Investment insight on the bakken landscape

     Bakken Stocks

 

 

RSS Feed Add our RSS feed!

Enter your email address:

Get the latest bakken info!








Join My Community at MyBloglog!

Jan
03

Hoping for a happy new year

Posted by bakkenexpert

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 until oil can rebound to the $60-70 range.    In 2009, if oil stays at current levels, there will be smaller players that will file Chapter 11 because  they can’t raise the necessary capital and don’t have the cost structure to make money at $40 oil.    We ended the year with 80 active drilling rigs in the bakken region.   About 20-30% fewer than expected earlier in the year.     Some notable companies will deliver earnings in January and at that time we will get a clearer picture of how the precipticous drop in oil affected the bottom line.

bakken Edit
Symbol Last Trade Change Volume Avg Vol (3m)
NOG Dec 31 2.60 Up 0.22 Up 9.24% 356,624 270,654
WLL Dec 31 33.46 Up 1.41 Up 4.40% 741,065 1,475,580
SM Dec 31 20.31 Up 0.59 Up 2.99% 764,286 1,020,350
MDU Dec 31 21.58 Up 0.23 Up 1.08% 912,046 1,675,130
GEOI Dec 31 8.69 Up 0.11 Up 1.28% 53,428 104,125
BSIC.OB Dec 31 0.6001 Down 0.0299 Down 4.75% 19,200 38,635.9
WSEG.OB Dec 31 0.021 Up 0.002 Up 10.53% 453,230 142,440
CLR Dec 31 20.71 Up 0.09 Up 0.44% 960,317 1,865,200
BEXP Dec 31 3.20 Up 0.07 Up 2.24% 599,393 890,132
KDKN.OB Dec 31 0.60 Up 0.03 Up 5.26% 110,160 95,348.4
KOG Dec 31 0.31 Up 0.02 Up 5.08% 2,121,081 849,023
EOG Dec 31 66.58 Up 0.76 Up 1.15% 2,282,313 4,796,620

Related posts

Posted under Bakken Formation |
Comments (1)
Dec
18

Trying to hang on

Posted by bakkenexpert

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 on CLR looks pretty good with the stock up 33% (from $15 to $20) in the last few days.    We will consider getting into WLL if it goes below 30 as well.

bakken Edit
Symbol Last Trade Change Volume Avg Vol (3m)
NOG 10:00AM ET 3.17 Down 0.17 Down 5.09% 34,216 284,335
WLL 10:00AM ET 32.76 Down 2.37 Down 6.75% 145,488 1,501,340
SM 10:00AM ET 19.93 Down 0.82 Down 3.95% 36,350 1,065,490
MDU 10:00AM ET 21.00 Down 0.36 Down 1.69% 215,711 1,718,310
GEOI 10:00AM ET 7.4596 Down 0.1304 Down 1.72% 14,531 113,672
BSIC.OB 9:53AM ET 0.646 Down 0.054 Down 7.71% 2,500 38,635.9
WSEG.OB 9:44AM ET 0.03 Down 0.01 Down 14.29% 65,850 141,765
CLR 10:00AM ET 19.34 Down 1.27 Down 6.16% 128,363 2,021,960
BEXP 10:00AM ET 3.82 Down 0.15 Down 3.78% 61,656 956,982
KDKN.OB 9:59AM ET 0.60 Down 0.05 Down 7.69% 4,400 95,348.4
KOG 10:00AM ET 0.3701 Up 0.0001 Up 0.03% 47,100 894,449
EOG 10:00AM ET 67.38 Down 2.22 Down 3.19% 328,205 5,068,030

Related posts

Posted under Daily Roundup |
Comments (0)
Dec
04

A good time to step in?

