Active Drilling Rigs – January 2011

Posted by bakken

The Active Drilling Rigs are up slightly from December at 162 total rigs. The numbers are mostly unchanged for the major Bakken players but Hess is worth a look here with 15 rigs in play. Their recent acreage land acquisitions as well as $5.6 billion in capital spending in 2011 will could attract attention from institutional investors looking for a way to gain exposure in the Bakken without taking a risk on a pure play.

Operator	Well Name and Number	Current Location
ABRAXAS PETROLM CORP.	STENEHJEM 27-34-1H	NENE 27-150N-97W
AMERICAN OIL & GAS INC	BARMAN 15-7H	SWSE 7-157N-96W
AMERICAN OIL & GAS INC	FLATEN 15-8H	SWSE 8-157N-97W
AMERICAN OIL & GAS INC	SOLBERG 15-8H	SWSE 8-156N-97W
AMERICAN OIL & GAS INC	HAUG 14-19H	SESW 19-156N-98W
ANSCHUTZ EXPL CORP	WILLIAM KUBISCHTA 1-14-11H-143-96	NWNE 23-143N-96W
ANSCHUTZ EXPL CORP	SHUCK 1-33-28H-144-97	SWSE 33-144N-97W
ANSCHUTZ EXPL CORP	FISHER STATE 1-21-16H-142-97	SESW 21-142N-97W
ANSCHUTZ EXPL CORP	NELSON 1-12-1H-143-95	SWSE 12-143N-95W
ANSCHUTZ EXPL CORP	ALINA TORMASCHY 1-32-29H-143-96	SWSE 32-143N-96W
ARMSTRONG OP INC	ZASTOUPIL 1-17	SESW 17-139N-96W
ARSENAL ENERGY USA INC.	BRENLEE 100-19H	SWSE 19-155N-90W
BAYTEX ENERGY USA LTD	DAHL 13-24-162-100H	NENW 13-162N-100W
BAYTEX ENERGY USA LTD	OBRIEN SWD 1-7	SWSW 7-161N-97W
BAYTEX ENERGY USA LTD	GRUNDSTAD 10-162-99H	NWNW 10-162N-99W
BRIGHAM OIL & GAS LP	HOVDE 33-4 1-H	NWNE 33-151N-100W
BRIGHAM OIL & GAS LP	AFSETH 34-3 1-H	NWNW 34-158N-91W
BRIGHAM OIL & GAS LP	DAVE ARNSON 8-5 1-H	SWSE 8-154N-101W
BRIGHAM OIL & GAS LP	A. TUFTO 18-19 #1-H	SESW 7-155N-100W
BRIGHAM OIL & GAS LP	IRWIN 15-22 #1-H	NWNE 15-153N-103W
BRIGHAM OIL & GAS LP	HOSPITAL 31-36 #1-H	NESE 31-156N-92W
BTA OIL PRODUCERS LLC	20711 KREIDLE 3229 1-H	LOT 3 5-154N-99W
BURLINGTON RES O&G CO	GLACIER 31-4TFH	NWNE 4-151N-96W
BURLINGTON RES O&G CO	DEVILS BACKBONE 21-14H	NENW 14-152N-97W
BURLINGTON RES O&G CO	STAFFORD 13-34H	NWSW 34-151N-95W
BURLINGTON RES O&G CO	SUNLINE 11-1TF-2SH	LOT 4 1-151N-96W
BURLINGTON RES O&G CO	CRATER LAKE 21-14H	NENW 14-152N-95W
CONTINENTAL RESOURCES	DELLA 31-17SH	NWNE 17-130N-104W
CONTINENTAL RESOURCES	FASCHING 1-22H	NENE 22-155N-104W
CONTINENTAL RESOURCES	IVAN 1-29H	NWNE 29-151N-97W
CONTINENTAL RESOURCES	WINSTON 1-12H	SESW 12-153N-99W
CONTINENTAL RESOURCES	AKRON 1-27H	NWNE 27-152N-99W
CONTINENTAL RESOURCES	HOLTE 1-32H	NENW 32-160N-95W
