Active Drilling Rigs – March 2011

The number of active drilling rigs are up by about 6% from our last count in January. We currently stand at 172 total rigs with Continental Resources (CLR: 36.895 -1.403%) and Hess (inc AEZ)  (HES: 45.64 -0.87%) leading the way.     Expect Continental to increase its lead in 2011 as the company recently raised its 2011 capex budget from $1.36 billion to $1.75 billion, an increase of 28.7%. The increase is due to an accelerated drilling program in the Bakken region.  Continental, is the largest leaseholder in the Bakken with roughly 850,000 plus net acres in the region.   The counts for most of the key Bakken players are largely unchanged from January with the exception of EOG Resources which saw its count go from 12 to 9.    There doesn’t seem to be any news associated with this decrease so we’ll keep our eye on it over the next few months.    Smaller players Petro Hunt,  Denbury (DNR: 1.115 -2.193%) and Oasis (OAS: 8.60 -0.81%) are continuing to slowly build up the number of rigs in the area and could become formidable players in the region in the next few years.

Operator Well Name and Number Current Location
AMERICAN OIL & GAS INC KNUDSON 15-20H SWSE 20-156N-97W
AMERICAN OIL & GAS INC HELLAND 15-19H SWSE 19-157N-96W
AMERICAN OIL & GAS INC WEYRAUCH 15-11H SWSE 11-157N-98W
AMERICAN OIL & GAS INC STRAHAN 15-22H SWSE 22-156N-98W
AMERICAN OIL & GAS INC STRAHAN 15-22H SWSE 22-156N-98W
AMERICAN OIL & GAS INC ANDERSON TRUST 15-12H SWSE 12-157N-98W
AMERICAN OIL & GAS INC CHRISTOPHERSON 2-30H NWNE 30-157N-97W
AMERICAN OIL & GAS INC OLSON 2-3H LOT2 3-156N-98W
ANSCHUTZ EXPL CORP HARRY STROH 1-8-5H-143-96 SWSE 8-143N-96W
ANSCHUTZ EXPL CORP LEISS 1-23-26H-143-96 NWNE 23-143N-96W
ANSCHUTZ EXPL CORP VELENCHENKO 1-4-9H-143-97 SWSE 33-144N-97W
ANSCHUTZ EXPL CORP HARLAN REBSOM 1-2-11H-143-95 LOT 2 2-143N-95W
ANSCHUTZ EXPL CORP NOVASIO STATE 1-16-21H-142-95 NWNE 16-142N-95W
ANSCHUTZ EXPL CORP RICHARD DVORAK 1-33-28H-143-95 SWSE 33-143N-95W
ARSENAL ENERGY USA INC. BRENLEE 100-19H SWSE 19-155N-90W
BAYTEX ENERGY USA LTD HAUGENOE 22-162-99H SESW 15-162N-99W
BAYTEX ENERGY USA LTD REDFIELD 25-36-157-99H NWNW 25-157N-99W
BRIGHAM OIL & GAS LP SCHA 33-34 #1-H SWNW 33-156N-92W
BRIGHAM OIL & GAS LP PLADSON 4-9 #1-H LOT4 4-157N-91W
BRIGHAM OIL & GAS LP O’NEILL 17-20 #1-H SWSE 8-154N-101W
BRIGHAM OIL & GAS LP RUSSELL 10-3 #1-H NWNE 15-153N-103W
BRIGHAM OIL & GAS LP DELORME 12-1 #1-H SESW 12-154N-103W
BRIGHAM OIL & GAS LP FIELD 18-19 #3H LOT8 7-154N-101W
