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jerrykrause 114 posts  |  Last Activity: Aug 2, 2015 7:12 PM Member since: Aug 5, 1998
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  • Reply to

    All this cash!

    by lterm2000 Aug 2, 2015 6:14 PM
    jerrykrause jerrykrause Aug 2, 2015 7:12 PM Flag

    Forgive me for interrupting the mentally ill poster with the animus for Governor Walker, but I will try and help you answer your questions.

    Go to WEC website investor relations page look for Form 8937, it is a PDF file I can't copy
    classified as a reorganization section 368(a).
    there are a few paragraphs you have to follow to calculate the tax. if you go line by line and do the math you should get the answers to your tax basis.

    again forgive me for interrupting the mentally ill poster updating the employment figures for the state of WI.

  • jerrykrause jerrykrause Aug 1, 2015 3:07 PM Flag

    Part II

    In addition, North Dakota is taking advantage of the breather to catch up on infrastructure upgrades – including improvements that will help energy companies lower their operating costs, particularly those related to transportation.

    Since the Bakken shale boom began in 2007, the state has struggled to keep up with infrastructure demands. Workers streaming into the western part of the state overtaxed housing, schools and other resources. Trucks hauling heavy equipment clogged rural two-lane roads never engineered to carry the kind of traffic associated with oil operations.

    In February, Gov. Jack Dalrymple signed a $1.1 billion budget to improve those roads, along with sewers, schools, water treatment and other facilities. Much of the money to fund the upgrades has come from oil extraction taxes paid by energy companies.

    According to Eberhart, these infrastructure improvements will help oil companies lower well development and operating costs even further.

    "One of the issues energy companies have faced in the Bakken is how high the cost of operating has been compared to the rest of US oilfields," Eberhart explained. "If the downturn enables the state to make improvements that will push the Bakken closer to other operating basin cost structures, the benefits will be enormous and more meaningful than they would be in other basins."

    About Canary, LLC

    After ten acquisitions and seven decades, Canary, LLC, is now the largest private wellhead service company in North America and one of Inc. Magazine's 5000 fastest growing U.S. companies

  • Is There A Bright Side To Falling Oil Prices? Even In The Bakken, The Answer Is "Yes," Says Canary CEO.

    GRAND FORKS, N.D., July 30, 2015 /PRNewswire/ -- Falling oil prices may have caused a slowdown of activity in and around North Dakota's resource-rich Bakken shale play – but there are surprising benefits from the downturn, according to Dan Eberhart, CEO of Canary, LLC, one of the largest privately held wellhead companies in the US.

    As the global economy weakened in 2014 and the oil market swung to the supply side, particularly after OPEC refused to cut production amid an American energy glut, oil prices began a precipitous drop. Today, a barrel of West Texas Intermediate (WTI) oil – the US benchmark – has lost more than half its value compared to a year ago.

    As a result of the price slide, the US oil rig count declined for 29 consecutive weeks, bottoming out in late June at 628, the lowest it had been since August 2010. Recently released data from the North Dakota Department of Mineral Resources reported 75 drilling rigs in the Bakken, or 112 fewer than a year ago.

    Although the national count has rebounded slightly since, for Bakken producers who were pumping out more than 1 million barrels a day a year ago, recovery is uncertain as oil prices remain soft.

    That would seem to make positive news hard to come by. But Eberhart, who spoke at the July 27-29 Bakken Conference & Expo in Grand Forks, said that during a recent visit to North Dakota he saw how energy companies and state leaders are shaking off the "bust mentality" and putting the lull to good use.

    For one thing, he said, even before prices started to decline, established producers were optimizing their wells to increase productivity.

    "By innovating, producers lowered their break-even points, which allowed many wells to remain viable in a low-price environment," Eberhart said. "This is one reason we're seeing crude inventories continuing to build despite the rig count falling."

  • jerrykrause jerrykrause Aug 1, 2015 1:11 PM Flag

    Part II

    Dismissing the doomsday predictions about DCP Midstream’s future, Maxwell said the company continues to have liquidity thanks to its access to a $1.8 billion revolving credit facility. The company also continues to see good volumes in core areas of the Permian and Eagle Ford shales in Texas.

    Despite an adjusted loss of $25 million associated with DCP Midstream in the second quarter, primarily due to the sale of its interest in a Texas gas processing plant, Phillips 66 saw its profits climb 17 percent thanks in large part to strong refining earnings.

    The Houston-based midstream and refining company said its weaker midstream earnings were offset by a stronger refining performance, including better margins reaped for processing gasoline. The company’s refineries worldwide ran at 90 percent and Phillips 66 recently completed a major turnaound on its Humber Refinery in the United Kingdom.

