Dec
21
Posted by bakkenexpert
In the past week or so, we had the following news regarding the bakken region
- American Oil & Gas Inc. (NYSE Amex: AEZ) announced that drilling commenced on the Tong Trust 1-20H well, in Williams County, North Dakota. The Tong Trust well is spaced on 1,280 acres and is designed for an approximate 9,000′ horizontal lateral to be drilled in the Bakken formation. Drilling operations are estimated to take approximately 30 to 45 days and completion, including fracture stimulation, is expected to follow within two to four weeks of drilling rig release, depending on weather. AEZ is currently in the $3.80 range and good results could propel the stock to $5 in the next 2 months.
- Hess said it has budgeted $2.4 billion for production, $850 million for exploration and $600 million for developments. Nearly 45% of its 2010 capital budget will spent in the U.S., including in Bakken Shale development in North Dakota. It is significant that a company of Hess stature is putting such a large portion of its exploration budget in one area. This bodes well for further M&A in the area.
- Brigham Exploration Company (NASDAQ: BEXP) announced that its operated Williston 25-36 #1H produced approximately 3,394 barrels of oil equivalent per day (2,769 Bopd and 3.75 MMcf/d) from the Bakken formation during an early 24 hour flow back period. Brigham’s nine Bakken and Three Forks wells have averaged an early peak production rate of approximately 2,066 barrels of oil equivalent per day.
- Exxon Mobil Corporation (NYSE: XOM) announced an all-stock transaction valued at $41 billion to acquire XTO Energy Inc . The agreement, which is subject to XTO stockholder approval and regulatory clearance, will enhance ExxonMobil’s position in the development of unconventional natural gas and oil resources. Digging a bit deeper, the move will also give XOM exposure to XTO’s array of assets in the bakken region.
It looks like the land grab is heating up for the larger players to start laying claim to their piece of the bakken pie. Expect further M&A from the larger players to get in on the action.
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Dec
15
Posted by bakkenexpert
The active drilling rigs seems to have increased since the Nov report. We see an almost 10% jump in active rigs with 74 total. EOG leads the pack with 7 and Continental Resources and Whiting are close behind with 6. It seems exploration is on the mend and long term oil forecasts have oil above $65 for the forseeable future.
| Rig |
Operator |
Well Name and Number |
Current Location |
| CYCLONE 25 |
ANSCHUTZ EXPL CORP |
KADRMAS 11-27H |
NWNW 27-141N-95W |
| BRONCO 16 |
ANSCHUTZ EXPL CORP |
NEAL 1-33-28H-144-95 |
LOT2 4-143N-95W |
| H & P 255 |
