Markets Rebound – Bakken gets a lift

Markets rebounded decisively on positive European bailout news on Friday with the Dow and Nasdaq with gains of 2.2% and 3% respectively.     Many Bakken stocks got a much needed boost with gains of 3-9% across most Bakken O&G companies.  For many of the stocks,  the move represents a push above the 15 day MA of the stocks and hopefully will provide a support base for future gains.

52-Wk Range &
OAS 24.18 17.99 35.46 Up 1.63 Up 7.23% Sparkline Chart
GEOI 36.61 14.56 38.76 Down 0.05 Down 0.14% Sparkline Chart
WLL 41.12 28.87 63.97 Up 2.77 Up 7.22% Sparkline Chart
CLR 66.62 42.43 97.19 Up 3.65 Up 5.80% Sparkline Chart
EOG 90.11 66.81 119.97 Up 4.95 Up 5.81% Sparkline Chart
NOG 15.94 13.25 28.00 Up 0.53 Up 3.44% Sparkline Chart
KOG 8.21 3.59 10.90 Up 0.71 Up 9.47% Sparkline Chart
HES 43.45 39.67 77.12 Up 2.33 Up 5.67% Sparkline Chart
MDU 21.61 18.00 23.28 Up 0.24 Up 1.12% Sparkline Chart

The region was busy with a lot of key developments as listed below:

Keep drillin’

RD Gupta

OSHA weighs in on frack debate

Frack Sand commonly used in Hydraulic Fracking

The Occupational Safety and Health Administration issued an alert on Friday to protecting workers at drilling sites with hydraulic fracturing operations.  Hydraulic fracturing involves blasting rock with water, sand and chemicals to extract the valuable oil and natural gas.      Part of the sand is a silica component that OSHA says poses a risk of silicosis, a “lung disease where lung tissue around trapped silica particles reacts, causing inflammation and scarring and reducing the lungs’ ability to take in oxygen.” They also indicate silica  is linked to lung cancer and tuberculosis.

A hazard alert they issued Thursday describes how engineering controls, work practices, protective equipment, worker training and product substitution can protect employees.  In cooperation with oil and gas industry partners, NIOSH collected 116 full shift air samples at 11 hydraulic fracturing sites in five states (Arkansas, Colorado, North Dakota, Pennsylvania, and Texas) to determine the levels of worker exposure to silica at various jobs at the worksites. Many air samples showed silica levels for workers in and around the dust generation points above defined occupational exposure limits.

Given the Bakken region uses predominantly hydrauling fracking as part of the extraction process, this could have an effect on drillers in the region if the media takes hold of this report.    Thus far,  Fracking concerns have not slowed North Dakota oil production at risk as it is the current (and possibly only) lifeblood of the state economy.   We don’t see a short term impact for O&G companies in the region,  but there is a possibility that sand/silica producers like US Silica (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 ) could get hit as the negative sentiment swirls.  We will be tracking this story closely in the coming weeks to determine the impact on Bakken drillers.

 

 

 

Active Drilling Rigs: June 2012

It has been half a year since we profiled Active Drilling Rigs in the Bakken region and surprisingly not much has changed in that time.    The number of rigs has grown steadily by 7% in that time from 200 back in December of 2011 to 214 in June.   If we take a look at the major players below,  the numbers have stayed fairly static either adding or reducing a rig or two.  Brigham Exploration, now Statoil (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 ) saw the largest increase adding 3 rigs in the last 6 months.   We have also seen movement from WPX Energy (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 ) which has 6 rigs in the region.