    The company posted earnings of $1.01 billion in the three-month period ending June 30, or $1.84 per share, up from $863 million, or $1.51 per share, during the same time a year ago.

    Phillips 66 new 100,000 barrel-per-day fractionator at its Sweeny, Texas refinery is 90 percent complete and slated to come online in the fall. Its 4.4 million barrel-per-month liquified petroleum gas export terminal in Freeport is about halfway finished and slated for startup in the second half of 2016. Both projects are on schedule and on budget, the company reported.

    On Thursday, the company announced that it is partnering with Dallas-based Energy Transfer Partner’s and Philadelphia’s Sunoco Logistics Partners to build a new pipeline that will move crude oil from southeast Texas terminals to Lake Charles, La. The first segment could begin operating next year.

  • From Houston Chronicle - Fuel Fix
    DCP Midstream restructuring continues, Phillips 66 executives say
    By Rhiannon Meyers

    Despite its well-publicized troubles and the collapse in commodity prices, DCP Midstream remains a good business with attractive assets in some of the nation’s hottest shale plays, Phillips 66 executives said Friday.

    That’s why Phillips 66 remains committed to working out a plan to restructure the Denver-based pipeline and natural gas processing company that it owns as part of a joint venture with Spectra Energy, the company said.

    “DCP is addressing the challenges associated with the lower energy price environment and continue to deliver on cost reduction targets while providing reliable service to their customers,” Greg Maxwell, executive vice president and chief financial officer said in an earnings call with investors Friday. “We are continuing to work with our co-venturer to evaluate alternatives to address DCP’s capital structure.”

    The company, which is among the largest natural gas gathering firms in the nation, has been hit hard by falling natural gas liquids prices and has been undergoing a corporate restructuring since earlier this year. The company has slashed costs — eliminating or relocating 200 jobs and trimming its corporate budget by 20 percent — but additional work needs to be done to decrease DCP’s financial leverage, Phillips 66 executives said Friday during an earnings call with investors.

    Responding to an analyst question about whether DCP Midstream’s operations have been hindered by a lack of new capital, Phillips 66 CEO and Chairman Greg Garland said that Phillips 66 continues to invest in its growth even as it remains in talks with Spectra on ways to clean up the company’s balance sheet.

    “We’ll get the right resolution for DCP, I’m confident about that,” he said. “It’s just going to take some time.”

  • Reply to

    oil to $30s

    by harehau Jul 30, 2015 7:01 AM
    jerrykrause jerrykrause Jul 30, 2015 8:30 PM Flag

    mr. kilduff reappeared in studio for the CNBC-PBS show this evening. he made his prediction again about low $30's oil. he explained that he gets there, because of the weak demand/economy in china. i think that the whole communist china economy is a house of cards and I wouldn't put a penny into it.
    our dear leader here is a communist like his father and the U.S. economy has been weak for his two terms, however I am not sure this gets the oil markets into the low $30's.
    mr. kilduff did comment that gas demand is up here domestically with people driving more miles taking advantage of the lower prices...
    mr. parkridge77 has been posting on this board recently about his travels to China so I will defer to him about the economics of communist china....

    surprisingly WMB has trended down with several companies looking it over... I personally don't want WMB purchased, but the BOD of Williams hasn't asked for my thoughts.

  • Senate panel passes bill lifting crude oil export ban

    WASHINGTON (AP) — A Senate panel has approved energy legislation that would lift the 40-year-old ban on crude oil exports and open some areas of the Outer Continental Shelf to oil and gas exploration.

    Republican Lisa Murkowski of Alaska, chairman of the panel, championed the plan to lift the restrictions. It passed by a party-line vote of 12-10.

    Murkowski said lifting the ban would turn the U.S. into an energy superpower.

    Democrat Maria Cantwell of Washington, who opposes lifting the ban, describes the votes as an important first step in a long journey.

    The Senate Energy and Natural Resources Committee approved an array of energy legislation on Thursday. Lawmakers wanted to move the energy legislation out of committee before the August recess.

  • Reply to

    oil to $30s

    by harehau Jul 30, 2015 7:01 AM
    jerrykrause jerrykrause Jul 30, 2015 11:15 AM Flag

    i wonder how the fed will unwind out of the zero interest rate policy? this can't be good for economic activity. i have been against the artificially low interest rate policy, but nobody asks me what I think.

    i have been of the thought that the end game is the real rise in interest rates will happen at the beginning of the next presidential administration..... my interest rate sensitive stocks are up today (utility holdings) so the increase in rates isn't seen at this moment in time...

  • Reply to

    oil to $30s

    by harehau Jul 30, 2015 7:01 AM
    jerrykrause jerrykrause Jul 30, 2015 7:43 AM Flag

    mr. kilduff called for $30's in the spring and it didn't happen... I saw a piece on CNBC yesterday and the worry was Iran putting output into play if the nuclear deal is approved.
    seems like everyone says oil will go lower, I am a contrarian and I now wonder if this is the low?