CONTINENTAL RESOURCES	NORDENG 1-8H	SESW 8-151N-97W
CONTINENTAL RESOURCES	HOGAN 1-16H	NENW 16-148N-98W
CONTINENTAL RESOURCES	TEMPE 1-29H	NENW 29-161N-96W
CONTINENTAL RESOURCES	BARNEY 1-29H	NWNE 29-155N-98W
CONTINENTAL RESOURCES	CARSON PEAK 2-35H	SESW 26-147N-96W
CONTINENTAL RESOURCES	LAWRENCE 2-13H	SWSW 12-159N-95W
CONTINENTAL RESOURCES	FLOR 24-19NH	SESW 19-133N-106W
CONTINENTAL RESOURCES	CHICAGO 1-26H	NENW 26-152N-99W
CONTINENTAL RESOURCES	BUELINGO 1-20H	SWSE 20-153N-94W
CONTINENTAL RESOURCES	DOLEZAL 2-5H	NWNW 5-145N-95W
CONTINENTAL RESOURCES	BRATLIEN 2-35H	SWSW 35-161N-95W
CONTINENTAL RESOURCES	COLTER 2-14H	SESE 14-147N-96W
CONTINENTAL RESOURCES	MYRTLE 4-7H	SWSW 7-159N-95W
CONTINENTAL RESOURCES	MCCOY 3-18H	SWSW 7-159N-95W
CONTINENTAL RESOURCES	NIELSEN 1-12H	SWSE 12-160N-97W
CORE 54 OIL & GAS	LONGSHOT 10-23 1	NWSE 23-139N-97W
CORNERSTONE NAT RES LLC	OLNEY 2-25H	NWNW 25-163N-91W
ENCORE OPERATING LP	KOESER 41-15 SWH	NENE 15-150N-97W
ENCORE OPERATING LP	HOFFMANN 149-98-1-12-1H	LOT 3 1-149N-98W
ENCORE OPERATING LP	SATTER 44-34SWH	SESE 34-151N-98W
ENCORE OPERATING LP	LINDVIG 14-10NEH	SWSW 10-152N-101W
ENCORE OPERATING LP	THOMPSON 31-11SWH	NWNE 11-153N-96W
EOG RESOURCES INC	LIBERTY LR 14-23H	NENW 23-151N-91W
EOG RESOURCES INC	SIDONIA 38-3019H	LOT4 30-158N-90W
EOG RESOURCES INC	LOSTWOOD 22-1423H	NENW 14-158N-91W
EOG RESOURCES INC	ROUND PRAIRIE 5-0904H	SWSE 9-154N-103W
EOG RESOURCES INC	LIBERTY LR 17-11H	SESE 11-151N-91W
EOG RESOURCES INC	ROSS 29-1716H	NWNE 17-156N-92W
EOG RESOURCES INC	COTTONWOOD 9-28H	SWSE 28-157N-92W
EOG RESOURCES INC	MONT 02-21H	NWNW 21-155N-102W
EOG RESOURCES INC	MANDAREE 9-04H	SESE 4-149N-94W
EOG RESOURCES INC	CLAYTON 01-35H	SWSE 35-161N-91W
EOG RESOURCES INC	CLEARWATER 101-0718H	LOT1 7-157N-90W
EOG RESOURCES INC	ROSS 31-0806H	SESW 8-156N-92W
FIDELITY EXPL & PROD CO	WOCK 14-11H	SWSW 11-140N-97W
G3 OPERATING LLC	ANDERSON 1-24-13H	SESE 24-157N-102W
HELIS OIL & GAS CO. LLC	HENDERSON 16-34/27H	SESE 34-150N-95W
HESS CORPORATION	EN-STATE D-154-93- 2635H-1	NWNE 26-154N-93W
HESS CORPORATION	EN-MEIERS-154-93- 24H-1	SESE 24-154N-93W
HESS CORPORATION	EN-WILL TRUST B-157-94- 2635H-2	NENW 26-157N-94W
HESS CORPORATION	EN-TRINITY-154-93- 2833H-1	SWSE 21-154N-93W
HESS CORPORATION	EN-REITCH-157-94- 3229H-1	SESW 32-157N-94W
HESS CORPORATION	RS-SHUHART-156-90- 2726H-3	NWSW 27-156N-90W
HESS CORPORATION	EN-FISHER-157-94- 2116H-3	SWSE 21-157N-94W
HESS CORPORATION	RS-FLICKERTAIL-156-91- 1720H-1	NWNE 17-156N-91W
