Vergent Power Blog:
Microturbines are an ideal solution for flare gas, and for the Bakken area in particular. Microturbines, unlike many other power generators, can run on the rich gas found in the Bakken. In fact, microturbines can reliably and efficiently run on propane, which can have an energy content that is up to three times higher than natural gas. Because of our patented air-bearing technology and the fact that there is only one moving part in the turbine, there is only six hours of scheduled maintenance on average per year. That is a critical benefit for remote areas, and in places where labor is at a premium, as it is in North Dakota right now.
The energy companies we talked to were hungry for new solutions. Vergent Power and Capstone will also be working closely with groups such as the North Dakota Petroleum Council and the Energy and Environment Research Center to promote microturbines to as wide an audience as possible in order to get this innovative yet proven technology deployed in the Bakken.
Vergent Power is incredibly excited to be part of what we think is a fundamental shift in the approach towards flare gas in the USA.
The commission, which promotes as well as regulates the drilling industry, on Tuesday is expected to announce measures to limit flaring of existing wells. The federal government also is considering new limits on flaring.
In the past five years, North Dakota has climbed from the country's sixth-largest oil producer to the only state after Texas to produce more than a million barrels of oil a day. That has brought investment and job growth to a state economy once largely dependent on agriculture.
Chester Dawson/The Wall Street Journal 'It's not all bad, it's just poorly managed,' says Vawnita Best at her ranch in rural North Dakota.
But while Texas captures all but 1% of the natural gas produced, North Dakota burns 30% of its output. Oil companies can ship crude, which fetches 20 times more than gas per barrel of oil equivalent, in tanker trucks to pipelines or rail terminals. Transporting natural gas requires a pipeline connection at the source, however, and North Dakota has far fewer of such pipes and less processing capacity than other oil-producing states.
Government and industry officials say they have moved as fast as possible to limit gas burn offs.
"The only problem is the rate of [oil] production is growing faster" than companies' ability to capture gas, North Dakota Gov. Jack Dalrymple said in an interview. "We have been madly building processing plants and pipelines," he said.
WATFORD CITY, N.D.—For cattle rancher Vawnita Best, the struggle by North Dakota regulators to keep up with the oil boom strikes close to home: She can see the natural-gas flares of an oil well from her front porch.
"It's been flaring for nearly a year," she said amid the rolling hills of her Elkhorn Creek Ranch. "It's absolutely ridiculous to be so wasteful," she said. "They're flaring gas and using diesel to fuel the pumps—it's like something Homer Simpson would do."
The well is one of thousands dotting the landscape and producing gas as a byproduct of hydraulic fracturing and horizontal drilling for oil in the Bakken Shale. Because North Dakota lacks adequate infrastructure, drillers are forced to burn off whatever they can't capture and ship to market. In April alone, such wells burned 10.3 billion cubic feet of natural gas, according to the state, valued at nearly $50 million.
As flaring wells spread like a prairie fire, North Dakota's regulations have struggled to keep pace. Beyond being an eyesore, burning off natural gas degrades air quality. Critics also say producers aren't paying all the royalties and taxes owed on the gas that is flared. Energy companies lose out on gas revenue, too, but that is offset by what they generate from Bakken crude oil.
"It's a failure of regulation. There was an opportunity to do this the right way, but you can't unring the bell," said Matt J. Kelly, a lawyer at a Bozeman, Mont., law firm representing Bakken mineral-rights owners claiming unpaid royalties for flared gas.
Stung by criticism that it has allowed oil producers to flare wells indefinitely, the North Dakota Industrial Commission on June 1 adopted rules requiring that gas-capture plans be submitted for companies to get a new drilling permits. The rules require producers to identify gas-processing plants and proposed connection points for gas lines but don't affect permits that already had been issued.
"Turning to electric distribution. Due to spending reductions during the last recession and the significant allocation of capital to transmission, utility distribution investment has been inadequate. Major weather events over the past few years have highlighted system integrity and reliability challenges. As a result, we are seeing significant reinvestment in distribution assets across North America. The utilities are implementing system-hardening initiatives to better resist severe storm events, and utility regulators are increasingly showing a willingness to allow favorable rate treatment for those distribution upgrades.
In addition, utilities are enhancing distribution networks as distributed generation, demand response and other technologies are deployed. New-home construction strength in some markets is driving distribution activity as well.
We continue to add distribution crews to our customers' distribution systems because of these dynamics. Over the past year, Quanta has experienced a strong double-digit increase in distribution MSA backlog. We see opportunity for double-digit distribution revenue growth for the next several years as a result."
If you own common stock in a company that also has warrants outstanding, any exercise of the warrants will increase the number of outstanding shares thereby diluting the existing shareholders. This dilution is more pronounced when warrants are exercised, compared to say, the company issuing new shares on a follow on offering since any follow on offering is typically done close to the market price of the shares, while the exercise of the warrants are typically done below the market price of the shares.
Yes they do honor patents:
"ZTE’s strategic planning and industry-leading pool of intellectual property assets offer a strong safeguard to help the company prevail in patent litigations internationally.
ZTE has filed applications for more than 50,000 patents globally, with more than 16,000 granted. ZTE is a global leader with more than 800 essential patents on the standardization 4G LTE. ZTE will continue to strengthen its portfolio of patents to attain globally-leading positions in core areas such as smart terminals, optical networking, cloud computing, big data and 4G LTE, and invest in next-generation technologies such as 5G. Such investments will be key to enhance ZTE’s competitiveness and intellectual property capabilities to help the company cope with changes in the technology landscape and market environment.
ZTE retained its global top-2 position in patent applications in the World Intellectual Property Organization’s annual rankings published this month."
I hate to burst your bubble, but you forgot to mention this is gross profit not net income.
I would be happy if they would just give us the earnings date with before or after market release. I really don't like this guessing game every quarter.
Sooner or later they will get around to changing it.
I'm thinking after the close Tuesday. I'll be out of town then and they seem to always pick the day I'm away.
Here's a little more info on why I think ADT's settlement is tied to Tyco's:
Tyco International Separation Update
As you may know, the board of directors of Tyco International recently approved a plan to separate Tyco’s businesses, including ADT, into three separate, publicly traded operating companies:
ADT North America Residential and Small Business Security – the leading provider of security and fire alarm systems, serving more than six million homes and small businesses in the U.S. and Canada.
Flow Control – a global supplier of flow management, water and environmental systems and thermal control solutions.
Commercial Fire and Security – the largest global provider of fire and security products and services for commercial, industrial, governmental and retail customers worldwide.
This all happened a couple years ago.