BURLINGTON RES O&G CO PATTON 31-1H LOT2 1-145N-94W
BURLINGTON RES O&G CO RISING SUN 11-1TF-2NH LOT 4 1-151N-96W
BURLINGTON RES O&G CO MAZAMA 44-21H SESE 21-152N-97W
BURLINGTON RES O&G CO ABERCROMBIE 44-12H SESE 12-151N-98W
BURLINGTON RES O&G CO ZACHERY 14-10H SWSW 10-148N-98W
CONTINENTAL RESOURCES WALLMAN 42-8H SENE 8-130N-104W
CONTINENTAL RESOURCES GOODSON 1-28H NWNE 28-160N-96W
CONTINENTAL RESOURCES ROSENVOLD 1-30H NWNE 30-160N-96W
CONTINENTAL RESOURCES LAKEWOOD 1-20H SWSW 20-161N-96W
CONTINENTAL RESOURCES FORTIER 2-17H NENE 17-160N-96W
CONTINENTAL RESOURCES WHITMAN 3-34H NWNE 34-147N-96W
CONTINENTAL RESOURCES CHASE 1-19H NWNE 19-145N-96W
CONTINENTAL RESOURCES MARSHALL 1-13H NWNE 13-145N-97W
CONTINENTAL RESOURCES RUTLEDGE 1-32H NENW 32-145N-96W
CONTINENTAL RESOURCES GUDMUNSON 1-26H NWNE 26-151N-97W
CONTINENTAL RESOURCES HOGAN 1-16H NENW 16-148N-98W
CONTINENTAL RESOURCES DON 1-23H SWSE 23-151N-97W
CONTINENTAL RESOURCES SYRACUSE 1-23H SESW 23-152N-99W
CONTINENTAL RESOURCES PITTSBURGH 1-19H SWSE 19-152N-99W
CONTINENTAL RESOURCES CHARLOTTE 1-22H SWSE 22-152N-99W
CONTINENTAL RESOURCES BAILEY 2-24H NWNE 25-150N-97W
CONTINENTAL RESOURCES MILLOY 1-15H SESE 15-155N-104W
CONTINENTAL RESOURCES LAWRENCE 3-13H SWSW 12-159N-95W
CONTINENTAL RESOURCES GJORVEN 1-21H SWSE 21-155N-98W
CONTINENTAL RESOURCES LOKKEN 2-2H NWNW 2-159N-95W
CONTINENTAL RESOURCES HAYES 1-6H SWSE 6-153N-99W
CONTINENTAL RESOURCES MILDRED 1-19H SWSE 19-155N-98W
CORNERSTONE NAT RES LLC ORMISTON 3-26H NENW 26-162N-90W
DENBURY ONSHORE HOFFMANN 149-98-1-12-1H LOT 3 1-149N-98W
DENBURY ONSHORE KOESER 41-15 SWH NENE 15-150N-97W
DENBURY ONSHORE SAND CREEK 21-10SH NE-NW 10-153N-96W
DENBURY ONSHORE JOHNSON 31-6SWH LOT2 6-149N-97W
DENBURY ONSHORE LEE 34-31NWH SWSE 31-150N-98W
DENBURY ONSHORE CHRISTIANSON 24-9NEH SESW 9-152N-101W
ENERPLUS RES USA CORP ROBERTS TRUST 13C-2H TF SWSW 13-148N-94W
EOG RESOURCES INC BEAR DEN 05-31H SESE 31-150N-94W
EOG RESOURCES INC SIDONIA 31-3019H SESE 30-158N-90W
EOG RESOURCES INC ROSS 32-1707H SESW 17-156N-92W
EOG RESOURCES INC LOSTWOOD 18-1224H SWSE 12-158N-91W
EOG RESOURCES INC JAMES HILL 9-0112H LOT3 1-157N-91W
EOG RESOURCES INC LOSTWOOD 20-1123H SESE 11-158N-91W
EOG RESOURCES INC LIBERTY LR 17-11H SESE 11-151N-91W
EOG RESOURCES INC HARDSCRABBLE 13-3526H SWSE 35-153N-103W
EOG RESOURCES INC MONT 3-3403H LOT1 34-155N-102W
EOG RESOURCES INC SHORT PRAIRIE 7-1201H SESE 12-154N-104W
FIDELITY EXPL & PROD CO KRABLES 22-15H SESW 22-155N-91W
G3 OPERATING LLC ANDERSON 1-24-13H SESE 24-157N-102W
