Mar
07
Posted by bakkenexpert
The news from the Bakken region seems to be accelerating due to the uptick in activity. Some pertinent tidbits are below:
- A joint venture between Resolute Energy Partners and GeoResources was announced, to develop acreage in the Bakken Shale Trend, North
Dakota, US. Resolute will hold a 45% interest in the joint venture, while GeoResources will hold another 45% interest and the remaining 10% will be held by a third industry partner.
- Resolute Energy Corporation announced 2009 year end figures. Total proved oil and gas reserves were 64.4 million barrels of oil equivalent, 31% more than in 2008. Net production was 2.7 million barrels of oil equivalent, 4% down on last year It plans to put aside $22 – $25 million for acquisition and operations in its new leasehold position in Williams County, North Dakota.
- The Bakken lease sale for February in North Dakota raised $47 million, which was the second highest figure on record. The two highest bids were for Mountrail County land and the Burke County leased the most acres at 11,977.
- Brigham Exploration’s16-9 #1H well in the Bakken region produced 2,264 BOEPD at its initial rate.
- PetroBakken now has 51 bilateral horizontal wells on production in Saskatchewan, which are proving to be 50% more efficient, production-wise, compared to conventionally drilled wells.
- TransCanada Corp. met with two governors and Montana and North Dakota oil producers to discuss a possible on ramp to the Keystone XL pipeline, which could happen by 2013.
March 4th
- One Exploration drilled 3 (0.9 net) horizontal wells in Q1 of 2010 at Tableland, Saskatchewan. They plan to drill another well there, also targeting the Sanish-Three Forks formation.
- Credo Petroleum Corporation continued to acquire acreage in North Dakota. Their first well was completed with an initial production rate of 1,474 barrels of oil per day equivalent. A second well should spud in about two months. They have 9 other wells in the area immediately surrounding these two.
March 3rd
- Enbridge, which has already spent $223 million upgrading its North Dakota pipeline system is consider spending nearly $300 million more to increase capacity.
March 1st
- Quicksilver Resources Q4 2009 net income was up 19% from the same period in 2008. They have over 130,000 acres in Montana and are planning to drill 2 horizontal wells to test the Bakken and other formations. The fact they will reach the Bakken at a depth of between 3,000 and 4,000 feet is of great interest as far as the economics of drilling there goes.
- American Oil & Gas Inc. is selling off other assets to focus on the development of their Goliath project area in the Bakken formation
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Mar
05
Posted by bakkenexpert
The latest update on the Bakken Fund is below. For the FAQ, scroll to the bottom of the page
Despite some pressure on oil today, The Bakken Fund continues to roll and outperform the Dow, Nasdaq and pretty much every standard index on the market. We resisted our urge to trade out of some plays last week during some down days, and that proved to be a wise decision. American Oil & Gas (AEZ: 5.64 -4.41%) has really taken off after some positive news earlier this week and is currently holding gains over 30%. Brigham Exploration (BEXP: 17.10 +1.24%) and GeoResources Inc (GEOI: 15.79 +1.35%) also continue to excel with 20% gains. We are a bit cautious in the short term and will look for signals to book gains and reenter at better entry points on some of our positions.
Bakken Fund NAV: $11.31 YTD Return: 13.1%
|
recent returns vs. major indexes |
|
|
|
|
|
Beating |
Today |
MTD |
QTD |
YTD |
| Bakken Fund |
|
-0.50% |
4.52% |
13.10% |
13.10% |
| S&P 500 |
yes |
0.37% |
1.31% |
0.69% |
0.69% |
| DOW |
yes |
0.46% |
0.69% |
-0.30% |
-0.30% |
| Nasdaq |
yes |
0.51% |
1.90% |
0.51% |
0.51% |
|
|
|
|
|
|
| Symbol |
Price |
Shares |
Value |
% of Fund |
Gains |
Today |
Return |
| AEZ |
$5.38 |
23,765 |
$127,855.70 |
11.31% |
$30,476.16 |
-2.00% |
29.98% |
| GEOI |
$14.06 |
8,698 |
$122,293.88 |
10.82% |
$21,103.34 |
2.24% |
20.86% |
| BEXP |
$16.62 |
6,710 |
$111,520.20 |
9.86% |
$20,166.79 |
-2.81% |
20.15% |
| WLL |
$75.74 |
1,390 |
$105,278.60 |
9.31% |
$18,002.01 |
-1.70% |
17.91% |
| SM |
$35.05 |
3,020 |
$105,851.00 |
9.36% |
$12,565.31 |
0.06% |
12.61% |
| KOG |
$2.56 |
15,985 |
$40,921.60 |
3.62% |
$4,166.92 |
0.39% |
11.34% |
| CLR |
$39.84 |
2,540 |
$101,193.60 |
8.95% |
$8,367.60 |
-1.07% |
8.33% |
| NOG |
$13.22 |
8,090 |
$106,949.80 |
9.46% |
$6,826.67 |
0.84% |
6.82% |
| MRO |
$29.58 |
3,395 |
$100,424.10 |
8.88% |
$5,535.46 |
0.37% |
5.51% |
| EOG |
$95.20 |
1,000 |
$95,200.00 |
8.42% |
$4,851.50 |
-0.65% |
4.87% |
|
|
|
|
|
|
|
|
________________________________________________
The Bakken Fund FAQ
Question: What is the ticker symbol for the Bakken Fund and how can I invest?
Answer: Unfortunately, The Bakken Fund is a “virtual” fund and you cannot currently invest. We’ll let you know if one of the investment houses picks it up. I do provide transparency in terms of trading in and out of the fund. We are using the tools at Marketocracy to track the fund and compare performance to indexes such as the Dow, Nasdaq and S&P 500.
________________________________________________
Question: Which companies are included in the Bakken Fund?
Answer: We concentrate on publicly traded companies that have significant exposure in the Bakken Region/Williston Basin.
________________________________________________
Question: What investment strategy do you use for the Bakken Fund?
Answer: We trade in and out of our constituent stocks as we see technical tops and bottoms forming. On average we don’t expect to trade out of a given stock more than 6 times in a calendar year
________________________________________________
Question: Why do you not include canadian companies in your fund?
Answer: We currently do not include canadian companies due to limitations with Marketocracy. We will add qualified companies as soon as it is possible to do so.
________________________________________________
Question: What kind of returns are you expecting with the Bakken Fund?
Answer: We believe the Bakken Fund will outperform other Oil & Gas funds due to the explosive growth in the Bakken region. Its a simple thesis, but more wells, a greater boepd and advances in drilling will ultimately lead to more production and revenue for companies operating in the Bakken region vs their non-Bakken counterparts. Our target for 2010 is 20-25% but it is impossible to predict whether we will meet this objective.
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