HESS CORPORATION	EN-WEFALD-156-94- 1324H-1	NENW 13-156N-94W
HESS CORPORATION	HA-SANFORD-152-96- 1819H-1	NENW 18-152N-96W
HESS CORPORATION	EN-WEYRAUCH-154-93- 1918H-1	SWSE 19-154N-93W
HUNT OIL COMPANY	MCALMOND 1-32-29H 1	SWSW 32-155N-89W
HUNT OIL COMPANY	SHELL 1-35-26H 1	SESW 35-153N-89W
HUNT OIL COMPANY	HALLIDAY 1-25-36H 1	NWNW 25-146N-93W
KODIAK OIL & GAS (USA) INC	SKUNK CREEK 2-24-25-15H	NWNE 24-149N-93W
KODIAK OIL & GAS (USA) INC	KOALA 3-2-11-14H	LOT 3 2-151N-100W
LEGACY OIL & GAS ND	LEGACY ETAL BLISS 13-10H 1-H	SWSW 10-162N-76W
MARATHON OIL CO	JACOB MADISON 11-27H	SWSW 22-151N-93W
MARATHON OIL CO	FOREST USA 14-2H	SWSW 2-147N-98W
MARATHON OIL CO	DEBBIE BAKLENKO USA 12-26H	SWNW 26-152N-94W
MARATHON OIL CO	WARDNER 24-35H	SESW 35-146N-95W
MARATHON OIL CO	LARRY REPP 11-16H	NWNW 16-145N-93W
MARATHON OIL CO	JONES USA 14-14H	SWSW 14-151N-94W
MUREX PETROLEUM CORP	KAYLEE ANN 32-29H	SWSW 32-157N-95W
MUREX PETROLEUM CORP	VIRGINIA LEIGH 33-28H	SESE 33-157N-95W
NEWFIELD PROD CO	WILSON 150-99-29-32-1H	SESW 20-150N-99W
NEWFIELD PROD CO	CHRISTENSEN 159-102-17-20-1H	NENW 17-159N-102W
NEWFIELD PROD CO	HELSINGBORG 1-22H	SESE 22-153N-96W
NEWFIELD PROD CO	JOHNSON 150-99-34-27-1H	SWSW 34-150N-99W
NORTH PLAINS ENERGY LLC	WOLD 16-7H	SESE 7-153N-97W
NORTH PLAINS ENERGY LLC	D. CVANCARA 9-11H	NESE 11-159N-97W
NORTH PLAINS ENERGY LLC	HELLANDSAAS 16-8H	SESE 8-153N-97W
OASIS PETRO NO AMER	LOGAN 5601 42-35H	SESW 35-156N-101W
OASIS PETRO NO AMER	MOORE 5304 13-1H	NWNE 1-153N-104W
OASIS PETRO NO AMER	PARADISE 5892 11-30H	NWNW 30-158N-92W
OASIS PETRO NO AMER	MONTAGUE 5501 13-3H	NWNE 3-155N-101W
OASIS PETRO NO AMER	HENDRICKS 5602 42-36H	SESW 36-156N-102W
OIL FOR AMERICA	DOHRMANN 14-1	NENE 14-140N-94W
OXY USA INC	SORLIE 160-90-18-P-1H	SESE 18-160N-90W
OXY USA INC	KANNEGIETER 160-90-17 P-1H	SESE 17-160N-90W
PEAK NO DAK LLC	EAGLES NEST 34-44H	SESE 34-148N-94W
PEAK NO DAK LLC	LOOK OUT RIDGE 4-31H	NWNE 4-148N-93W
PETRO HUNT LLC	FORT BERTHOLD 152-94-13B-24-1H	NWNW 13-152N-94W
PETRO HUNT LLC	ANDERSON 152-96-35C-26-2H	SWSW 35-152N-96W
PETRO HUNT LLC	BRENNA 152-96-14B-23-3H	NWNW 14-152N-96W
PETRO HUNT LLC	PRODUCER`S CORPORATION 159-94-17C-8-2H	SESW 17-159N-94W
PETRO HUNT LLC	THOMPSON 8D-4-4H	NENE 17-153N-95W
PETRO HUNT LLC	MONSON TRUST 157-101-26A-35-1H	NENE 26-157N-101W
PRIMA EXPLORATION INC	GUNNISON 41-23H	NWNE 23-161N-91W
QEP ENERGY CO	MHA 3-05-08H-147-92	LOT5 5-147N-92W