Posted by bakkenexpert

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 loss of any premium associated with growth in the Bakken region.     Of utmost concern is the recover costs per barrel in the bakken region.  There is no exact number, but there have been published reports that it costs upwards of 5 million to establish a productive well in the region and that production costs are anywhere from $30-50 per barrel.     If this is true,  some of the Bakken players can expect to see their margins squeezed in upcoming quarters but in terms of the pps,  it looks to be baked into the stocks as most are down over 75% year to date.     I’m content that CLR doesn’t have much down side from its current price around $15 and if so,  who cares at this point.    I’ll sell covered calls at a strike of 17.5 or 20 until I make a nice profit or the stock just “goes away”.    On another note, below we can tell that most of the short interest is out of these stocks by now and our bakken plays are really just tracking with the price of oil at this point.  In other words,  don’t expect any of these to gap on the upside on news specific to the company in the short term.    Supply and demand will account for 80% of the price movement for the forseeable future.

Fundamentals Edit
Symbol Last Trade P/E Pct from Yr High Short Ratio
NOG 2:01PM ET 2.75 N/A Down 83.23% 9.5
WLL 2:01PM ET 29.46 4.16 Down 73.79% 1.1
SM 2:01PM ET 17.56 4.46 Down 73.22% 2.9
MDU 2:01PM ET 19.82 9.12 Down 43.92% 1.1
GEOI 1:48PM ET 6.59 5.08 Down 77.34% 3
BSIC.OB 12:01PM ET 0.75 3.93 Down 75.33% N/A
WSEG.OB 12:35PM ET 0.05 N/A N/A% -
CLR 2:01PM ET 15.74 7.12 Down 81.22% 1.7
BEXP 2:01PM ET 2.77 6.35 Down 84.86% 5.6
KDKN.OB 1:11PM ET 0.60 N/A Down 83.74% -
KOG 1:57PM ET 0.4359 N/A Down 92.07% 1.6
EOG 2:01PM ET 71.70 7.69 Down 50.55% 1.4

Related posts

Posted under Daily Roundup |
Comments (0)
Nov
16

Latest Active Drilling Rig Report

Posted by bakkenexpert

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 appear that the massive drop in oil has caused drilling to stall in the region although the pace seems to have slowed.

