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You Are On Search Going For Broke In Shale (Tight) Oil Page

As The Third Quarter Of 2017 Begins - Reality - Is Still Flighting At Best
The Sense Of The Sadness As The Toll Is Being Called - The Toll On Humans - The Reality Of Hype - The Debt


This Page's Layout Guide
L to R - Top To Bottom

2017

2015 Junk - JNK Bankruptcies
Delistings
Willful Blindness
Pension Fund Broke





Papers In The Roadside Tell of Suffering and Greed    Fear Today, Forgot Tomorrow    Besides the News of Holy War and Holy Need    Ours Is Just a Little Sorrowed Talk
Ordinary World

Fed Data Shows N.D. As One Of Two Of The Two Worst Performing States - ND Enters Into Recession

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Return To Bakken - Shale (Tight) Oil Play Page

2017
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USA Oil Companies Filing For Bankruptcy North Dakota Oil Companies Filing For Bankruptcy

USA Oil Company Lay Offs North Dakota Oil Company Lay Offs


"Lynn Helms said he expects another company to file bankruptcy shortly, and four or five more failures could be down the road." He didn’t name the companies.
He said the state’s oil industry is “running on empty” and quoted a verse from Jackson Browne’s song of that title.

Looking out at the road rushing under my wheels  I don't know how to tell you all just how crazy this life feels 
I look around for the friends that I used to turn to to pull me through  Looking into their eyes I see them running too

Running On Empty

Running On Empty - 01/2016
More Bankruptcies - 01/2016

A Better Theme Would Be The Pretender
I'm going to be a happy idiot  And struggle for the legal tender  Where the ads take aim and lay their claim  To the heart and the soul of the spender
And believe in whatever may lie  In those things that money can buy  Though true love could have been a contender  Are you there?
Say a prayer for the Pretender  Who started out so young and strong  Only to surrender

The Pretender

Lynn Helms & The Disclaimer

The Stranglehold Tightens - Saudi Arabia - Russia - Obama & The Dollar - Now Brent
Lifting The Ban On US Exports Of Crude Oil - Will Further Crush Price 01/2016

Allowing Exports Is Shortsighted What Worry About Peak & Exports What Is Brent

I got you in a stranglehold, baby You better trust your fate
Stranglehold


More Trouble Ahead 01/03/2016

Saudi Arabia Considers Taking Saudi Aramco Public - IPO - 01/07/2016

2015
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October 2015 - Playing Pass The Risk In The (Tight Oil) Shale Patch

Oil Patch Braces For Day Of Reckoning 09/15/2015

"The inability of Denver-based Whiting Petroleum to sell itself is an example. The board of the North Dakota-focused company
Was forced to issue new shares, reducing the company’s value by 20 percent, and take on more expensive debt".
Retreating In Disarray 03/29/2015


Saudi Aramco Is Hiring
Websites With Job Postings In Saudi Arabia

ND Recesion In 2015 ! ND 20,000 Layoffs By June 2015

The Junk Bond Market Starts Meltdown 12/2015

Billions Of Barrels Of Oil Gone In A Puff 12/2015
Credit Dries Up 09/18/2015

EIA Report 09/18/2015
The Scheme To Export Americas Security Refiners Look Elsewhere For Crude



The First Shale Casualty Some Of The Latest

A New Chapter
Payment - What Payment The Struggle

Junk
Just Another Day Stressed

Fracker Extinction
Saratoga Resources - Bankrupt Hercules - Bankrupt

Tight Oil - Being Swallowed By Its Own Debt
"In one example, Continental Resources Inc., the company credited with making North Dakota’s Bakken Shale
One of the biggest oil-producing regions in the world, (18th Largest Producing Region)
Spent almost as much (on interest payments) as Exxon Mobil Corp., a company 20 times its size."

75,000 Lay Offs & Counting Titan Closes Stores Leaving Town

Palmer Lays Off

Chaparral Cuts Jobs Helmerich & Payne Cut Jobs

Oxy Exits The Bakken 10/16/2015 For $500 Million
How Many Billions Did They Spend ?

The Man Who Started Oxy
Armand Hammer
Oxy Has A Long History

Oxy History Hooker Chemical Love Canal

They Seem To Spend Alot Of Money
Irani's salary was considered excessive and not truly performance based for decades by a number of corporate governance authorities who noted that Irani's compensation
Hhad exceeded that of the head of energy giant ExxonMobil, Rex Tillerson, who leads a company that has a market cap that is five times larger than Occidental Petroleum.

