Bakken Stock Story Roundup

Hoping for a happy new year

bakkenexpert — Sun, 04 Jan 2009 00:08:41 +0000

The last trading day of the year led to modest gains but did not erase the painful 2008 that most bakken investors experienced. The vast majority of our bakken plays were down 70-80% on the year as oil plummeted from $147 per barrel down to $40. Pressure will continue to be exerted on the sector [...]

Trying to hang on

bakkenexpert — Thu, 18 Dec 2008 15:18:03 +0000

Our bakken plays have held on fairly well considering oil is still drifting towards $30 per barrel. This is partly because there is hope that the OPEC cuts of 2 million barrels per day will cause a mid term reversal in the price of crude over the next few months. Our earlier call [...]

Australian based company with exposure to bakken

Thu, 18 Dec 2008 15:08:17 +0000

I as have many been following the Bakken explosion, albeit from Australia. I am a shareholder of a small cap company called Sundance Energy who hold 70 000 acres in the US with 18000 acres in the Williston Basin. It is hugely undervalued and is a cheap entry to a stock with exposure [...]

A good time to step in?

bakkenexpert — Thu, 04 Dec 2008 19:26:58 +0000

So oil has continued its descent to the mid 40’s but oil stocks have been fairly rangebound for the last 2 months with XLE bouncing between 40 and 50. Bakken stocks have been particularly hit hard when compared to other oil stocks because of a number of investor concerns including recovery costs, drilling costs and [...]

Latest Active Drilling Rig Report

bakkenexpert — Sun, 16 Nov 2008 13:07:42 +0000

The number of active rigs has increased by 11 since our last report at the end of August. The growth does not appear to be isolated to a particular driller but some rigs from new smaller players in the region. Continental still holds the lead with 14 total rigs in the region and it doesn’t [...]

Groundhog day returns

bakkenexpert — Fri, 14 Nov 2008 16:43:34 +0000

After watching the dow rally to the 9600 level and then go below 8000 yesterday, we saw a furious rally of 500+ points. Oil stocks including our bakken plays rallied as well, even though oil is well under $60 per barrel. The rally however, was on no real positive news and therefore didn’t have follow [...]

Bottom is forming

bakkenexpert — Sat, 08 Nov 2008 15:03:26 +0000

The market has taken a somewhat predictable yet still very volatile pattern over the last few weeks. We see resistance when the dow approachs the 9200-9500 range and we have seen three retracements to the 8500 range. Oil has retraced into the high 50’s twice and then bounced back into the 60’s. Oil investors are [...]

Strong Follow Through

bakken — Thu, 30 Oct 2008 17:41:27 +0000

Our recent cycle of successive groundhog days have temporarily ceased with solid upticks over the last 3 trading days. Oil saw a temporary bottom around $59 a few days ago and has bounced strongly off that mark into the mid sixties. It has also helped that Exxon-Mobil reported some jaw dropping profits of $14 billion [...]

Groundhog day

bakkenexpert — Thu, 23 Oct 2008 18:50:30 +0000

Every day since the financial crisis essentially feels like groundhog day. I log into my account in the morning and my oil stocks are a little up or flat. I log in later in the day and they are down dramatically. The price action here is nauseating and i’m figuratively and literally sick of it. [...]

Back in business

bakkenexpert — Fri, 17 Oct 2008 17:39:30 +0000

I have not written any articles in the past 3 weeks or so because there was simply nothing positive to write about and I was frankly sick of the gloom and doom. I believe now with oil imploding to $70 a barrel we are really at a point where the downside is another $10-15 at [...]