 

Rig Operator Well Name and Number Current Location
RAVEN 1 ABRAXAS PETROLM CORP. RAVIN 26-35-3H LOT2 2-149N-97W
DHS 9 AMERICAN EAGLE COPLAN 1-3-163-101 LOT1 3-163N-101W
DHS 4 BAKKEN AQUA, LLC BAKKEN BACKWASH 7 NENE 19-156N-94W
ENSIGN 67 BAYTEX ENERGY USA LTD KARLGAARD 22-15-160-98H 1PB SWSE 22-160N-98W
PRECISION 607 BAYTEX ENERGY USA LTD M. JOHNSON 35-26-162-98H 1PB SWSE 35-162N-98W
NABORS 476 BRIGHAM OIL & GAS LP SKARSTON 1-12 #1-H LOT2 1-152N-99W
NABORS 49 BRIGHAM OIL & GAS LP TAYLOR 14-23 1H NWNE 14-151N-102W
H & P 277 BRIGHAM OIL & GAS LP BRATCHER 10-3 #3TFH SESE 10-151N-101W
NABORS 460 BRIGHAM OIL & GAS LP BRATCHER 10-3 4H NWNW 15-151N-101W
NABORS B19 BRIGHAM OIL & GAS LP CHERYL 17-20 #3TFH SWSE 8-152N-98W
PRECISION 51 BRIGHAM OIL & GAS LP GUNDERSON 15-22 5H NWNW 15-152N-98W
NABORS B13 BRIGHAM OIL & GAS LP DOMASKIN 30-31 #3H NWNE 30-155N-92W
NOMAC 323 BRIGHAM OIL & GAS LP ARVID ANDERSON 14-11 #3H SESE 14-155N-92W
NABORS B14 BRIGHAM OIL & GAS LP ESTHER HYNEK 10-11 #4TFH SWSW 10-155N-93W
PRECISION 520 BRIGHAM OIL & GAS LP LIFFRIG 29-20 #2H SESE 29-156N-93W
NABORS 52 BRIGHAM OIL & GAS LP WRIGHT 4-33 #3TFH SESE 4-155N-93W
NABORS B18 BRIGHAM OIL & GAS LP JEROME ANDERSON 10-15 4H NWNW 10-155N-92W
NABORS 254 BRIGHAM OIL & GAS LP HOSPITAL 31-36 2TFH SESE 31-156N-92W
UNIT 106 BRIGHAM OIL & GAS LP WAGENMAN 29-32 1-H NWNW 29-155N-101W
NABORS 182 BRIGHAM OIL & GAS LP MARCIA 3-10 #1H LOT1 3-153N-100W
NOMAC 316 BRIGHAM OIL & GAS LP HEEN 26-35 3TFH NENE 26-155N-101W
NABORS 92 BURLINGTON RES O&G CO CONCORD 44-10MBH SESE 10-147N-97W
PRECISION 567 BURLINGTON RES O&G CO CCU POWELL 21-29MBH NWNE 29-147N-95W
NABORS B20 BURLINGTON RES O&G CO CCU GOLDEN CREEK 33-23PH NWSE 23-147N-95W
NABORS 687 BURLINGTON RES O&G CO CARLSBAD 21-17H NENW 17-152N-97W
H & P 286 BURLINGTON RES O&G CO DAYTON 14-22MBH SWSW 22-148N-98W
NABORS 59 BURLINGTON RES O&G CO BIG BEND 31-2TFH NWNE 2-151N-96W
NABORS B16 BURLINGTON RES O&G CO MIDNIGHT RUN 11-1TFH LOT4 1-152N-96W
H & P 446 BURLINGTON RES O&G CO IRON HORSE 31-2TFH LOT2 2-152N-96W
PRECISION 825 BURLINGTON RES O&G CO MORGAN 21-28MBH 2NH NENW 28-150N-96W
ENSIGN 161 CONTINENTAL RESOURCES KUBAS 1-22H SESW 22-141N-98W
PRECISION 831 CONTINENTAL RESOURCES REPETOWSKI 1-36H SESW 36-141N-99W
CYCLONE 1 CONTINENTAL RESOURCES WMPHU 11-9H NWNW 9-130N-104W
CYCLONE 31 CONTINENTAL RESOURCES MARUSKIE 2-22H SESW 22-160N-94W
PATTERSON 490 CONTINENTAL RESOURCES LAKEWOOD 2-20H SESW 20-161N-96W
CYCLONE 28 CONTINENTAL RESOURCES GALE 3-32H SWSW 29-147N-96W
CYCLONE 2 CONTINENTAL RESOURCES FLORIDA 3-11H SWNE 14-152N-100W
PATTERSON 180 CONTINENTAL RESOURCES MORISON 1-14H NWNE 14-148N-99W
CYCLONE 20 CONTINENTAL RESOURCES BJARNE 1-29H NENW 29-151N-100W
CYCLONE 4 CONTINENTAL RESOURCES MONROE 1-2H LOT11 2-152N-99W
ENSIGN 152 CONTINENTAL RESOURCES FRISCO 1-31H SWSE 31-152N-102W
CYCLONE 14 CONTINENTAL RESOURCES SORENSON 1-21AH SESE 21-154N-94W