Ray Irani
First Anschutz Exited VIA Oxy Who Is Anschutz Oxy Purchase - 2010

Oxy Wants Out - 2014

Details Of - 2010 - Purchase More Details - 2013

Oxy - 2010 - Presenation


Oxy Exits - 2015
Oxy Exits Details - 2015 Lime Rock Partners

Portal Service Company

News Announcement Portal Service Company Flashback - 2012 Google The Deal

Chesapeake Energy Layoffs 09/29/2015
"I Need A Job" Yells One Employee

Baker Hughes Layoffs At Dickinson Facility 09/27/2015
Pumpco Closes Minot Operation 09/05/2015


Baker Hughes & Pumpco Layoffs
Baker Hughes & Pumpco Layoffs - Google Search

Like so many others why did you build some 65 to 100 miles from the sweet spots ?
Millions wasted on trucks and pickups and fuel.
Febuary 2013 Hype

Halliburton Layoffs At Williston Facility 09/22/2015

Haliburton Williston Layoffs
Haliburton Layoffs Williston Paper
09/22/15
Haliburton  - thelayoff.com

Haliburton Layoffs Williston Paper
09/29/15 100 Laid Off & More Coming


Halliburton Closing Minot Facility 03/25/2015

Halliburton Leaving Minot - Washington Times Haliburton Leaving Town

Alot Of People In Minot Believe Or Still Believe Halliburton To Be A Oil Company
They Are Not A E&P Exploration & Production Company - They Are A Worldwide Hydrocarbon Well Service Company.
Flashback To February 2015

Oilfield service provider Halliburton has told its roughly 1,500 North Dakota employees that job cuts are not coming, for now.
 The update came in a letter to staff from Brent Eslinger, senior district manager for Halliburton in Williston.
Halliburton spokeswoman Susie McMichael added that the company
"will continue to monitor the business environment" and cut costs as needed.
No Lay Offs

Halliburton Started By Erle P.Halliburton

On November 17, 2014 Halliburton and Baker Hughes jointly announced a definitive agreement under which Halliburton will,
subject to the conditions set forth in the agreement, acquire Baker Hughes in a stock and cash transaction valued at $34.6 billion.
Impact On Minot & ND
Cached on Google

Its Always About Cash - 10 Billion Asset Sale -03/23/2015
Is The Deal Poisoned - Whats Next?

Flashback To 2010
"At the time of the announcement, Halliburton spokesman Brent Eslinger said that Minot looked "like a good spot" to locate."
Finding A Home
Cached on ZoomInfo

09/22/2010 Halliburton In Minot
Cached on Google
2010 -Halliburton & Big Oil Moving To Minot
Minot The Gateway In 2010

Brent Eslinger Halliburton


From left, Minot Mayor Curt Zimbelman, North Dakota Commerce Commissioner Shane Goettle and Brent Eslinger,
Halliburton, took part in a press conference held Tuesday morning at City Hall where Halliburton unveiled plans for a $15 million facility to be constructed in Minot.


Former Vice President Dick Cheney, who previously served as Halliburton’s CEO, was instrumental in getting the so-called
‘Halliburton Loophole’
inserted deep within the pages of "The Infamous 2005 Energy Bill". This loophole stripped the EPA of its regulatory
 oversight
of hydraulic fracturing in natural gas development, a technique pioneered by Halliburton.
In 2005, the oil and gas industry was granted an exemption from the Safe Drinking Water Act,
Allowing the injection of toxic fluids directly into groundwater without oversight by the U.S. Environmental Protection Agency (EPA).


