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North Dakota Oil Production Surpasses 1 Million Barrels Per Day
1. SME Industrial Co Ltd.
Quick disconnect flat hose couplings and screw joint hydrant
fittings must take the priority
www.smecoupling.com
SME Engineers and Manufactures wide range of
industrial hose couplings, flanges, valves and
hardware. SME China features in the largest
manufacturing world of industrial hose and piping
connections. To know more details on hose
couplings then email to us: info@wzhaoda.com.
Oil companies fall on Iraq fighting
Mounting investor concern about
the territorial gains made by
jihadists in Iraq sparked a sell-off
in Kurdistan-focused oil
companies.
Genel Energy, which is backed
by financier Nat Rothschild,
dropped as much as 6.6pc
before closing down 34p, or
3.4pc, at 967p and Gulf
Keystone Petroleum slid 1ÂĽp to
a four-year low of 79p on news Islamist fighters had inflicted a defeat on Kurdish
forces near the border with the semi-autonomous Kurdistan region.
The renewed push by militants over the weekend marks an escalation of the
violence in Iraq. Shares in both Genel and GKP were shaken when Islamist fighters
first took territory two months ago, although investor concern about the incursion had
eased in recent weeks.
However, reports of fresh fighting on Monday revived fund managers’ worries about
the potential impact of the violence and pushed shares in the companies lower. It
didn’t help Genel that Evil Knievel, the closely-followed short-seller, was said to be
shorting the stock.
Indeed, analysts at UBS were also cautious on the Genel investment case.
Downgrading to ―neutral‖, the broker’s experts reminded clients that ―the security and
political situation in Iraq remains volatile and complex‖.
2. SME Industrial Co Ltd.
Genel is likely to attempt to reassure investors about the security of its Kurdish
operations when it posts half-year earnings tomorrow
Meanwhile, Afren, the Africa-focused explorer that also operates in Kurdistan, lost a
further 7.1p to 107p, a 6.2pc decline, having crashed 26.1pc on Thursday after
suspending its chief executive and chief operating officer.
Both executives are being investigated over unauthorised payments, and in light of
the unsettling turn of events, analysts at Canaccord Genuity downgraded their
recommendation to ―hold‖ and cut their target price to 120p, from 150p.
―The key question is whether Afren’s asset value is, or will be, significantly impaired,‖
they said.
A share sale by the explorer’s biggest investor put further pressure on the stock.
Afren on Monday disclosed that Standard Life had cut its stake to 72.9m shares,
from 87.4m. The disposal was made on the same day that Afren revealed the
payments probe.
Among London’s smaller oil plays, there was demand for Bowleven, a favourite
share of retail investors that added ½p to 38¾p after Cameroon officially gave the
company permission to develop the Etinde permit off the coast of the African
country.
Kazakhstan-focused Max Petroleum took on 0.270p, or 22pc, to 1.495p after
securing ÂŁ37.1m in funding from the Assaubayev family. The powerful local family
has taken a 51pc stake in the explorer, having subscribed for shares at 1.64p a
piece, a 33.9pc premium to Friday’s close.
But Tangiers Petroleum plunged 61.4pc, a loss of 4.375p to 2Âľp, on confirmation
that its highly-anticipated TA0-1 exploration well in Moroccan waters would be
plugged and abandoned.
More broadly, the benchmark FTSE 100 stabilised after suffering heavy falls in
recent trading sessions and closed almost unchanged, off 1.66 at 6,677.52. As with
last week, earnings updates were a focus for the market.
Intertek, the product testing group, bounced off a two-year low to finish 173p better
at £27.06 – the biggest blue-chip riser – following reassuring half-year numbers.
HSBC Holdings was another that was boosted by results, reversing an earlier dip to
close up 5.7p at 635p, despite posting weaker than expected six-month pre-tax
profits of $12.3bn. However, the bank told investors that it expected to benefit from a
rise in interest rates in the UK, which it forecast would take place in the final three
months of the year.
Earnings were also the major driver of stocks in the FTSE 250. Chemicals group
Alent, 9.6p higher at 340p, and ground engineer Keller, up 14p and 889p, were both
lifted by well-received interim figures. The former company further impressed with
the announcement of a 15p a share special dividend.
Similarly, esure, the motor insurer, pleased by beating market forecasts with its half-
year numbers and advanced 1.3p to 258½p.
3. SME Industrial Co Ltd.
Peer Direct Line, which was chased higher following earnings on Friday, remained in
demand and rose 4.6p to 304p. Price target upgrades by analysts at Credit Suisse
and Canaccord lent support to the stock, with Ben Cohen at the latter broker saying
that ―first-half results were impressive, given the headwind from winter weather‖.
Finally, worries about the status of Quindell’s telematics contract with RAC sent the
controversial insurance outsourcer down 23Âľp to 181Âľp.Weekend press reports
suggested work on the contract had slowed amid disagreements between the two
sides.
North Dakota Oil Production Surpassed 1
Million Barrels Per Day
Oil production is booming in North
Dakota, hitting more than one
million barrels per day in April and
May, according to government
data. Hydraulic fracturing, or
fracking, and horizontal drilling
have played a major role.
According to the Energy
Information Administration,
increased production from the
―Williston Basin’s Bakken and
Three Forks formations‖ have led
North Dakota to become the
second-largest oil producing U.S.
state, beating out California and
Alaska.
North Dakota produces 12 percent of total U.S. oil production. In 2012 alone, oil
production in North Dakota increased 177 percent from 2010 to 2013 while
production in Texas increased 119 percent.