CYCLONE 19 CONTINENTAL RESOURCES RALPH 1-22H NWSE 22-153N-99W
PRECISION 832 CONTINENTAL RESOURCES TANDE 3-23H SESE 23-159N-95W
CYCLONE 25 CONTINENTAL RESOURCES RADER 154-100-24-25-1H NENW 24-154N-100W
CYCLONE 8 CONTINENTAL RESOURCES LAWRENCE 5-13H SESW 12-159N-95W
TRINIDAD 36 CONTINENTAL RESOURCES BAR PS 1-25H NWNW 25-159N-97W
H & P 275 CONTINENTAL RESOURCES MARCY 3-24H SWSW 24-157N-98W
AES 4 CONTINENTAL RESOURCES HELENA 3-7H SWSE 7-155N-98W
PATTERSON 183 CONTINENTAL RESOURCES GRANT 1-16H NENW 16-159N-97W
CYCLONE 5 CONTINENTAL RESOURCES BISMARCK 3-9H SESE 9-155N-98W
PATTERSON 515 CONTINENTAL RESOURCES JEFFERSON 2-17H NWNW 17-153N-99W
ENSIGN 118 CORNERSTONE NAT RES LLC ALBERTSON 6-27-34H NWNE 27-161N-90W
STONEHAM 11 CRESCENT PT ENERGY US WALTERS 35-26-158N-101W NWNE 2-157N-101W
STONEHAM 17 CRESCENT PT ENERGY US CPEUSC CLERMONT 18-19-158N-100W SWSE 7-158N-100W
PRECISION 289 DENBURY ONSHORE TRMU 22X-16H SENW 16-141N-101W
H & P 456 DENBURY ONSHORE DWYER 14-33NEH SWSW 33-150N-100W
PATTERSON 305 DENBURY ONSHORE TABACCO GARDEN 31-31-29SEH NWNE 29-151N-99W
H & P 448 DENBURY ONSHORE GRIMESTAD 34-33NWH SWSE 33-153N-95W
H & P 454 DENBURY ONSHORE GILBERTSON 31-16SEH NWNE 16-150N-98W
STRIDE 798 ENCORE ENERGY PARTNERS OP LLC OLSON 1-30 NWSE 30-129N-104W
PRECISION 631 ENERPLUS RES USA CORP HARMONY 148-93-18C-07-2H TF SESW 18-148N-93W
ENSIGN 88 ENERPLUS RES USA CORP BELUGA 148-93-06B-05-3H LOT5 6-148N-93W
PRECISION 560 ENERPLUS RES USA CORP BRADFIELD 31-14H LOT4 31-149N-94W
DHS 12 EOG RESOURCES INC VANVILLE 20-1201H NESE 12-159N-91W
CRAIG 5 EOG RESOURCES INC MANDAREE 101-20H NWNW 20-149N-94W
SST 58 EOG RESOURCES INC BEAR DEN 104-2116H NWNE 21-150N-94W
NOMAC 328 EOG RESOURCES INC HAWKEYE 100-2501H NENE 25-152N-95W
TRUE 33 EOG RESOURCES INC WEST CLARK 102-2413H SWNE 24-151N-95W
TRUE 32 EOG RESOURCES INC SIDONIA 45-0409H LOT4 4-158N-90W
NABORS 527 EOG RESOURCES INC FERTILE 46-1608H SESW 16-151N-90W
PRO-OILFIELD SR1 FIDELITY EXPL & PROD CO AMUNDSON 23-14H SWSE 23-155N-91W
NABORS 784 FIDELITY EXPL & PROD CO HANSEN 18-19H NENW 18-155N-91W
NABORS 108 FIDELITY EXPL & PROD CO ISAAC 11-23H NWNW 23-153N-92W
NABORS 280 FIDELITY EXPL & PROD CO KUCHYNSKI 12-1H SESW 12-140N-97W
PATTERSON 320 FIDELITY EXPL & PROD CO TUHY HOMESTEAD 14-23H NENE 14-140N-98W
STONEHAM 16 G3 OPERATING LLC BERG 1-29-32H SWSE 20-157N-101W
UNIV DRLG 1 GADECO, LLC ALEXANDER 26-35H NENW 26-155N-99W
PARAMOUNT 1E GMX RESOURCES FAIRFIELD STATE 21-16-1H NENW 16-143N-99W
PRECISION 604 HELIS OIL & GAS CO. LLC TAT 13-35/26H SWSW 35-149N-95W
PRECISION 620 HELIS OIL & GAS CO. LLC BERT 2-2/11H LOT3 2-149N-95W
H & P 295 HESS CORPORATION MC-SICKLER-144-95- 1423H-1 SWSW 11-144N-95W
H & P 241 HESS CORPORATION LK-HAMILTON 146-97-3526H-3 SWSE 35-146N-97W
NABORS B06 HESS CORPORATION AN-GUDBRANSON-153-94- 2215H-1 SESW 22-153N-94W
PRECISION 564 HESS CORPORATION BW-ABM 149-100-1819H-1 SESW 7-149N-100W