Hydraulic Fracking - Going To Far "The Halliburton Loophole"- Poltics - Oversight

Halliburton Yard In Minot


Target Logistics, a global provider of workforce housing and one of the largest operators of turnkey solutions in North America, announced today
 it has secured key contract renewals with two global oil field service companies totaling approximately $50 million over the next three years.
"Target Logistics operates 19 properties in the United States and Canada with more than 8,000 total beds."
Take and Do The Math.
$50,000,000.00 Divided By 3 Years Is 1095 Days = $45,662,00 A Day
$45,662.00 Divided By 8000 Beds = $5.70 A Day
$45,662.00 Divided By 19 Properties = $2,403.26 A Day
Great Price For A Place To Rest


Target - The Deal
Target Lands Contract

Junk - JNK
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Bought Any JNK Lately - The ETF For HIGH YIELD Bonds

Barred Redemptions - Mutual Fund Gone Rogue What Is JNK




Bankruptcies & Delistings
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Energy XXI Files For Bankruptcy Protection 04/2016
Stock traded at $38.65 in 2012 Down to $0.19 in April 2016


Goodrich Petroleum Files For Bankruptcy Protection 04/2016
Stock traded at $86.18 in 2008 Down to $0.04 in April 2016


Peabody Energy Files For Bankruptcy Protection 04/2016
Stock traded at $1330.00 in 2008 Down to $2.07 in April 2016



Nuverra - DBA Power Fuels Filed Bankruptcy 05-2017 Some $500 Million In Debt
Nuverra - Bankrupt - 01/2017

Nuverra - Restructuring Debt - 01/2016


Power Fuels - DBA As Nuverra - Symbol NES - Delisted 01/2016

NES Stock 10 to 1 Merger In 12/2013 - $21.29 In 2014 to $0.26 Cents On January 19th 2016 When It Was Delisted

Nuverra Now Trading As A Penny Stock As Symbol NESC - Bankruptcy 05-2017 Stock Was At $00.04 Cents A Share


Emerald Oil Files For Bankruptcy Protection 03/2016
Stock traded at $184.00 in 2013 Down to $1.37 on March 23


Venco Inc. Files For Bankruptcy Protection 03/2016

Venco Had Been Taken Private In 2012
  Venco Inc. Stock - $12.49 In 2012 When Taken Private - $1 Billion In Debt As Of The Filing 2016



Swift Energy Files For Bankruptcy Protection
Sad Situation - Swift Had Been In Business Since 1979
Swift Energy Stock - $68.54 In 2008 to $0.16 Cents On December 18th 2015 When It Was Delisted



Magnum Hunter Files For Bankruptcy Protection
Magnum Hunter Resources Stock - $23.65 In 2006 to $0.01 Cents On December 17th 2015 When It Was Delisted




$4.1 To $7.2 Billion - Poof
KKR - Samson Files Bankruptcy 09/17/2015
Yes, It Must Get Old Having The Same People In Your Court
"I am operating in a somewhat altered universe than the one I was operating in when I took the bench this morning,"
said U.S. Bankruptcy Judge Christopher Sontchi, after learning of the new treatment of the bonds.
"
Furious Judge Rebukes Banks Judge Sontchi Judge Warns - "Energy Future"

KKR Acquire's Samson Samson Layoffs KKR & Samson In 2015
"Samson’s woes stand as a cautionary tale of the U.S. shale boom. Fed by cash from Wall Street and private-equity firms,
drillers in recent years rushed to tap new oil-and-gas deposits across the country—and contributed to the collapse in prices for both fuels.
Samson’s woes have been exacerbated by the very tools private-equity firms use to juice their returns:
Samson carries debt used to fund its own purchase and pays fees to its owners. Last week, Moody’s Investors Service
downgraded Samson’s credit rating while taking the unusual step of simultaneously flagging the company for further downgrade."
KKR Stumbles 12/2014
Samson Stock - $199.89 in 2008 to $0.40 cents on 12/31/2015



Quicksilver Files For Bankruptcy Protection
Quicksilver Resources Stock - $44.98 In 2008 to $0.15 Cents In January 2015 When It Was Delisted


BPZ Files For Bankruptcy Protection
BPZ Resources Stock - $29.87 In 2008 to $0.15 Cents In March 2015 When It Was Delisted



Dune Files For Bankruptcy Protection
Dune Energy Stock - $3.75 In 2012 to $0.14 Cents In March 2015 When It Was Delisted



Cal Dive Files For Bankruptcy Protection
Cal Dive Stock - $18.62 In 2007 to $0.11 Cents In March 2015 When It Was Delisted



Gas Frac Files For Bankruptcy Protection

Private Company Buys Gas Frac Assets

Gas Frac Stock - $15.06 In 2011 to $0.002 Cents In September 2015 - It Is Ceased


Endeavour International Files For Bankruptcy Protection
Endeavour International Stock - $72.00 In 2002 to $0.003 Cents In September 2015 - It Is Ceased



