Mailbag Roundup

Posted by bakkenexpert

Below are some recent questions via email I’d thought I’d share:

Q: What happened to WSEG, It has gone down quite a bit to .19 since you blogged about it. Is it worth buying here?
A: I still believe WSEG could be a 10 bagger although the potential exists for it to gravitate to under .10 cents if no positive developments occur in the next 12 months. I am a buyer at .19 but this should be a tiny portion of any portfolio (< 5%). Continue to expect volatility in this stock.

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Q: What about some info on non E&P companies that may benefit from the Bakken?
A: We are actively looking at this now and should have a blog entry or two shortly. There are a number of ancillary companies such as transportation and drillers that could benefit from the bakken

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Q: What are your favorite picks now that oil has dropped quite a bit
A: SM & CLR look very attractive under $50. For something a little risker, NOG looks good under $8.

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Q: Could you please tell me what “confidential” oil well means? I have one that is listed on your site, and would like to understand more about the classification.
A: When an oil company is exploring in a new territory they have the option to list the well as confidential (also commonly known in the industry as a “tight hole”) and release limited data on the well; however, by state law, they must release full data to the state regulatory agency overseeing the operation after a period of two years.

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Active Drilling Report – August 28, 2008

Posted by bakkenexpert

The latest Active Drilling Report shows that the number of Active Drilling Rigs has increased by 4 over the last report.  Continental is still far and away the leader with 18% of all Active Drilling Rigs with Marathon, Hess and  EOG running a distant second.    It is also interesting to note that Nabors is far and away the leader in terms of the rig provider with more than 30 rigs in the region.    This is still a tiny percentage of Nabors overall rigs but it is possible that in 2-3 years Nabors could be an ancillary Bakken play with over 100 rigs in the region.