PRECISION 618 HESS CORPORATION BW-STOVELAND 149-100-1003H-1 SESW 10-149N-100W
H & P 294 HESS CORPORATION HA-SWENSON 152-95-1819H-3 NWNW 18-152N-95W
KEY NRG 885 HESS CORPORATION HA-SWENSON OBSERVATION- 18-3 SENW 18-152N-95W
MAJOR 24 HESS CORPORATION HA-SWENSON-152-95- 1819H-5 NWNE 18-152N-95W
NABORS B-5 HESS CORPORATION EN-JOHNSON-155-94- 2017H-1 SESW 20-155N-94W
NABORS B-03 HESS CORPORATION EN-HORST 154-93-0310H-3 LOT1 3-154N-93W
NABORS B2 HESS CORPORATION EN-DAKOTA N-155-94- 211609H-1 NENW 21-155N-94W
NABORS B4 HESS CORPORATION EN-HANSON-156-94- 3031H-3 LOT1 30-156N-94W
NABORS B1 HESS CORPORATION EN-LABAR 154-94-0310H-2 LOT4 3-154N-94W
MAJOR 27 HESS CORPORATION EN-REHAK 155-93-0718H-3 NENW 7-155N-93W
PRECISION 563 HESS CORPORATION SC-JW HAMILTON-153-99- 1314H-1 LOT2 18-153N-98W
PRECISION 562 HESS CORPORATION GO-HILL 158-98-3427H-1 SWSE 34-158N-98W
PRECISION 561 HESS CORPORATION GO-ANDERSON 157-97-36H-1 SESW 36-157N-97W
H & P 179 HESS CORPORATION GO-QVALE TRUST 158-97-3229H-1 SWSE 32-158N-97W
H & P 293 HESS CORPORATION GO-DARRYL-158-98- 0904H-1 SWSE 9-158N-98W
H & P 317 HUNT OIL COMPANY HALLIDAY 3-11-2H SESE 11-146N-93W
NOMAC 320 HUNT OIL COMPANY BEAR BUTTE 1-4-9H LOT2 4-148N-101W
TRINIDAD 221 HUNT OIL COMPANY HORST 2-25H SWSW 24-154N-90W
FRONTIER 19 HUNT OIL COMPANY LEE 2-8-5H SESW 8-154N-89W
MAJOR 41 HUNT OIL COMPANY SHELL 2-6-7H LOT4 6-153N-89W
ENSIGN 89 KODIAK OIL & GAS (USA) INC TWO SHIELDS BUTTE 5-7-8-1H LOT 2 7-149N-92W
UNIT 117 KODIAK OIL & GAS (USA) INC SKUNK CREEK 12-7-8-9H3 LOT3 7-148N-92W
UNIT 118 KODIAK OIL & GAS (USA) INC KOALA 14-32-29-2H3 SESW 32-152N-99W
UNIT 126 KODIAK OIL & GAS (USA) INC SMOKEY 15-7-6-2H3 SWSE 7-149N-98W
UNIT 123 KODIAK OIL & GAS (USA) INC SMOKEY CUPCAKE 14-21-16-3H3 SESW 21-149N-98W
UNIT 109 KODIAK OIL & GAS (USA) INC P ALEXANDER 155-99-16-11-2-1H3 SESE 11-155N-99W
UNIT 328 KODIAK OIL & GAS (USA) INC P ALICE 154-99-4-3-27-4H3 LOT4 3-154N-99W
FAITH 4 LANDTECH ENTERPRISES LLC RIDL SWD 1 SWSW 4-140N-99W
H & P 309 LIBERTY RESOURCES GULLIKSON 152-103-31-30-1H SESW 31-152N-103W
PATTERSON 134 LIBERTY RESOURCES LUKENBILL 155-101-11-2-1H SWSE 11-155N-101W
H & P 438 MARATHON OIL CO RH 34-31TFH SWSE 31-146N-93W
H & P 392 MARATHON OIL CO LORENE STOHLER 11-3H LOT 4 3-146N-94W
H & P 386 MARATHON OIL CO TOM STEFFAN 21-27H NENW 27-144N-96W
H & P 259 MARATHON OIL CO PEGGY SCHETTLER 14-33H SWSW 33-146N-92W
H & P 258 MARATHON OIL CO WALTOM USA 43-8TFH NESE 8-151N-93W
H & P 256 MARATHON OIL CO AISENBREY 21-25TFH NENW 25-151N-93W
H & P 257 MARATHON OIL CO IONE BARSTAD USA 31-30H LOT4 19-157N-103W
PRECISION 602 MUREX PETROLEUM CORP MICHAEL WADE 1-12H LOT2 1-154N-91W
PRECISION 645 MUREX PETROLEUM CORP CANDI LYNN 36-25H NESE 36-155N-91W
PATTERSON 335 NEWFIELD PROD CO BERNICE 150-99-20-17-2H SESE 20-150N-99W
NABORS B11 NEWFIELD PROD CO CHAMELEON STATE 153-97-16-21-2H NWNE 16-153N-97W
NABORS 272 NEWFIELD PROD CO ROLFSRUD 152-96-32-2H NWNW 32-152N-96W
