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Michael Filloon  

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  • Bakken Update: Bakken Operators May Get $1 Billion Tax Break [View article]
    Fred,

    Yes you are correct. The tax is a shared burden so the holders would receive it as well.
    Mar 13, 2015. 02:34 PM | Likes Like |Link to Comment
  • Why to Buy This Bakken Pull Back? Production and Recovery Part 2 [View article]
    GVB,

    What specifically are you looking for? Are you just wondering what they are targeting?
    Feb 27, 2015. 07:36 PM | 1 Like Like |Link to Comment
  • Bakken Update: U.S. Crude Storage Capacity Is Filling Up, So Oil May Be Headed Below $40/Bbl [View article]
    We still continue to see oil prices steady, but production continues to increase. We are watching EIA numbers closely. More info can be found at Shaletrader in the link below.
    http://bit.ly/1si3hbl
    Feb 23, 2015. 01:00 AM | Likes Like |Link to Comment
  • Bakken Update: U.S. Crude Storage Capacity Is Filling Up, So Oil May Be Headed Below $40/Bbl [View article]
    Thanks TOT,
    Just have to wait and see if the inventories continue to pile up.
    http://bit.ly/1si3hbl
    Feb 19, 2015. 03:06 PM | Likes Like |Link to Comment
  • Bakken Update: U.S. Crude Storage Capacity Is Filling Up, So Oil May Be Headed Below $40/Bbl [View article]
    We get a very important number today at 10am where the EIA will give us the inventory number. If the API is correct with the crude inventory adds for this past week, it is the largest add since 1982 (that was when they first started keeping track of it).
    Feb 19, 2015. 09:51 AM | Likes Like |Link to Comment
  • Bakken Update: U.S. Crude Storage Capacity Is Filling Up, So Oil May Be Headed Below $40/Bbl [View article]
    TeaRex,

    I think with all of the economic issues over in that part of the world that a ceasefire would be bullish the price of oil. Normally conflicts push up the price but I think with all the issues with the Euro (and other currencies) and strength in currency, the best thing for oil prices (mostly affects Brent since WTI will trade on its own if we continue to add barrels) is no conflict. I don't think it is currently a significant issue given the supply driven market. When markets are driven by demand these things cause quick a large swings in oil price, but when oil is plentiful, we just don't see those types of moves.
    Feb 19, 2015. 09:45 AM | Likes Like |Link to Comment
  • Bakken Update: U.S. Crude Storage Capacity Is Filling Up, So Oil May Be Headed Below $40/Bbl [View article]
    GHOST,

    I could be wrong but I think the refiners are close to capacity so I think gasoline prices will go up. Right now those rates are low but that is because of seasonal downtime, but I don't think TSO can pick up the slack if that refinery is closed down for 6 months.
    http://bit.ly/1si3hbl
    Feb 19, 2015. 12:18 AM | Likes Like |Link to Comment
  • Bakken Update: U.S. Crude Storage Capacity Is Filling Up, So Oil May Be Headed Below $40/Bbl [View article]
    bartpr,

    I don't know if there is incorrect info, but there may be a lack of understanding of how each play produces. If you take average numbers it can give you a much higher $ value per bbl. for the play as a whole, but if you break the play into its better/best areas those numbers are much lower. Also, some writers may be discussing breakeven numbers, while others use payback times. We figure out each play by breaking down areas by specific well results. We believe this is better than taking field production numbers as breaking down a play into fields provides us with better data. Keep in mind that each play has differing production from different areas. Because of this the best areas can continue to produce at much lower oil prices, while other areas will see little to no development. Hope this helps.
    http://bit.ly/1si3hbl
    Feb 18, 2015. 09:21 PM | Likes Like |Link to Comment
  • Bakken Update: U.S. Crude Storage Capacity Is Filling Up, So Oil May Be Headed Below $40/Bbl [View article]
    MDHJr,

    Its possible it will affect heating oil stocks, but not sure if there is enough to move crude inventories. Its hard to know how much the decline (if it occurs) will affect E&P stocks because many of the funds had already got in when oil was in the mid to high $40s. This will depend more on the depth and duration of the pullback. We currently think crude will make new lows, but aren't in the camp we will see $20/bbl. Its possible, but we like oil below $40/bbl and even into the mid-30s. We do some trading of the commodity, and are currently short. We also have some cash to buy E&Ps as we get closer to 52 week lows.
    Feb 18, 2015. 09:01 PM | Likes Like |Link to Comment
  • Bakken Update: U.S. Crude Storage Capacity Is Filling Up, So Oil May Be Headed Below $40/Bbl [View article]
    GHOST4REAL,

    looks like the refinery could be closed for up to 6 months.
    Feb 18, 2015. 08:52 PM | Likes Like |Link to Comment
  • Bakken Update: U.S. Crude Storage Capacity Is Filling Up, So Oil May Be Headed Below $40/Bbl [View article]
    cayman,

    You arent missing anything. We think in the short term there are opportunities to get in at lower oil prices, but also believe oil prices will be higher than they are today at the end of the year and going into next year. Either way we think there are still opportunities in the oil markets.
    http://bit.ly/1si3hbl
    Feb 18, 2015. 09:39 AM | 1 Like Like |Link to Comment
  • Bakken Update: Bakken Operators May Get $1 Billion Tax Break [View article]
    Aricool,

    If I had to guess oil and all oil related revenues are closer to 25%. It could be wrong, but I derive that number by using the approximate revenues directly from wells and the estimated decrease over those two years in taxes. I know you know this, but we got oil service, midstream, etc. But more importantly is the construction revenues. They are building like crazy, that isn't just in Williston. My home town, Bismarck, has houses going up all over the place. Not to mention all the financial companies moving to town. I have a friend that owns a company that provides concrete, rebar, and other construction materials. His initial business was in Bismarck and now has one in Fargo, Williston and Minot. The growth is unbelievable, and a drop in oil prices will cause some short term pain, but I wouldn't guess it will do any long lasting damage. At least I hope not.
    http://bit.ly/1si3hbl
    Feb 13, 2015. 11:33 PM | Likes Like |Link to Comment
  • Bakken Update: Bakken Operators May Get $1 Billion Tax Break [View article]
    Pablo,

    Here is a great article. Rob is real good with these types of numbers and has posted some good info. Heres an article that goes over some of the numbers.
    http://bit.ly/1vJOhsK
    Feb 13, 2015. 11:16 PM | Likes Like |Link to Comment
  • Bakken Update: Bakken Operators May Get $1 Billion Tax Break [View article]
    Hi Aricool,

    That number can be a bit misleading. As those numbers are direct revenues from oil. It doesn't include all of the revenues from construction, etc., nor the additional jobs outside oil it creates. In reality, the number I probably much higher.

    http://bit.ly/1si3hbl
    Feb 11, 2015. 12:36 AM | Likes Like |Link to Comment
  • Bakken Update: Bakken Operators May Get $1 Billion Tax Break [View article]
    Levis,

    You may missing the point here. The taxable number is one that matters little. We can use a $10/bbl or $19/bbl differential. We can used $40/bbl or $60 WTI. We could use $30/bbl Bakken light, it is an estimated number that begins at the end of May. We estimate that the price of oil will be higher when/if the tax break is triggered. Plug whatever number you want into it, its still costing the state a ton of money. All said it cold cost ND over $5 Billion.
    http://reut.rs/197PzDq
    http://bit.ly/1si3hbl
    Feb 11, 2015. 12:33 AM | Likes Like |Link to Comment
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