Sierra Resources Group Files For Bankruptcy Protection
Sierra Resources Stock - $1.05 In 2010 to $0.00 Cents In March 2015 When It Was Delisted


Lexico Resources Intl. Files For Bankruptcy Protection
Lexico Resources Stock - $0.20 In 2012 to $0.06 Cents In Febuary 2015 When It Was Delisted



American Eagle Energy Files Bankruptcy - 05/11/2015

American Eagle Energy Misses Interest Payment

American Eagle Energy Gets More Time To Strike A Deal
American Eagle Stock - $12.00 In 2013 to $0.19 Cents In May 2015 - It Is Ceased


Bakken Resources Inc
These Folks Have Major Issues
"The results of my investigation are clear and the evidence indicates that Mr. Holms breached his duties
 to BRI by causing BRI to overpay for certain oil and gas leases, and then took a kickback/payment
 from the seller of those leases.  There are other very questionable matters that also came to my attention."
"The fraud perpetrated upon BRI by Mr. Holms raises serious concerns about the efficacy of BRI’s internal controls and processes."
W. EDWARD NICHOLS' RESIGNATION LETTER
Its All In The 8K Filing Dated 03/17/2015
BRI - SEC 8K Filings

Mr Holms Is Taking A Paid Leave BRI - Key Statistics
BRI - All SEC Filings Mr Holms Was Getting Paid Good Money

Bakken Resources Inc. - $1.25 In 2011 to $0.09 Cents In September 2015 - It Is Still Trading 12/31/15



Who's to know if your soul will fade at all
The one you sold to fool the world
You lost your self-esteem along the way

Fake It


Oklahoma Feels The Pain
Its Going To Take More Then One Finger To Plug Your Budget Gap
Oklahoma Now Has More Earthquakes Then California

Oklahoma - Little Oil Pressured Scientists


Willful Blindness
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Willful blindness (sometimes called ignorance of law, willful ignorance or contrived ignorance or Nelsonian knowledge)  Is a term used in law to describe a situation in which
A person seeks to avoid civil or criminal liability for a wrongful act.  By intentionally keeping himself or herself unaware of facts that would render him or her liable.

It Goes Way Beyond A Legal Standard - It Is A Human Circumstance That Knows No Bounds

Gayla Benefield was just doing her job — until she uncovered an awful secret about her hometown that meant its mortality rate was 80 times higher than anywhere else in the U.S.
 But when she tried to tell people about it, she learned an even more shocking truth: People didn’t want to know. In a talk that’s part history lesson, part call-to-action,
 Margaret Heffernan demonstrates the danger of "willful blindness" and praises ordinary people like Benefield who are willing to speak up. (Filmed at TEDxDanubia.)

An Amazing 14 Minute Film Into The Dangers Of Willful Blindness - A Worldwide Circumstance
Margaret Heffernan - The Dangers Of Willful Blindness - Talk on ted.com

Gayla Benefield Libby Mt. & Asbestos Margaret Heffernan

If You Are Unaware Of What Zonolite & Or Vermiculite Is & Or If You Have It In Your Building
Visit
zonoliteatticinsulation.com To See What It Looks Like

The Zonolite Company
These Poor Poor People - As Many as 35 Million Buildings In The USA Have Asbestos In Them
asbestos.net


If You Have Not Watched Margaret's Film - Please Take 14 Minutes & Do So Now
Asbestos Advertisements


Central States Pension Fund Broke
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mycentralstatespension.org Why Are They Broke? North Dakotans Screwed

Some of these days, and it won't be long   Gonna drive back down where you once belonged   In the back of a dream car twenty foot long
Don't cry my sweet, don't break my heart   Doing all right, but you gotta get smart   Wish upon, wish upon, day upon day, I believe oh Lord
I believe all the way   Come get up my baby

Golden Years



Question Is


Bakken Decline - Production Chart



We're setting sail To the place on the map from which no one has ever returned
Drawn by the promise of the joker and the fool By the light of the crosses that burn

Oh, save me. Save me from tomorrow I don't want to sail with this ship of fools

Ship Of Fools


The Photo Says It All




Bakken Maturity Map




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