H & P 457 OASIS PETRO NO AMER ISABELLA 6093 42-24H SESW 24-160N-93W
NABORS 149 OASIS PETRO NO AMER CASEY 5200 13-30B NWNE 30-152N-100W
NABORS 165 OASIS PETRO NO AMER ORION FEDERAL 5792 42-20H SESW 20-157N-92W
EXTREME 17 OASIS PETRO NO AMER A K STANGELAND 5300 43-12T SWSE 12-153N-100W
NABORS 110 OASIS PETRO NO AMER NATHAN 5502 21-4B SWNW 4-155N-102W
EXTREME 21 OASIS PETRO NO AMER BASEY 5300 44-12T SESE 12-153N-100W
NABORS 177 OASIS PETRO NO AMER TANNER T 5601 42-24B SESW 24-156N-101W
WHITE MT. 314 OASIS PETRO NO AMER JENNA 5604 13-1H LOT2 1-156N-104W
TRINIDAD 118 OXY USA INC SPLIT RIDGE 1-2-1H-160-91 SWNW 2-160N-91W
ENSIGN 153 OXY USA INC BEATRICE KUBISCHTA 3-15-22H-143-96 NENW 15-143N-96W
H & P 255 OXY USA INC BILL CODY 1-20-29H-141-96 NWNE 20-141N-96W
NABORS B10 OXY USA INC MONGOOSE 1-13-24H-142-95 SESE 12-142N-95W
UNIT 121 OXY USA INC GRIGGS 2-8-9H-142-97 NWNW 8-142N-97W
UNIT 120 OXY USA INC STATE 2-25-36H-144-97 NWNW 25-144N-97W
H & P 325 OXY USA INC FEDERAL TORMASCHY 1-8-5H-142-96 SESE 8-142N-96W
UNIT 119 OXY USA INC LAMEY 2-30-31H-143-96 NENE 30-143N-96W
NABORS B9 OXY USA INC STATE 2-16-21H-143-96 SESW 9-143N-96W
H & P 329 OXY USA INC STATE FRANK BUTLER 1-29-32H-142-94 NWNE 29-142N-94W
MAJOR 001 OXY USA INC MANNING SWD 1 SESE 31-143N-95W
CANELSON 42 PETRO HARVESTER OPERATING RICE 14 SWSE 8-161N-82W
ENSIGN 24 PETRO HUNT LLC CARLSON 159-94-4B-9-1H LOT4 4-159N-94W
ENSIGN 46 PETRO HUNT LLC WOLD 160-94-32A-5-4H NWNE 32-160N-94W
H & P 180 PETRO HUNT LLC FORT BERTHOLD 148-94-9D-04-2H SESE 9-148N-94W
ENSIGN 77 PETRO HUNT LLC FORT BERTHOLD 148-95-25B-36-1H SWSW 24-148N-95W
UNIT 329 PETRO HUNT LLC FORT BERTHOLD 147-94-2A-11-2H NENE 2-147N-94W
UNIT 108 PETRO HUNT LLC FORT BERTHOLD 148-95-27A-34-2H NWNE 27-148N-95W
UNIT 234 PETRO HUNT LLC GOOD SHEPHERD HOME 150-101-15B-22-1H NWNE 15-150N-101W
NOMAC 322 PETRO HUNT LLC FORT BERTHOLD 152-93-18B-19-2H NENW 18-152N-93W
NOMAC 308 PETRO HUNT LLC ANDERSON 152-96-35D-26-4H SWSE 35-152N-96W
UNIT 233 PETRO HUNT LLC FORT BERTHOLD 152-93-9C-10-2H SWSW 9-152N-93W
PATTERSON 491 PETRO HUNT LLC WISNESS 152-96-28A-33-2H NWNE 28-152N-96W
TRUE 31 PETRO HUNT LLC CLEAR CREEK 152-96-34D-2H LOT2 3-151N-96W
ENSIGN 93 PETRO HUNT LLC HOKANSON 157-99-1A-12-1H LOT2 1-157N-99W
PATTERSON 338 QEP ENERGY CO MHA 1-31-30H-150-91 SESE 31-150N-91W
PATTERSON 341 QEP ENERGY CO MHA 2-06-07H-147-92 SESE 31-148N-92W
PATTERSON 319 QEP ENERGY CO MHA 2-05-04H-148-91 NWSW 5-148N-91W
SST 66 QEP ENERGY CO MHA 5-29-30H-150-90 SENE 29-150N-90W
NABORS 455 SAMSON RESOURCES CO SARATOGA 12-1-161-92H NWNE 13-161N-92W
PIONEER 71 SAMSON RESOURCES CO CAMINO 5-8-163-98H LOT2 5-163N-98W
H & P 324 SAMSON RESOURCES CO NOMAD 0607-5H SWSE 31-164N-99W
PATTERSON 136 SINCLAIR OIL & GAS CO ERSA FEDERAL 1-4H LOT2 4-148N-99W
CYCLONE 27 SLAWSON EXPLORATION WOLVERINE FEDERAL 4-31-30TFH SESE 31-153N-93W
NABORS 419 SLAWSON EXPLORATION MAGNUM 3-36-25H SESE 36-153N-101W
