Crude Oil

Oil Trades Near Week High on Stimulus Outlook, Mideast Unrest at Bloomberg.

U.S. crude oil production (ex-Alaska) reaches a 23-year high in JuneAEI.  The industrial side of the shale boom:  Reuters.

“Continental Resources Inc.’s daily oil production surpassed 100,000 barrels a  day for the first time in June, the company announced.”  NewsOK

Marathon Oil (MRO) spins off the refining business into Marathon Petroleum (MPC) and the dividend growth guys grab onto the refining business?  Dividend Growth Stocks.

“The oil companies will get better at this, not worse. They will get smarter about how to do it. Techniques will improve. Costs will fall, not rise. Production will exceed the imaginations of the geologists once again. Prospective acreage will swell. Reserves will mushroom. Oil prices will fall.”  Daily Wealth

Meanwhile, “The Biggest Untapped Oil Fields In The World” are wholly uninspiring.  Three aren’t even big next to the world stage.  The fourth is in Iraq, the fifth in the Atlantic ocean, and the sixth will always have low flow rates because it’s not even an oil field, it’s a mining operation.  Business Insider

U.S. rig count down a tinge at Haynesville Play.

The Asians are after North American natural gas.  “Shell said it had applied to the National Energy Board for a licence to export up…equivalent to 3.4-billion cubic feet per day, fully a quarter of Canada’s entire output in 2011.”  Globe and Mail