hostile action against American forces. To top it off, my small contribution was decades ago.
As a result, I am squeamishly uncomfortable accepting the appreciation when someone tells me “Thanks for your service.”
It took me a few years to get to a place where I could accept those comments.
I now graciously and proudly accept those expressions of appreciation from my fellow Americans, not because of what I did so long ago, but on behalf of all those soldiers, sailors, marines, and airmen who do not have someone looking them in the eye, shaking their hand, and saying “thanks.”
So for all those troops pulling alerts, standing watch, scheduling logistics, or taking fire, please know that vast numbers of Americans are grateful for your service.
I pass on to you their thanks.
You are there, not here, so many people have thanked me instead. It is you they are really thanking.
While today we remember with gratitude those who did not return, I hope those who are serving today hear the appreciation.
What could possibly go wrong with giving a leader the power to fix all our problems? There is a great chance said leader will use that power to force people to fix things. You could wind up being told in microscopic detail every single thing you can do.
That would merely cost you your freedom and make you a serf.
In musical terms, that might be called, oh, perhaps something like Serfdom USA:
Photo taken at altitude while flying over North Dakota. Look closely to see strings of wind turbines scarring the land, visible at 20,000 feet. Photo by James Ulvog.
Between some vacation, talking about things I learned in North Dakota, and following the trial of now-convicted human trafficker Keith Graves, I’ve not been talking about the devastation caused by wind and solar power for quite a while. Not to worry, there is a long backlog of articles on the destructive power of wing toasters and slice-and-dicers on my list of things to discuss.
Here are a few articles on dilute and intermittent wind power that caught my eye. Update on solar to follow in a few days.
(Cross-posted from a post on 8/22/14 from my other blog, Attestation Update. I’m accumulating all my posts on transportation time and prices in the past here on this blog. Someday plan to link them together to tell a larger story.)
In his Natural History, Pliny states that in 49 BCE , the year Caesar crossed the Rubicon, the Roman treasury contained 17,410 pounds of gold, 22,070 pounds of silver, and in coin, 6,135,400 sesterces.
Soll, Jacob (2014-04-29). The Reckoning: Financial Accountability and the Rise and Fall of Nations (Kindle Locations 276-277). Basic Books. Kindle Edition.
I don’t think in terms of pounds of gold or silver and I don’t know what a sesterce is or what it is worth. But I do know how to search the ‘net.
I share this on my Nonprofit Updateblog and cross-post it here at Attestation Update because I enjoyed it and think it might be some fun trivia for accountants and people working in the faith-based community.
By the way, Prof Soll’s book is superb. Just got started reading it and think I will find lots of little tidbits to share. More on that idea in my next post.
Mr. Graves has a pretrial conference at 1 p.m. on 10/19 with the trial scheduled to start at 1:30. The trial is scheduled for all day from 10/20 through Friday 10/23. The trial is one of several cases scheduled each day from 10/26 through 10/30. I’m not sure what it means to have a trial and several hearings all scheduled at the same time.
Looks like trial is moving forward this week.
As of this morning, I can find zero media coverage of the trial via an internet search.
Post as of 10/16: Just looked at the PACER system. Filings through today (10/16) look to me like the trial will start as scheduled this upcoming Monday.
Jury instructions were filed and the US Attorney objected saying they want certain words included for two counts. They want “intent” added.
Falcon 9 launch. Photo, in public domain, courtesy of SpaceX.
Several fun updates on the wide open frontiers of technology and private space flight.
First, I’m an accountant that talks to bookkeepers, accountants, and church leaders all day when I’m not sitting at a computer. So it is really cool to look at how stuff is made. Check out the incredible technological capacity and refined skill needed just to make scuba tanks.
Making a Worthington X-Series Steel Scuba Cylinder
[youtube=https://youtu.be/Z8R-I5I1Dgo?t=193]
Then ponder the incredible knowledge that had to be accumulated to make all that happen. Wow.
Hat tip to Beyond the Black. (Link to video: youtu.be/Z8R-I5I1Dgo?t=193)
Williston city and Williams County are working to cut back mancamp housing, which will have the expected unintended consequence of putting upward pressure on housing prices. The new airport in Williston is moving forward. Biggest news is indication that newest wells aren’t seeing production deplete as rapidly as in the past. Continue reading “News from around the Bakken – 7/27”
I just checked Amazon and can find four books from the mentioned author, written in 2001, 2005, 2008, and 2010. All are selling well. Not great, but okay. I’m astounded that so many people still believe that foolishness.
Russell Gold, a reporter with the Wall Street Journal has a new book out, The Boom, which discusses the amazing changes in the energy world due to hydraulic fracturing.
Book was released today. I already have my copy on my e-reader. Also have a lot of other books on my to-read list, so may be a while before I have any comment on it.
Oil production in the state hit 973,280 barrels a day, up from revised 945K bopd in October.
With increases in production typical over the last six months, the million point could be passed in December or January. However, the rough winter will probably slow the production amount for a few months. More likely it will be February or March before passing 1M bopd.
Value of the production
Production for the month was 29,198,385 barrels. The Director’s Cut says sweet crude prices were $71.42 for the month. That means the value of oil produced was about $2.085 billion. With a higher price of $85.16 in October, the value of oil extracted was $2.5 billion. The higher price and extra day of production made October higher.