CANELSON 41 SLAWSON EXPLORATION FOX 2-28H SWSE 21-152N-92W
PATTERSON 167 SLAWSON EXPLORATION WHIRLWIND 2-31H NENW 6-151N-92W
FRONTIER 16 SLAWSON EXPLORATION JERICHO 3-5H LOT3 5-151N-92W
NABORS 152 SM ENERGY CO CARTER 9-8HW NESE 8-163N-101W
EXTREME 18 SM ENERGY CO ANDERSON 5-14H SWNW 14-149N-96W
NABORS 686 SM ENERGY CO NORBY 9X-20HB NESE 20-153N-95W
WHITE MT. 750 SM ENERGY CO HOLM 14-12HA SESW 12-150N-99W
EXTREME 7 TRIANGLE USA PETROLEUM FREDERICK JAMES 149-101-3-10-1H LOT3 3-149N-101W
PIONEER 42 TRIANGLE USA PETROLEUM STATE 154-102-25-36-1H NENW 25-154N-102W
TRUE 36 TRUE OIL LLC SLASH FEDERAL 44-33 4-9H SESE 33-148N-101W
NABORS B08 WHITING OIL AND GAS CORP CERKONEY 21-2TFH LOT3 2-141N-100W
NABORS 267 WHITING OIL AND GAS CORP ROSS 13-2 NWSW 2-141N-105W
NABORS B07 WHITING OIL AND GAS CORP RENBARGER 21-27H NENW 27-150N-100W
NABORS 587 WHITING OIL AND GAS CORP MOEN 41-26H NENE 26-150N-100W
PRECISION 109 WHITING OIL AND GAS CORP CARL KANNIANEN 22-32TFX SENW 32-154N-91W
PRECISION 110 WHITING OIL AND GAS CORP S-BAR 21-2H LOT3 2-153N-93W
PIONEER 66 WHITING OIL AND GAS CORP ROGGENBUCK 41-24XH NENE 24-153N-93W
PIONEER 57 WHITING OIL AND GAS CORP CVANCARA 12-14TFH NWNW 14-155N-93W
PIONEER 56 WHITING OIL AND GAS CORP FLADELAND 14-27H SWSW 27-153N-91W
PIONEER 67 WHITING OIL AND GAS CORP ESTVOLD 41-26H NENE 26-153N-92W
PRECISION 106 WHITING OIL AND GAS CORP PENNINGTON 11-3TFH LOT4 3-152N-92W
H & P 316 WHITING OIL AND GAS CORP SOLBERG 34-11PH SWSE 11-140N-99W
H & P 276 WHITING OIL AND GAS CORP TOMCHUK 21-30PH NENW 30-140N-98W
NABORS B15 WHITING OIL AND GAS CORP BUCKMAN 34-9PH SWSE 9-140N-99W
PIONEER 3 WHITING OIL AND GAS CORP KUBAS 12-13PH SWNW 13-140N-99W
PATTERSON 301 WPX ENERGY WILLISTON LLC FETTIG 6-7HC LOT3 6-148N-94W
NABORS B17 WPX ENERGY WILLISTON LLC CHARLES BLACKHAWK 31-30HA SESW 31-148N-92W
PRECISION 96 WPX ENERGY WILLISTON LLC LINSETH 13-13/12H LOT4 13-149N-95W
NABORS 486 WPX ENERGY WILLISTON LLC SWEET GRASS WOMAN 22-15HB NWNW 27-150N-94W
PATTERSON 336 WPX ENERGY WILLISTON LLC GEORGE EVANS 11-2HZ SWSE 11-150N-92W
SST 68 WPX ENERGY WILLISTON LLC MASON 2-11HWR NENW 2-150N-92W
NABORS 109 XTO ENERGY INC FBIR GRINNELL 34X-33 SWSE 33-149N-91W
NABORS 681 XTO ENERGY INC FBIR GEORGEBLACKHAWK 21X-6 LOT3 6-148N-91W
NABORS 265 XTO ENERGY INC TUCKERMAN 11X-11B NWNW 11-148N-96W
PATTERSON 191 XTO ENERGY INC RUBY STATE 34X-36G SWSE 36-154N-97W
NABORS 680 XTO ENERGY INC FLATLAND 11X-2A LOT4 2-153N-97W
H & P 239 XTO ENERGY INC ROXY 21X-6B LOT3 6-154N-96W
NABORS 742 XTO ENERGY INC SASS 34X-8E SWSE 8-154N-95W
PRECISION 512 ZAVANNA LLC GEORGE 19-30 1H NENW 19-154N-99W
NABORS 350 ZAVANNA LLC SYLVESTER 1-32H SWSE 32-155N-100W
ENSIGN 76 ZENERGY INC NELSON 14-23H SESW 11-152N-98W
NOMAC 327 ZENERGY INC WAHLSTROM 3-10H LOT3 3-151N-102W
ENSIGN 158 ZENERGY INC HELM 19-30H NENE 19-151N-104W
NOMAC 315 ZENERGY INC NELSON 24-13H SESW 24-157N-100W