QEP ENERGY CO	MHA 2-29-30-150-90	SENE 29-150N-90W
SAMSON RESOURCES CO	DENALI 13-24-163-98H	NWNE 13-163N-98W
SAMSON RESOURCES CO	BARRACUDA 27-34-163-98H	NWNE 27-163N-98W
SAMSON RESOURCES CO	BONNEVILLE 36-25-163-100H	SESW 36-163N-100W
SINCLAIR OIL & GAS CO	HOVDEN FEDERAL 1-20H	SWSW 20-146N-97W
SLAWSON EXPLORATION	BONANZA 1-21-16H	SWSE 21-152N-102W
SLAWSON EXPLORATION	MUSTANG 1-22H	SWSE 22-151N-92W
SLAWSON EXPLORATION	TURBO 1-21-16H	SESW 21-143N-95W
SLAWSON EXPLORATION	GENESIS 2-13H	NWNE 24-152N-92W
SLAWSON EXPLORATION	SUBMARINER FEDERAL 1-23-24H	NWNW 23-151N-92W
SLAWSON EXPLORATION	BANDIT 2-29H	NWNW 29-152N-91W
SM ENERGY CO	LAMPERT 13-24H	SWSW 24-163N-100W
SM ENERGY CO	JAYNES 16-12H	SESE 12-151N-100W
TRACKER RES DEVMNT	TATTU 19-1H	SWSE 19-151N-102W
TRACKER RES DEVMNT	KOSTELNAK 28-1H	NWNE 28-145N-97W
TRACKER RES DEVMNT	WAHLSTROM 18-1H	NWNE 18-149N-101W
TRACKER RES DEVMNT	JCB 17-1H	NWNW 17-154N-98W
WHITING OIL AND GAS CORP	HOOVER 14-1XH	SWSW 1-154N-92W
WHITING OIL AND GAS CORP	HECKER 21-18TFH	NENW 18-140N-99W
WHITING OIL AND GAS CORP	OBRIGEWITCH 21-17TFH	NENW 17-140N-99W
WHITING OIL AND GAS CORP	JOHNSON 34-8H	SWSE 8-149N-99W
WHITING OIL AND GAS CORP	BREHM 42-35H	SENE 35-153N-92W
WHITING OIL AND GAS CORP	DIETZ 21-17TFH	NENW 17-139N-99W
WHITING OIL AND GAS CORP	DRY CREEK 11-13TFH	NWNW 13-143N-103W
WHITING OIL AND GAS CORP	HOLLINGER 21-14TFH	NENW 14-154N-92W
WHITING OIL AND GAS CORP	STATE 12-32H	SWNW 32-153N-92W
WHITING OIL AND GAS CORP	WARDEN 43-9TFH	NESE 9-154N-92W
WHITING OIL AND GAS CORP	HOLLINGER 11-14TFH	NWNW 14-154N-92W
WHITING OIL AND GAS CORP	ROBERT PATTEN 44-3TFH	SESE 3-153N-91W
WHITING OIL AND GAS CORP	NESS 42-31WH	SENE 31-153N-92W
WHITING OIL AND GAS CORP	GUINN TRUST 11-13TFH	NWNW 13-154N-92W
XTO ENERGY INC	ERNEST FEDERAL 31X-19	NWNE 19-148N-97W
XTO ENERGY INC	FBIR BAKER 34X-25	SWSE 25-149N-92W
XTO ENERGY INC	ELAINE FEDERAL 12X-19	LOT3 19-148N-96W
XTO ENERGY INC	LINDA 41X-22	NENE 22-155N-95W
XTO ENERGY INC	LONNIE 31X-3	LOT2 3-154N-95W
XTO ENERGY INC	NORMARK 24X-31	SESW 31-158N-95W
XTO ENERGY INC	DWYER FEDERAL 44X-1	SESE 1-147N-104W
ZAVANNA LLC	COUGAR 1-35H	NWNW 35-155N-100W
ZENERGY INC	MARTELL 36-25H	SWSE 36-151N-103W
ZENERGY INC	NORDENG 24-13H	SWSE 24-152N-98W
ZENERGY OPERATING CO LLC	DAKOTA-3 STATE OF ND 10-3H	SESW 10-150N-92W
ZENERGY OPERATING CO LLC	DAKOTA-3 WICKER 34-27H	SESW 34-149N-93W
ZENERGY OPERATING CO LLC	DAKOTA-3 HELENA RUTH GRANT 33-34H	SWNW 33-150N-93W