ANSCHUTZ EXPL CORP |
KARY 1-24-13H-144-97 |
SWSE 24-144N-97W |
| ENSIGN 123 |
BAYTEX ENERGY USA LTD |
FURHMAN 36-162-99H |
NWNW 36-162N-99W |
| ENSIGN 67 |
BAYTEX ENERGY USA LTD |
SPARKS 8-162-98-2H |
NWNW 8-162N-98W |
| NABORS 52 |
BRIGHAM OIL & GAS LP |
LIFFRIG 29-20 1-H |
SWSE 29-156N-93W |
| NABORS 49 |
BRIGHAM OIL & GAS LP |
OWAN-NEHRING 27-34 1-H |
NENW 27-154N-103W |
| NABORS 266 |
BRIGHAM OIL & GAS LP |
JACKSON 35-34 1-H |
SESE 35-154N-102W |
| NABORS 350 |
BRIGHAM OIL & GAS LP |
KALIL 25-36 1561-H |
NWNE 25-156N-103W |
| PIONEER 44 |
BTA OIL PRODUCERS LLC |
NORTH COUNTRY, 9210 JV-P 31-8 |
NWNE 8-142N-102W |
| PRECISION 602 |
BURLINGTON RES O&G CO |
CHSU 12A-9NHR 05 |
SWNW 9-130N-105W |
| NABORS 59 |
BURLINGTON RES O&G CO |
ARCHES 24-35H |
SESW 35-153N-96W |
| PRECISION 825 |
BURLINGTON RES O&G CO |
BULLRUSH 24-10H |
SESW 10-151N-97W |
| NABORS 165 |
CIRQUE RESOURCES LC |
TRUE BLONDE 16-15H |
SWSE 16-160N-91W |
| CYCLONE 9 |
CONTINENTAL RESOURCES |
LOWE 42-9SH |
SENE 9-130N-106W |
| TRINIDAD 36 |
CONTINENTAL RESOURCES |
MILTON 1-23H |
SESW 23-160N-96W |
| CYCLONE 20 |
CONTINENTAL RESOURCES |
FORTIER 1-17H |
NWNE 17-160N-96W |
| CYCLONE 22 |
CONTINENTAL RESOURCES |
HAWKINSON 1-22H |
NENW 22-147N-96W |
| CYCLONE 28 |
CONTINENTAL RESOURCES |
CLOVER 1-3H |
LOT 3 3-145N-95W |
| PATTERSON 180 |
CONTINENTAL RESOURCES |
KUMMER 1-31H |
SESW 31-150N-95W |
| PATTERSON 305 |
ENCORE OPERATING LP |
BECKERT 24-7H |
SESW 7-145N-94W |
| PRECISION 289 |
ENCORE OPERATING LP |
PORCUPINE RIDGE 14-35H |
SWSW 35-148N-96W |
| BRONCO 28 |
EOG RESOURCES INC |
WESTGARD 1-28H |
SWSE 28-153N-89W |
| NABORS 527 |
EOG RESOURCES INC |
FERTILE 30-28H |
SWSE 28-151N-90W |
| DHS 12 |
EOG RESOURCES INC |
ROSS 21-04H |
LOT1 4-156N-92W |
| NABORS 161 |
EOG RESOURCES INC |
WAYZETTA 101-21H |
SWSW 21-153N-90W |
| NABORS 148 |
EOG RESOURCES INC |
VAN HOOK 11-02H |
SESE 2-152N-91W |
| TRUE 28 |
EOG RESOURCES INC |
CLEARWATER 17-01H |
SESW 1-157N-90W |
| MAJOR 42 |
EOG RESOURCES INC |
SIDONIA 7-25H |
NWNW 25-158N-90W |
| NABORS 108 |
FIDELITY EXPL & PROD CO |
FLADELAND 12-15H-22 |
SWNW 15-154N-92W |
| NABORS 460 |
HESS CORPORATION |
BB-FEDERAL A-151-95- 0910H-1 |
SWNW 9-151N-95W |
| H & P 179 |
HESS CORPORATION |
EN-DAVIS-156-94- 0805H-1 |
NWNE 17-156N-94W |
| H & P 241 |
HESS CORPORATION |
EN-DOBROVOLNY-155-93- 2128H-1 |
NWNE 21-155N-93W |
| BRONCO 20 |
HUNT OIL COMPANY |
LEE 8-5H 1 |
SWSW 8-154N-89W |
| UNIT 117 |
KODIAK OIL & GAS (USA) INC |
MOCCASIN CREEK 16-3H |
SESE 3-147N-93W |
| H & P 259 |
MARATHON OIL CO |
DARVEY KLATT 44-22H |
SESE 22-146N-95W |
| H & P 257 |
MARATHON OIL CO |
ROHDE USA 14-20H |
SWSW 20-146N-92W |
| H & P 258 |
MARATHON OIL CO |
HUNTS ALONG USA 12-1H |
LOT1 2-151N-94W |
| H & P 256 |
MARATHON OIL CO |