    I have sat on the sidelines all year and am watching the market. until the last couple of up trading days, this strategy has been okay since the market at best was flat for the year. what has made me a bit curious is that the market has not really had any big sell off (capitulation), it has been a slow drip of selling, 100 point moves for a number of days.
    I also thought July would be the first raise of interest rates by the fed, well the meeting over the last two days and no July rate increase.

    one stock I am watching is Black Hills utility (BKH). BKH just bought an old utility piece of Kinder Morgan (Source One was owned partly by GE). BKH is trading at $41 from a high of $57. Current yield is at 4%. To finance the acquisition, BKH will issue equity (dilute shares), so between that and "probable" later in the year fed interest rate increase, BKH should drop in price more. BKH has a small E&P side business, coal mining and with the acquisition a pipeline piece to go along with the increase in regulated nat gas and electric utility business. I like the business mix of BKH going forward, just need a better entry price to grab the current yield closer to 5% then 4%. Obama leaves office in less then two years, all the energy companies have to survive this period and market regulations/conditions hopefully will be more pro-growth and commerce for all industries/sectors....

  • Part III

    For buy-and-hold investors in the major American stock market indexes, ignoring the news has been a worthwhile strategy.

    While it’s difficult to make a short-term killing in a market like this, somnambulistic prices aren’t necessarily a bad thing for long-term investors who have already benefited from the extraordinary run-up of the bull market since 2009. The market hasn’t had a substantial drop for several years. By remaining immobile, stocks may be experiencing a different kind of correction: If prices don’t rise, valuations become more reasonable as corporate earnings increase.

    That is important because the price-to-earnings ratio of the stock market — a widely followed measure — has risen appreciably since the start of the bull market. Bloomberg data for the S.&P. 500 shows that it has gone all the way from 14.31 percent on March 31, 2009, to 18.22 today.

    While investors wait for market action, they can collect handsome dividends. For the Dow, for example, the average current dividend yield is 2.39 percent, more than the current yield on a 10-year Treasury bond. The historically low yields on bonds are an important reason for the high valuations in the stock market: By comparison with bonds, stocks are relatively appealing.

    Markets that have sleepwalked like this one in the first half of the year have generally done well in the second half, Bespoke data shows. Of the nine other years with the least market action through June, all of them rose in the second half, on average, by 6 percent. That figure doesn’t include dividends.

    In short, if you want action, you won’t have much of it in the big stock market averages. But for buy-and-hold investors, there is still a reasonable chance that this could turn out to be a profitable year.

  • jerrykrause jerrykrause Jul 26, 2015 12:49 PM Flag

    Part II

    So far in 2015 the index has not closed more than 3.5 percent above or below its starting point. That has never happened before, Paul Hickey, a co-founder of Bespoke, said in an interview. The S.&P. 500 on Friday closed at 2,079.65, up a mere 1 percent for the year.

    The Dow Jones industrial average has been setting its own dubious records. It has been going nowhere at all since the end of last year, crossing above or below its December 2014 closing level 21 times so far this year. That degree of fruitless up-and-down movement in a single calendar year is already an unsurpassed, if uninspiring achievement for the Dow since 1900, according to Bespoke. Volatility in the American large-capitalization stock market has been quite low, too.

    What’s startling about the immobility in the Dow and the S.&P. is that other indexes and individual market sectors have been far more active — for better and for worse. The Nasdaq composite index, which is dominated by technology shares, is up 7.4 percent for the year and has been setting records of a more conventional kind, rising to new highs, most recently on Monday. The Nasdaq biotechnology index has risen even more this year — a sizzling 24.5 percent advance. Energy stocks, meanwhile, have fallen sharply. The S.&P. 500 energy sector has dropped 13 percent this year. And commodity markets have made wrenching moves — mainly downward lately — while the currency markets have been shaken by news about the euro.

    But in aggregate, the major American stock market indexes have held steady.

    “It could be mainly that people are waiting for the Federal Reserve to raise interest rates — which the market expects to happen fairly soon — yet the problems around the world may be inducing the Fed to delay, and that’s bullish for stocks, and it’s all balancing out,” Mr. Hickey said. “We don’t really know why. But it’s startling that the main stock market has been so steady when so many other areas haven’t been.”

  • From NY Times
    Your Money
    U.S. Markets Are an Oasis for Buy-and-Hold Investors

    There has been no shortage of market-moving business and economic news this year. But for the overall American stock market, none of it has really seemed to matter.

    Crises have come and gone, yet the American market has remained astonishingly calm.