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Happy New Year! 4 Bakken predictions for 2011

Posted by bakken

It has been a banner year for companies operating in the Bakken region.   Brigham Exploration (BEXP: 0.00 N/A) ,  Northern Gas & Oil (NOG: 13.49 -0.59%)  saw gains over 100% and American Oil & Gas was acquired by Hess corporation (HES: 67.48 -0.82%).   Bigger players such as Continental Resources (CLR: 83.46 -0.62%) and Whiting Oil (WLL: 45.59 -0.44%)] also rebounded in a big way and are within striking distance of all time highs in 2011.

Symbol	Trade	Market Cap	P/E	PEG Ratio	Pct from Yr Low
NOG	27.21	1.37B	132.09	3.16	159.89%
HES	76.54	25.14B	10.33	0.71	57.17%
CLR	58.85	10.01B	37.99	1.38	62.26%
WLL	117.19	6.86B	30.64	1.68	87.03%
BEXP	27.24	3.18B	92.34	1.29	116.53%
EOG	91.41	23.22B	45.80	5.93	7.01%
SM	58.93	3.72B	23.51	-28.62	91.95%
GEOI	22.21	438.05M	21.19	N/A	96.72%

So what will 2011 bring for the Bakken region?   Of course,  specific predictions are rarely accurate but in the spirit of the new year we will give it our best shot.   Underlying assumptions in our predictions are that oil prices will sustain over $90 per barrel over the majority of 2011 and that the overall domestic and global economies will continue a recovery albeit slow and sometimes painful.

PREDICTION #1 -  Brigham Exploration (BEXP: 0.00 N/A) gets acquired by a large O&G in the region such as EOG.

It is no secret that Brigham Exploration is one of the best executing pure plays in the Bakken Region.  Their expertise in multi-stage fracking is a boon for a larger player with untapped acreage.    They may look expensive on paper to some with a forward PE around 30,  but an acquisition would be focused around operational synergy with Brigham’s drilling prowess,  not necessarily looking at their current revenue numbers.

PREDICTION #2 -  PetroBakken goes up 50% in 2011 .

Although, most US based Bakken players did well in 2010,  PetroBakken (PBN on TSX),  just across the border did not fare as well.   Declining production and sub-par execution related to a number of factors such as bad weather caused many big investors to shun this stock for most of 2010.   PetroBakken has no shortage of opportunity with 210,000 net undeveloped acres with 1,000+ locations in the Bakken region “North of the Border”.      The company will put upwards of 20 rigs into action in 2011 and has a focus on Bilateral well drilling under their “Bakken 3.0″ strategy which should increase Bakken boepd significantly over the next 12 months.  More about their strategy can be found on their latest presentation posted in Dec 2010

PREDICTION #3 -  Continental Resources (CLR: 83.46 -0.62%)  tops $75 per share in 2011 .

Continental has banked a lot on their ECO-pad strategy in the latter half of 2010 and that strategy is already paying dividends.  Continental Resources has nearly doubled its production from the North Dakota Bakken during 2010, growing from an average of 8,384 (BOE) per day during the 4th quarter of 2009 to 15,000+ BOE per day in Q3 2010.   We expect production to top 21,000 BOE per day by the end of 2011.   With seemingly few factors that can stop a 30% sustained growth rate for CLR,  a move above $75 seems quite probable in 2011.

PREDICTION #4 -  Bakken drilling continues to surpass estimates and will yield record production in 2011

The growth train that is the Bakken was derailed slightly in 2008 amidst the economic crisis but came back with bang in 2010.   North Dakota is currently is pumping about 350,000 barrels of crude per day and was on pace to produce about 110 million barrels in 2010, up from about 80 million in 2009.   In 2011, we expect the following

• Record production in excess of 140 million BOE in 2011
• Well completion time averaging 23 days in 2011 (was over 60 days 2 years ago)
• USGS revision that outlines more than 11 billion barrels of recoverable oil in the Bakken region
• 1900 new wells in North Dakota (200% growth from 2010)

We’ll check back in a few months to see how our predictions have fared,  but based on the solid growth in 2010,  we are not worried about what we’ll find.    Have a great start to 2011!   Look for more insight in the coming days on new plays in the region

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