Weekly Roundup: Will Bakken turn the corner?

It has been a while since our last post so I do apologize,  but we should be bringing you more Bakken news in the coming weeks!    The last 2 months have been hard on many Bakken players due to the downward pressure on oil due to European pressures as well as domestic unease about the economy.      This week, there was some firming on oil prices as some fears subsized over Spain’s debt,  and most Bakken stocks including Northern Oil & Gas (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 ) ,  Continental Resources (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 ) &  Oasis Petroleum (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 ) bounced back with 3-4% weekly gains.   They are still all approximately down 15-30% from 52 week highs and we will have to see where oil prices converge towards before having more confidence in a meaningful recovery.    Some of the smaller players like Northern Oil & Gas, Oasis Petroleum and Kodiak Oil & Gas do look cheap with forward PE’s below 10.

52-Wk Range &
NOG 17.61 13.25 28.00 Up 0.49 Up 2.86% Sparkline Chart
CLR 70.74 42.43 97.19 Up 0.73 Up 1.04% Sparkline Chart
KOG 8.01 3.59 10.90 Up 0.21 Up 2.69% Sparkline Chart
WLL 40.92 28.87 63.97 Up 0.74 Up 1.84% Sparkline Chart
OAS 24.86 17.99 35.46 Up 0.51 Up 2.09% Sparkline Chart
GEOI 37.92 14.56 38.25 Up 0.43 Up 1.15% Sparkline Chart