HELIS OIL & GAS CO. LLC THOMPSON 1-29/32H NENE 29-150N-95W
HESS CORPORATION AN-DINWOODIE-153-94- 2833H-1 NWNE 28-153N-94W
HESS CORPORATION EN-TRINITY-154-93- 2833H-2 SWSE 21-154N-93W
HESS CORPORATION EN-WEFALD-156-94- 1324H-2 NENW 13-156N-94W
HESS CORPORATION EN-WEYRAUCH-154-93- 1918H-2 SWSE 19-154N-93W
HESS CORPORATION EN-REITCH-157-94- 3229H-2 SESW 32-157N-94W
HESS CORPORATION EN-RULAND A-155-94- 1201H-1 NWNE 13-155N-94W
HESS CORPORATION EN-CHAMLEY-156-93- 0508H-1 LOT3 5-156N-93W
HESS CORPORATION GO-VINGER-156-98- 2116H-1 SWSE 21-156N-98W
HUNT OIL COMPANY HALLIDAY 1-12-1H 1 NWNW 13-146N-93W
HUNT OIL COMPANY PALERMO 1-2-31H SESW 2-156N-90W
HUNT OIL COMPANY SHELL 1-3-34H 1 SESW 3-153N-89W
KODIAK OIL & GAS (USA) INC TWO SHIELDS BUTTE 2-24-12-1H3 NWNE 24-149N-93W
KODIAK OIL & GAS (USA) INC KOALA 3-2-11-13H LOT 3 2-151N-100W
LEGACY OIL & GAS ND LEGACY ETAL BERGE 12-12H 1-H NWSW 12-163N-77W
MARATHON OIL CO BUFFALO 34-12H SWSE 12-148N-96W
MARATHON OIL CO HARTMAN 14-32H SWSW 32-144N-96W
MARATHON OIL CO ELLA GUENTHER 21-29H NENW 29-146N-93W
MARATHON OIL CO MARLIN 44-12H NENE 13-146N-95W
MARATHON OIL CO WINDY BOY USA 12-35H SWNW 35-152N-94W
MARATHON OIL CO ONE FEATHER USA 11-17H SWSW 8-150N-90W
MARATHON OIL CO SKOGSTAD 41-28H NENE 28-151N-93W
MUREX PETROLEUM CORP REISTAD 1-1R SESE 1-162N-102W
MUREX PETROLEUM CORP ESKELAND HERFINDAHL 7-6H SESE 7-156N-95W
NEWFIELD PROD CO DROVDAL 150-99-7-6-1H NWNE 18-150N-99W
NEWFIELD PROD CO DROVDAL 150-99-18-19-1H SWSE 7-150N-99W
NEWFIELD PROD CO BARRACUDA 150-100-2-11-1H LOT 1 2-150N-100W
NEWFIELD PROD CO OBENOUR 150-99-21-16-1H SWSW 21-150N-99W
NEWFIELD PROD CO LARSON 159-102-29-32-1H NWNE 29-159N-102W
NORTH PLAINS ENERGY LLC HELLANDSAAS 16-8H SESE 8-153N-97W
NORTH PLAINS ENERGY LLC A. CVANCARA 9-7H NESE 7-159N-97W
OASIS PETRO NO AMER SPARROW 5201 42-11H SESW 11-152N-101W
OASIS PETRO NO AMER RUUD 5493 42-23H SESW 23-154N-93W
OASIS PETRO NO AMER DIXON 5602 44-34H SESE 34-156N-102W
OASIS PETRO NO AMER JENSEN 5501 42-7H SESW 7-155N-101W
OASIS PETRO NO AMER DRIESBACH 5602 44-32H SESE 32-156N-102W
OASIS PETRO NO AMER WALES 5602 42-33H SESW 33-156N-102W
OIL FOR AMERICA ZASTOUPIL 22-1 NESE 22-139N-97W
OXY USA INC SORLIE 160-90-18-P-1H SESE 18-160N-90W
OXY USA INC SWENSON 160-91-11-P-1H SESE 11-160N-91W
PEAK NO DAK LLC BIRON 20-24H SWSE 20-149N-92W
PETRO HUNT LLC PRODUCER`S CORPORATION 159-94-17C-8-2H SESW 17-159N-94W
PETRO HUNT LLC L.M. THOMPSON 7D-4-4H SWSW 8-153N-95W
PETRO HUNT LLC FORT BERTHOLD 152-94-14C-11-1H SWSW 14-152N-94W
PETRO HUNT LLC PESEK 151-102-26B-35-1H NENW 26-151N-102W