    The headlines have been filled with international developments like the Greek debt drama, China’s shaky stock market and a possible sanction-ending nuclear deal with Iran. On the domestic front, the latest pronouncements of the Federal Reserve on interest rates and often disappointing announcements by American corporations on earnings and revenue had the potential to stir the stock market.

    For example, Apple, the largest stock in the universe by market capitalization, announced after the market close on Tuesday that its earnings for its fiscal third quarter rose 38 percent, a spectacular increase for most companies. Yet it evidently disappointed many short-term traders, who drove Apple stock down more than 4 percent on Wednesday.

    That was a big move, and because Apple is so important, it drove the main market indexes down for the day. But if you focus on the ripples caused by Apple, you may miss a bigger, quieter picture. While individual stocks and sectors gyrate, the overall indexes have been bound in an unusually tight trading range. For the most part, the stock market has been an oasis of relative calm.

    In fact, the overall American market has been setting records — even if they are not the kind that usually attract attention. It has barely budged this year.

    So far in 2015, for example, the Standard & Poor’s 500-stock index has moved less than it has ever moved before, according to at least one measurement by the mavens at the Bespoke Investment Group.

  • BYLINE: Targeted News Service
    BLM Seeks Public Comment on Proposed Oil and Gas Project

    The U.S. Department of the Interior's Bureau of Land Management's Utah State Office issued the following news release:

    The Bureau of Land Management (BLM) Utah Moab Field Office is seeking public input on Fidelity Exploration and Production Company's proposal to construct 16 well pads, access roads, and pipelines 17 miles northwest of Moab, Utah. Each well pad could ultimately contain one to three well bores that may result in up to 48 oil and gas wells.

    Fidelity's proposal also includes onsite production facilities and gas gathering pipelines. Following the public scoping period, which ends on Aug. 28, 2015, the BLM will prepare an environmental assessment (EA) to analyze potential impacts associated with the project. The public is encouraged to provide comments to help the BLM identify relevant issues that will influence the scope of the analysis and guide the development process for the EA.

  • Reply to


    by harehau Jul 23, 2015 3:31 PM
    jerrykrause jerrykrause Jul 23, 2015 4:01 PM Flag

    Harold - yahoo is showing oil in $48's today, short-term where is the price going?

  • Reply to

    MDU at $ 18.15

    by dkwilk Jul 23, 2015 2:21 PM
    jerrykrause jerrykrause Jul 23, 2015 3:45 PM Flag

    the 4% yield doesn't appear to be a floor, MDU sure looks to go lower...... similarly BKH is at around $40/share and that also is a current yield of 4%. BKH pushed a 52-week low today and it has to go lower because it will issue equity to help fund the Source One purchase...

  • Reply to


    by rfredrickson40 Jul 2, 2015 10:43 AM
    jerrykrause jerrykrause Jul 21, 2015 2:36 PM Flag

    to fund the acquisition it was reported equity would be issued, but at what price is what I want to know....BKH has to go under $40/share...

  • Reply to


    by ilikegold2003 Jul 21, 2015 11:17 AM
    jerrykrause jerrykrause Jul 21, 2015 11:59 AM Flag

    not the amount the yield. with the oil price drop this would hit the top line revenues of DNR, at the time the yield was good and you were paid to wait out a "recovery" in the price of oil. oil price didn't bounce back and now the yield of 5.6% doesn't have buyers to keep DNR stock from falling.... that was my point...

  • Reply to


    by ilikegold2003 Jul 21, 2015 11:17 AM
    jerrykrause jerrykrause Jul 21, 2015 11:27 AM Flag

    perhaps the recent drop is the expectation the dividend will be ended. i've thought the dividend was the floor holding up DNR share price. at this point cutting/ending the dividend really can't make the share price fall much more since its at $4/share now.....

  • Reply to

    another utility on the sale block

    by rorygu Jul 16, 2015 3:52 PM
    jerrykrause jerrykrause Jul 16, 2015 4:31 PM Flag

    I wonder who is sniffing around? recently foreign power companies have been buying into the U.S. utilities market, may not necessarily be a domestic company...

    MDU's E&P business is really a heavy anchor around the business, no regulated utility would want that, the recent consolidations are for more pure play utilities, the diversified business model in a remote region of the country does not make this stand out to be a candidate for a buyout...

  • Reply to

    another utility on the sale block

    by rorygu Jul 16, 2015 3:52 PM
    jerrykrause jerrykrause Jul 16, 2015 4:07 PM Flag

    rory you got any TE? we do.

    TE has been divesting business (barge & coal- although coal sale may not have gone been executed yet) now it is more straight regulated elec/nat gas provider....

88.51-0.44(-0.49%)Aug 3 4:06 PMEDT