In terms of Bakken news, it has been a busy month and we touch on the major happenings below:

  • GMX RESOURCES INC. (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 ) , a 60 Million dollar micro-cap O&G company,  announced that the Company has successfully drilled and completed its sixth operated horizontal Bakken well, the Johnston 31-4-1H, 55% working interest, located in Sections 4&9 Township 146N Range 99W in McKenzie County, North Dakota. The Johnston 31-4-1H was drilled to a measured depth of 20,979′ with a lateral length of 8,869′. It was completed as a 34-stage frac Middle Bakken producer achieving a peak rate of 1,479 boepd. The Johnston 31-4-1H had a spud to total depth of 29 days, a spud to rig release of 31 days and a spud to sales of 58 days.
  • Triangle Petroleum (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 ) got a reiteration of a buy rating from Cannacord Genuity last week.  Analyst, Marcus Talbert, said, “We are reiterating our rating and revising our price target following Triangle’s Q1/13 financial and operations update. In our view the recent share underperformance is not warranted given the strong project updates and relative growth outlook. TPLM remains one of our favorite ideas based on its meaningful leverage to the Bakken play and impactful near-term catalysts. We believe the current valuation represents a compelling buying opportunity given the accelerated development potential and operated catalysts in H2/12.”
  • Harold Hamm, CEO of Continental Resources (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 ) showed optimism in his company by making over 7 million dollars in insider buys of CLR over the last 6 months.  Hamm’s average cost works out to $71.68/share.  Shares of Continental Resources Inc. closed Friday’s session at $70.74.
  • North Dakota still continues its economic growth in the Bakken region.   North Dakota produces a record amount of oil during the month of April at a clip of over 600,000 barrels per day besting Alaska to continue in the No. 2 spot in terms of oil production.    North Dakota continues to lead the nation with the lowest state unemployment rate at four-year low of 3.0% in April.

We will take a look at drilling reports and trends in the coming days on BakkenStocks.  Have a great Father’s Day!