PETRO HUNT LLC USA 153-95-22C-15-1H SWSW 22-153N-95W
PETRO HUNT LLC SOVIG 150-100-22C-15-1H SESW 22-150N-100W
PETRO HUNT LLC KLOSE 151-103-27B-34-1H NENW 27-151N-103W
QEP ENERGY CO MHA 3-05-08H-147-92 LOT5 5-147N-92W
QEP ENERGY CO MHA 2-01-02H-149-91 SWNE 6-149N-90W
RM RESOURCES LLC EIDSVOOG 1-28H NENW 28-158N-100W
SAMSON RESOURCES CO YUKON 12-1-163-98H NWNE 13-163N-98W
SAMSON RESOURCES CO TORINO 22-15-163-98H NWNE 27-163N-98W
SAMSON RESOURCES CO BLAZER 2-11-163-98H NWNE 2-163N-98W
SEQUEL ENERGY LLC BULL MOOSE 22Y-32 SWNE 22-147N-101W
SINCLAIR OIL & GAS CO NELSON 2-26H SESW 26-155N-90W
SLAWSON EXPLORATION DRONE 1-34-27H SWSE 34-145N-93W
SLAWSON EXPLORATION LOON FEDERAL 1-24-25H NWNE 24-152N-92W
SLAWSON EXPLORATION HUNTER 2-8-17H SWSE 5-151N-92W
SLAWSON EXPLORATION JUGHEAD FEDERAL 2-26H NENE 35-152N-93W
SLAWSON EXPLORATION DIAMONDBACK 2-21H NWNW 21-151N-92W
SLAWSON EXPLORATION PATHFINDER 1-9 SWD NENW 9-152N-91W
SLAWSON EXPLORATION AMBUSH 1-31-30H SWSE 31-156N-101W
SM ENERGY CO RIEDE 4-14H NWNW 14-163N-100W
SM ENERGY CO JOHNSRUD 1-1H LOT 1 1-150N-99W
TRACKER RES DEVMNT DEVILS CANYON 17-1H SWSE 8-147N-97W
TRACKER RES DEVMNT IVERSON TRUST 1-1H LOT 2 1-151N-103W
TRACKER RES DEVMNT KLOSE 24-1H SESE 24-151N-103W
TRACKER RES DEVMNT ELLINGSBERG 32-1H SESW 32-154N-98W
TRUE OIL LLC WILLISTON BASIN 42-36H SENE 36-148N-101W
WARD-WILLISTON CO LDCMU 9-13 NWNE 9-161N-85W
WHITING OIL AND GAS CORP HAYSTACK 11-19TFH NWNW 19-142N-101W
WHITING OIL AND GAS CORP ARNEGARD 21-26H NENW 26-150N-100W
WHITING OIL AND GAS CORP JOHNSON 34-8H SWSE 8-149N-99W
WHITING OIL AND GAS CORP ROVELSTAD 21-13H NENW 13-150N-100W
WHITING OIL AND GAS CORP RUDMAN 11-12TFH NWNW 12-153N-91W
WHITING OIL AND GAS CORP KERNAN 12-10TFH SWNW 10-154N-92W
WHITING OIL AND GAS CORP NEWCOMB 12-31TFH SWNW 31-153N-91W
WHITING OIL AND GAS CORP VANGEN 11-3TFH LOT4 3-152N-92W
WHITING OIL AND GAS CORP LITTLEFIELD 12-29TFH SWNW 29-153N-91W
WHITING OIL AND GAS CORP ERIC NESHEIM 21-24TFH NENW 24-153N-91W
WHITING OIL AND GAS CORP PETERSON 43-35TFH NESE 35-153N-92W
WHITING OIL AND GAS CORP STRAND 11-5TFH LOT4 5-152N-91W
WHITING OIL AND GAS CORP RICHARD 21-15TFH NENW 15-139N-99W
WHITING OIL AND GAS CORP ROLLER 21-26TFH NENW 26-139N-99W
WHITING OIL AND GAS CORP PALUCK 21-27TFH NENW 27-139N-99W
XTO ENERGY INC FBIR BAKER 34X-25 SWSE 25-149N-92W
XTO ENERGY INC INGA FEDERAL 41X-29 NENE 29-148N-97W
XTO ENERGY INC 101 FEDERAL 21X-24 NENW 24-147N-105W
XTO ENERGY INC JOHNSRUD FEDERAL 34X-14 SWSE 14-149N-96W
