The last few weeks have been tough on investors with wild swings in both directions and an inability to predict the markets next moves. We are staying steadfast in our bullishness on both Brigham Exploration (
- After intense selling pressure last week, most Bakken stocks rebounded upwards 10-15% in the last 2 trading days but most are still trading well below their 2011 highs.
- On September 26th, Enbridge shut the 25,000-barrel-a-day Line 26, which transports oil from Berthold, North Dakota, to Steelman, Saskatchewan. The pipeline was shut down due to a leak and there is currently no timetable to bring the pipeline back online
- Two of Whiting Oil’s (
Yahoo! – 403 Forbidden — error 403It has come to our attention that this service is being used in violation of the Yahoo Terms of Service. As such: the service is being discontinued. For all future markets and equities data research ) wells, Smith 34-12TFH and Lydia 21-14TFH at Lewis & Clark Completed with Initial Flow Rates of 2,939 BOE/D and 1,960 BOE/D, Respectively. Whiting Oil has 1,102,302 gross and 680,137 net acres in the Bakken/Three Forks region.
- Hess Corp (HES.N) Chief Executive John Hess believes oil output from shale prospects in unconventional sources from North Dakota to Texas could reach 1.5 million to 2 million barrels-per-day (bpd) in the coming five to seven years, twice as much as the 700,000 bpd currently produced in these places.
In looking at the major players in the region, Northern Oil & Gas was the only one to end up net positive after a week of brutal selling as a result of increased production. Hopefully the remaining players can follow suite as the market recovers in the short term.