WOLDING 14-24H |
SWSW 24-151N-93W |
| PRECISION 645 |
MUREX PETROLEUM CORP |
JOY 26-35H |
NWNW 26-155N-91W |
| NABORS 272 |
NEWFIELD PROD CO |
ARKADIOS 1-18H |
SWSE 18-148N-97W |
| NABORS 419 |
NEWFIELD PROD CO |
MANTA RAY 1-12H |
SESW 12-150N-100W |
| WHITE MT. 750 |
NEWFIELD PROD CO |
PITTSBURGH 1-3H |
NWNW 10-153N-96W |
| NABORS 688 |
OASIS PETRO NO AMER |
EDWARDS 5992 44-10H |
SESE 10-159N-92W |
| NABORS 177 |
OASIS PETRO NO AMER |
ANGELL 5200 31-28H |
NWSW 28-152N-100W |
| NABORS 149 |
OASIS PETRO NO AMER |
VAN BERKOM 5793 11-14H |
NWNW 14-157N-93W |
| ENSIGN 46 |
PETRO HUNT LLC |
MM WOLD 160-94-31B-6-6H |
NENW 31-160N-94W |
| ENSIGN 93 |
PETRO HUNT LLC |
FORT BERTHOLD 148-94-17D-08-1H |
SESE 17-148N-94W |
| UNIT 329 |
QUESTAR E & P CO |
FED 1-34-35H-152-92 |
NWNW 34-152N-92W |
| KEY NRG 370 |
SAGEBRUSH RESOURCES LLC |
GLESSING 7-16 |
SESE 7-161N-82W |
| ENSIGN 71 |
SAGEBRUSH RESOURCES LLC |
KALLBERG 1 H |
LOT 1 18-159N-90W |
| PIONEER 57 |
SHD OIL & GAS, LLC |
SIMBA 24-30H |
SESW 30-150N-90W |
| PRECISION 512 |
SIMRAY GP LLC |
J.M. HALL 1-19H |
LOT 1 19-148N-93W |
| PATTERSON 167 |
SINCLAIR OIL & GAS CO |
HIGHLAND 1-9H |
NENW 9-153N-93W |
| MAJOR 26 |
SLAWSON EXPLORATION |
JUGHEAD 1-26H |
NENW 35-152N-93W |
| ENSIGN 125 |
SLAWSON EXPLORATION |
COUGAR FEDERAL 1-30H |
NENW 30-152N-92W |
| NABORS 687 |
SLAWSON EXPLORATION |
ZEPHYR 1-36H |
NWNE 1-151N-93W |
| RED HAWK 558 |
SLAWSON EXPLORATION |
RIPPER 1-22H |
SWSW 22-152N-92W |
| NABORS 152 |
ST MARY LAND & EXPLORATION CO |
TORGESON 14-19H |
SESW 19-163N-99W |
| NABORS 742 |
ST MARY LAND & EXPLORATION CO |
MONDAK FEDERAL 11X-14 |
NWNW 14-148N-105W |
| PRECISION 517 |
STEPHENS ENERGY COMPANY LLC |
VAN HOOK – R/S 16-4H |
SESE 4-150N-92W |
| NABORS 182 |
TRACKER RES DEVMNT |
LARSEN 13-1H |
NENW 13-144N-95W |
| NABORS 44 |
TRACKER RES DEVMNT |
DANIELLE 12-1H |
SESE 12-145N-97W |
| PRECISION 51 |
WHITING OIL AND GAS CORP |
SORENSON 11-3H |
LOT 4 3-152N-91W |
| PIONEER 67 |
WHITING OIL AND GAS CORP |
TTT RANCH 43-4H |
NESE 4-154N-91W |
| PIONEER 56 |
WHITING OIL AND GAS CORP |
NESS 44-21H |
SESE 21-154N-91W |
| NABORS 686 |
WHITING OIL AND GAS CORP |
ANDERSON 11-7TFH |
LOT 1 7-154N-92W |
| PIONEER 66 |
WHITING OIL AND GAS CORP |
FLADELAND 11-10H |
NWNW 10-154N-92W |
| PRECISION 106 |
WHITING OIL AND GAS CORP |
FLADELAND 44-9H |
SESE 9-154N-92W |
| NABORS 265 |
XTO ENERGY INC |
LOIS FEDERAL 24X-6 |
SESW 6-148N-96W |
| NABORS 417 |
XTO ENERGY INC |
EDWARD 21X-28 |
NENW 28-149N-104W |
| H & P 180 |
XTO ENERGY INC |
BJARNE 34X-13 |
SWSE 13-154N-95W |
| NABORS 681 |
XTO ENERGY INC |
BARSTAD 32X-13 |
SWNE 13-154N-96W |
| PRECISION 96 |
ZENERGY OPERATING CO LLC |
DAKOTA-3 TAT 15-1H |
SWSE 1-149N-93W |
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