XTO ENERGY INC CLEO 31X-5 LOT2 5-156N-96W
XTO ENERGY INC WOODROW 34X-32 SWSE 32-155N-96W
XTO ENERGY INC DORIS 21X-5 NENW 5-157N-95W
ZAVANNA LLC OLSON 8-5 1H SWSE 8-151N-103W
ZAVANNA LLC WILDCAT 1-11H SESE 11-155N-100W
ZENERGY INC BERQUIST 33-28H SWSE 33-152N-98W
ZENERGY INC A. JOHNSON 12-1H SESW 12-152N-98W
ZENERGY INC FLORENCE 11-2H SESE 11-153N-103W
ZENERGY OPERATING CO LLC DAKOTA-3 BLACK HAWK 15-34H SESE 34-149N-92W
ZENERGY OPERATING CO LLC DAKOTA-3 BEAKS 36-35H SENE 36-149N-93W
ZENERGY OPERATING CO LLC DAKOTA-3 ELK 16-21H NENW 16-150N-92W
ZENITH PRODUCED WATER L. E. JOHNSON 1 SESW 24-156N-101W

Weekly Roundup

Oil continues to creep up as there is no end in sight to the unrest in Libya and a civil conflict looming on the horizon.     Most of our Bakken plays have tacked on 5-10% in the last week which is on track with our prediction in our last article on Mideast unrest.    We should expect a 3-5% PPS increase weekly as the crisis continues and then a 10% drop once the crisis dissipates and there is a clear line of sight to short term stability in the region.

In terms of domestic news,  the region is as busy as ever:

  • Linn Energy (LINE: N/A +0.00%)  the  independent explorer and producer agreed to buy $434 mil in assets in the Bakken shale and Permian Basin regions in 3 separate deals. The move is aligned with Linn Energy’s (LINE)  acquisition strategy for buying properties rich in oil and natural gas.
  • North Dakota pumped a record 113 million barrels of oil in 2010, smashing the previous high set a year earlier by 33 million barrels.  Production rose from about 235,000 barrels in January to about 344,000 by the end of 2010
  • Northern Oil & Gas (NOG: 0.7373 -4.7170%) “outsource everything” model seems to be running on all cylinders.  The company is looking to triple its earnings this year to $195 million, according to Northern CEO Michael Rege.  In 2012, it should nearly double to about $350 million.
  • Ursa Resources Group LLC (“Ursa”), a privately held oil and gas exploration and production company focused on development of the Bakken and Three Forks formations in the Williston Basin, announced today that it has flow tested its Jeanie 25-36 #2H Bakken well in McKenzie County, North Dakota. During early flowback over a 24 hour period, the Jeanie flowed at an average of 1,185 BOEPD (1,004 BO/D, 1,085 MCF/D) on a 48/64″ choke. Jeanie is a long lateral Bakken well completed with 30 fracture stimulation stages.

Look for our upcoming article on “Commoditization in the Bakken”