Rig	Operator	Well Name and Number
NABORS 49	BRIGHAM OIL & GAS LP	ADIX 25 1-H
NABORS 59	BURLINGTON RES O&G CO	FOX TAIL 31-10H
PRECISION 645	BURLINGTON RES O&G CO	AUDUBON 41-27H
NABORS 688	BURLINGTON RES O&G CO	HAWKEYE 41-11H
NABORS 177	BURLINGTON RES O&G CO	RINK 24-8H
NABORS 52	BURLINGTON RES O&G CO	MIDNIGHT RUN 41-1H
CYCLONE 26	CONTINENTAL RESOURCES	HEGGE 43-36 WSW
CYCLONE 9	CONTINENTAL RESOURCES	FISCHER 11-16SH
CYCLONE 22	CONTINENTAL RESOURCES	PAMELA 13-23SH
CYCLONE 27	CONTINENTAL RESOURCES	LOWE 44-9SH
CYCLONE 18	CONTINENTAL RESOURCES	GRAHAM 43-35SH
PATTERSON 136	CONTINENTAL RESOURCES	VIOLA 1-7H
CYCLONE 2	CONTINENTAL RESOURCES	SHONNA 1-15H
PATTERSON 82	CONTINENTAL RESOURCES	MORRIS 1-23H
CYCLONE 19	CONTINENTAL RESOURCES	SLOAN 1-17H
CYCLONE 10	CONTINENTAL RESOURCES	MITTLESTADT 1-20H
CYCLONE 23	CONTINENTAL RESOURCES	OMLID 1-7 H
PATTERSON 180	CONTINENTAL RESOURCES	KIRKLAND 1-33H
NABORS 42	CONTINENTAL RESOURCES	ANDREW 24-32NH
CYCLONE 21	CONTINENTAL RESOURCES	MALCOM 1-29H
TRINIDAD 36	CONTINENTAL RESOURCES	MARLENE 1-10H
NABORS 277	ENCORE OPERATING LP	CHARLSON 14X-35H
CYCLONE 25	ENCORE OPERATING LP	MCCOY 44-36H
NABORS 149	EOG RESOURCES INC	BURKE 1-34H
PIONEER 56	EOG RESOURCES INC	AUSTIN 19-30H
ENSIGN 67	EOG RESOURCES INC	AUSTIN 15-17H
ENSIGN 88	EOG RESOURCES INC	WAYZETTA 21-19H
NABORS 161	EOG RESOURCES INC	WAYZETTA 6-12H
NABORS 337	EOG RESOURCES INC	PARSHALL 8-24H
PIONEER 57	EOG RESOURCES INC	PARSHALL 9-30H
NABORS 358	FIDELITY EXPL & PROD CO	WEINMANN 11-28H
NABORS 455	FIDELITY EXPL & PROD CO	CARTER MATTHEW 13-24H
NABORS 417	FIDELITY EXPL & PROD CO	REUM 11-32H
ENSIGN 24	HEADINGTON OIL CO LLC	ALKALI CREEK 44X-10
NABORS 560	HEADINGTON OIL CO LLC	DEANGELIS 41X-21
NABORS 558	HELIS OIL & GAS CO. LLC	STATE 4-36H
NABORS 272	HESS CORPORATION	AV-WRIGLEY-163-94- 0607H-1
NABORS 165	HESS CORPORATION	BB-RICE-150-95- 0718H-1
NABORS 556	HESS CORPORATION	EN-CVANCARA-155-93- 1522H-1
H & P 241	HESS CORPORATION	RS-R AADNES-157-91- 2726H-1
H & P 179	HESS CORPORATION	RS-AADNES-157-91- 2829H-1
NABORS 742	HESS CORPORATION	ST-ANDES-151-89- 2413H-1
NABORS 557	HESS CORPORATION	BL-OLSON-155-96- 1003H-1
NABORS 140	HUNT OIL COMPANY	ERICKSON 1-7H
BRONCO 20	HUNT OIL COMPANY	KULLAND 1-30H
NABORS 684	LUFF EXPLORATION CO	SANDY WHITE P-26H
H & P 258	MARATHON OIL CO	OSCAR STOHLER 41-4H
H & P 255	MARATHON OIL CO	T. KUPPER 14-11H
H & P 259	MARATHON OIL CO	STROMMEN 14-8H
NABORS 44	MARATHON OIL CO	BOB TUHY 44-19H
PATTERSON 183	MARATHON OIL CO	STEFFAN 14-22H
H & P 257	MARATHON OIL CO	LARRY REPP 31-16H
H & P 256	MARATHON OIL CO	MARK SANDSTROM 14-32H
CYCLONE 20	MUREX PETROLEUM CORP	CHANDLER JAMES 25-36H
RED HAWK 351	MUREX PETROLEUM CORP	MRP 19-4
KEY 439	MUREX PETROLEUM CORP	SUSAN KAYE 6-7H
NABORS 419	NEWFIELD PROD CO	ROLFSRUD 1-32H
BRONCO 28	OASIS PETRO NO AMER	ERIE 44-19H
H & P 172	PANTHER ENERGY CO LLC	WIL E. COYOTE 9-2H
PATTERSON 490	PEAK NO DAK LLC	FREDERICKS 5-11H
ENSIGN 93	PETRO HUNT LLC	PHELPS MINERAL TRUST 7B-2-1H
PATTERSON 462	PRIMA EXPLORATION INC	PARADOX 34-31H
RED HAWK 354	SAGEBRUSH RESOURCES LLC	LODOEN 1
NABR WELL 164	SAGEBRUSH RESOURCES LLC	RICE 1
NABORS 152	SAMSON RESOURCES CO	RINDEL 17-162-95H
PATTERSON 167	SINCLAIR OIL & GAS CO	NELSON 1-25H
RED HAWK 558	SLAWSON EXPLORATION	GOLDEN EYE 1-2H
PIONEER 44	SLAWSON EXPLORATION	VOYAGER #1-28H
NABORS 592	ST MARY LAND & EXPLORATION CO	DOUTS 4-7H
PARAMOUNT 2	SUMMIT RESOURCES INC	ROOSEVELT FEDERAL 3-4H
PARAMOUNT 1	SUMMIT RESOURCES INC	GAP FEDERAL 3-8H
PATTERSON 491	SUNDANCE ENERGY INC	CHASE 21-30H
NABORS 182	TRACKER RES DEVMNT	OLSON 20-1H
NABORS 267	TRACKER RES DEVMNT	DRESSLER #13-1H
PRECISION 511	TRACKER RES DEVMNT	QUILLIAM 14-1H
NABORS 354	WHITING OIL AND GAS CORP	LACEY 11-10H
GREY WOLF 520	WHITING OIL AND GAS CORP	ROGGENBUCK 11-25H
NABORS 527	WHITING OIL AND GAS CORP	RICHARDSON FEDERAL 11-9H
KEY 257	WHITING OIL AND GAS CORP	PENNINGTON 11-3H
NABORS 686	WHITING OIL AND GAS CORP	KINNOIN 11-14H
H & P 180	WINDSOR ENERGY GROUP LLC	WHITMORE 1-7H
ENSIGN 46	XTO ENERGY INC	SAKAKAWEA FEDERAL 13X-35R
ENSIGN 43	ZENERGY INC	ZIMMERMAN #1 SWD
Total Rigs: 83

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