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Monday, September 26, 2011

Brigham: Three Forks, it just keeps getting better in North Dakota

Rough Rider Three Forks Well

Brigham announced the successful completion of the Irgens 27-34 #2H Three Forks well at an early 24-hour peak rate of approximately 2,906 barrels of oil equivalent (2,597 barrels of oil and 1.85 MMcf of natural gas). The Irgens 27-34 #2H was completed with 32 frac stages and is located in Brigham's Rough Rider project area in Williams County, North Dakota. The Irgens 27-34 #2H is approximately nine miles to the north northwest of the State 36-1 #2H Three Forks well, which was Brigham's first Three Forks well in Rough Rider and produced at an early 24-hour peak flow back rate of approximately 2,356 barrels of oil equivalent after being completed with 31 frac stages. Of Brigham's six Williston Basin Three Forks wells completed to date, the Irgens 27-34 #2H represents the highest early 24-hour peak rate and further delineates economic Three Forks drilling in Rough Rider.

Wednesday, September 21, 2011

Deepwater Horizon: Final Report

Volume I - USCG Final Action Memo on Vol I.pdf

Volume I - Enclosure to Final Action Memo.pdf

The Joint Investigation Team has released it's final report on the Deepwater Horizon explosion, loss of life and subsequent oil spill. The JIT details the evidence that BP, Transocean and haliburton violated a number of federal offshore safety regulations. Surprise!

Tuesday, September 20, 2011

Who pays taxes?

Top 10 Percent of Earners Paid 70 Percent of Federal Income Taxes

Peak Oil Revisited

Hubbert’s Peak or Yergin’s Plateau?
In 1956, Shell geologist M. King Hubbert correctly predicted that oil production in the United States would reach a peak around 1970. Since his Peak Oil theory fits so well with the Malthusian worldview of “Progressives”, anti-capitalists and anarchists, Hubbert has become a posthumous hero to the Left, an unusual role for a scientist polluted by the filthy lucre of the oil industry.
Hubbert's depiction of Global Peak Oil. From Wikipedia.
Peak Oil’s fundamental assumption is that the supply of oil is finite and fixed. The peak of the oil production curve is reached when half of the total resource base has been produced, so rate vs time exhibits a symmetric bell-shaped curve. Post peak, rate declines rapidly. Hubbert demonstrated a peak for oil production in Texas, and he extended his theory to correctly predict the time (but not the rate) of the peak for the U.S. World oil production is supposed to have peaked in the last five years or so.

Monday, September 12, 2011

Niobrara: DJ Basin

Halliburton vs. BP

Halliburton files claims in Texas against BP stemming from Macondo


Published: Sep 2, 2011

Offshore staff
HOUSTON – Halliburton has filed claims against BP in a Texas state court stemming from the Macondo incident in the Gulf of Mexico for negligent misrepresentation, business disparagement, and defamation. Halliburton also has moved to amend its claims against BP in multi-district litigation in New Orleans to include fraud.

Halliburton says these allegations are based upon BP providing Halliburton with inaccurate information prior to performing cementing services and BP’s use of an omission of that information in subsequent public statements, filings, and governmental investigations.

Halliburton says it has learned that BP provided Halliburton inaccurate information about the actual location of hydrocarbon zones in the Macondo well. Halliburton says the actual location of the hydrocarbon zones is critical information required prior to performing cementing services and is necessary to achieve desired cement placement.