Why has oil production boomed so much in recent years? EIA notes, ―Although
Bakken oil production initially began in the 1950s at Antelope Field in North Dakota,
large-scale production growth did not begin until after the discovery of the Parshall
Field in 2007.‖
―Since then, advances in drilling methods and technology, a better understanding of
the geology of the Bakken, higher crude oil prices, and the formation’s large size and
number of wells all have contributed to higher production and to the potential for
continued future growth,‖ EIA continues.
Virtually all the increased U.S. oil production in recent years has come from fracked
wells on private and state lands. It’s not just oil production that’s boomed, natural gas
production has skyrocketed as well — thanks to fracking on private and state lands.
But the huge production increases have attracted the attention of environmental
groups who want to see fracking banned or more heavily regulated, claiming it
damages water and air quality.
4. SME Industrial Co Ltd.
Environmentalists have been especially active in Colorado, where they have tried to
get local governments to ban fracking since state-level efforts to ban the drilling
practice have not worked. But eco-activists suffered a huge setback earlier this
month when a Colorado judge invalidated a local fracking ban passed by the city of
Longmont.
Judge Dolores Mallard ruled that the local bans contradict the state’s interest in
developing its natural resources and that Longmont did ―not have the authority, in a
matter of mixed state and local concern, to negate the authority‖ the state’s oil and
gas commission.
Environmental groups have vowed to appeal the ruling.
―It’s tragic that the judge views the current law in Colorado as one in which fracking
is more important than public health,‖ Kaye Fissinger, president the anti-fracking
group Our Health, Our Future, Our Longmont. ―Reversing that backwards priority is a
long-term battle that we’re determined to continue.‖
Texas ranks as one of the top oil producers in
the world
Texas oil production topped 3 million barrels per day in May, putting the Lone Star
State on par with the world’s biggest oil producing countries, according to the Energy
Information Administration.
Only Russia, Saudi Arabia, United States, China, Canada, Iran and Iraq produce
more oil than Texas, according to international oil production numbers from the EIA.
Unlike the national production totals that are from May, the international numbers are
from March and include condensate.
Texas produced as much oil as the entire continent of Europe, according to the EIA.
And, Texas is on track to be producing 3.4 million barrels per day by the end of the
year, which would leapfrog all of the Organization of Petroleum Exporting Countries
(OPEC) nations except Saudi Arabia. Compare that to a year ago, when the Lone
Star State produced 2.4 million barrels per day.
A year ago, Texas ranked 15th in the world.
U.S. oil production remained above 8.3 million barrels per day in April and May.
These are oil production numbers that haven’t been seen since the late 1980s.
Here are the top oil-producing countries (with the state of Texas included) in barrels
per day from March, the most recent date available:
5. SME Industrial Co Ltd.
Russia: 10.1 million
Saudi Arabia: 9.7 million
United States: 8.2 million
China: 4.1 million
Canada: 3.6 million
Iran: 3.2 million
Iraq: 3.3 million
6. SME Industrial Co Ltd.
Texas: 2.9 million
Kuwait 2.6 million
Venezuela: 2.3 million
Brazil: 2.1 million
Stay up to date on Texas energy news with the Energy Inc. news ticker, bringing you
by-the-minute coverage from the Texas Business Journals.
Fire Fighting Couplings
Quick disconnect flat hose couplings and
screw joint hydrant fittings must take
the priority to be made as strong while
as light as possible. They have to be fast
enough and reliable in operation.
Therefore, aluminum alloys are the
choice material for quick connection.
Brass and bronze materials are usually
used for hydrant valves, landing valves
and fittings for copper alloys can be
reliable over time.
Storz Couplings (German type)
Top of the listed couplings for firefighting is Storz couplings. It is widely used by
fire services worldwide and was invented for this purpose by Guido Storz in 1882.
It is commonly used on fire hoses to connect to fire hydrants in western Europe,
esp. Denmark, Germany, Austria, Switzerland, Sweden and the Netherlands.
7. SME Industrial Co Ltd.
Instantaneous Couplings (British type)
British instantaneous fire couplings are available in
both light alloy and gunmetal to cater for
requirements as fire brigades, industrial and
general users favoring the light alloy fire fittings for
their light physical weight and the marine trades
favoring the gunmetal and marine brass fire fittings
for their salt water corrosion resistance and
durability in the most extreme weather conditions.
Coupling are made to standard BS 336 sized
11/2 inch to 21/2 inch consisting of fire hose
couplings, male and female adaptors, blank
caps or plugs, washers and spanners.
DSP / AR Couplings (Frenchtype)
DSP couplings are manufactured in
compliance with NF S61-704 for the
dimensions DN 40 and DN 65. The DN
100 dimension is manufactured in
compliance with NF S61-705.
A DSP coupling is a self-sealing
symmetrical coupling which is secured by
interconnecting two DSP couplings. The
half coupling is closed by turning the
locking ring beneath the triangular section
of the opposed DSP coupling. Extra
closure can be applied by locking the
connection with a wrench.
The DSP coupling locking system is
similar to that of the Guillemin coupling.
There are however differences to the
8. SME Industrial Co Ltd.
preformed serration on the locking ring
and the design of the lugs. The locking
ring of DSP couplings can be turned up to
45°.
SME Industrial Co Ltd
297 Shangcheng Rd
Pudong
Shanghai
200120
China
Phone: +86 21 54800607
Fax: +86 21 34220634
Mail us to: info@wzhaoda.com
Web: www.smecoupling.com