Rig Operator Well Name and Number Current Location
RED HAWK 357 BALLANTYNE OIL HELLER 6-31 SENW 31-162N-82W
NABORS 267 BRIGHAM OIL & GAS LP FIGARO 29-32 1-H NWNW 29-152N-101W
NABORS 49 BRIGHAM OIL & GAS LP STROBECK 27-34 1-H NWNW 27-155N-92W
NABORS 42 BURLINGTON RES O&G CO MILLER #1 SWD SENW 33-132N-106W
PRECISION 645 BURLINGTON RES O&G CO CAROL 44-31H SESE 31-147N-95W
NABORS 59 BURLINGTON RES O&G CO VANNA 44-13H SESE 13-144N-103W
NABORS 52 BURLINGTON RES O&G CO ACADIA 31-25H NWNE 25-151N-97W
NABORS 177 BURLINGTON RES O&G CO MORGAN 34-21H SESE 21-150N-96W
NABORS 688 BURLINGTON RES O&G CO DENALI 31-28H NWNE 28-151N-96W
PATTERSON 82 CONTINENTAL RESOURCES ARMSTRONG 1-24H SWSW 24-141N-99W
CYCLONE 26 CONTINENTAL RESOURCES HOMESTEAD 43-33WSW NESE 33-131N-106W
CYCLONE 22 CONTINENTAL RESOURCES HARRY 42-15NH SENE 15-130N-106W
CYCLONE 27 CONTINENTAL RESOURCES HARRY 22-15SH SENW 15-130N-106W
CYCLONE 2 CONTINENTAL RESOURCES ROSSOW 1-10H SWSW 10-161N-95W
PATTERSON 136 CONTINENTAL RESOURCES SPOONER 1-11H SWSE 11-161N-95W
CYCLONE 21 CONTINENTAL RESOURCES VATNE 1-36H SWSE 36-160N-96W
TRINIDAD 36 CONTINENTAL RESOURCES LANDBLOM 1-35H SESW 35-160N-95W
CYCLONE 19 CONTINENTAL RESOURCES SLOAN 1-17H SESW 17-145N-96W
CYCLONE 10 CONTINENTAL RESOURCES RHONDA 1-28H SESE 28-146N-96W
PATTERSON 180 CONTINENTAL RESOURCES PARRISH 1-31H SWSE 31-150N-96W
CYCLONE 23 CONTINENTAL RESOURCES JEROME 1-15H NENW 15-149N-96W
PATTERSON 154 CONTINENTAL RESOURCES MERTON 1-3H NWNE 3-149N-96W
CYCLONE 9 CONTINENTAL RESOURCES ANDREW 11-32NH NWNW 32-133N-106W
NABORS 277 ENCORE OPERATING LP STATE 11-16H NWNW 16-153N-95W
PRECISION 604 ENCORE OPERATING LP CHERRY CREEK STATE 44-36H SESE 36-150N-98W
PIONEER 57 EOG RESOURCES INC VAN HOOK 5-11H SESE 11-152N-91W
MAJOR 43 EOG RESOURCES INC BURKE 16-22H SWSE 22-155N-90W
NABORS 337 EOG RESOURCES INC FERTILE 5-04H LOT4 4-151N-90W
ENSIGN 88 EOG RESOURCES INC WAYZETTA 17-29H SESE 29-153N-90W
NABORS 149 EOG RESOURCES INC SIDONIA 1-06H SESE 6-158N-90W
ENSIGN 67 EOG RESOURCES INC BURKE 21-30H SWSE 30-155N-90W
NABORS 148 EOG RESOURCES INC BURKE 20-29H SWSE 29-155N-90W
PIONEER 56 EOG RESOURCES INC AUSTIN 3-04H SWSE 4-154N-90W
CYCLONE 25 EVERTSON OPERATING CO INC VIALL 30-1 NWNW 30-157N-96W
NABORS 417 FIDELITY EXPL & PROD CO DEADWOOD CANYON RANCH 44-27H SESE 27-154N-92W
NABORS 358 FIDELITY EXPL & PROD CO GROVE 11-36H NWNW 36-158N-92W
NABORS 455 FIDELITY EXPL & PROD CO MYHRA 28-33H NWNW 28-155N-91W
RED HAWK 351 G3 OPERATING LLC C ISSENDORF 4-11 NWNW 11-160N-79W
NABORS 558 HELIS OIL & GAS CO. LLC HENDERSON 4-1H LOT 1 1-149N-95W
PATTERSON 491 HELIS OIL & GAS CO. LLC JONES 4-24H NWNW 13-150N-95W
NABORS 165 HESS CORPORATION AN-NORBY-152-94- 0409H-1 LOT 1 4-152N-94W
NABORS 742 HESS CORPORATION EN-ENGET-158-93- 1009H-1 SESE 10-158N-93W
NABORS 272 HESS CORPORATION EN-LABAR-154-94 0310H-1 NWNW 3-154N-94W
NABORS 557 HESS CORPORATION EN-D CVANCARA-154-93- 0409H-1 LOT 3 4-154N-93W
H & P 179 HESS CORPORATION RS-THOMPSON-155-92- 0112H-1 LOT 4 1-155N-92W
H & P 241 HESS CORPORATION RS-PULLEN-157-91- 3435H-1 NWNE 34-157N-91W
NABORS 556 HESS CORPORATION RS-F ARMOUR-156-92- 1213H-1 NWNW 12-156N-92W
NABORS 140 HUNT OIL COMPANY JENSEN 1-7H SWSE 7-154N-89W
BRONCO 20 HUNT OIL COMPANY KARBOWSKI 1-22H NENW 22-154N-90W
UNIT 117 KODIAK OIL & GAS (USA) INC MOCCASIN CREEK 16-34-2H SESE 34-148N-93W
H & P 257 MARATHON OIL CO QUILL 34-11H SWSE 11-145N-93W
H & P 255 MARATHON OIL CO KEVIN BENZ 24-31H SESW 31-145N-93W
H & P 259 MARATHON OIL CO NANETTE STROMMEN 21-13H NENW 13-145N-95W
NABORS 44 MARATHON OIL CO OLSON 14-20H SWSW 20-146N-94W
PATTERSON 183 MARATHON OIL CO CHARCHENKO 14-21H SWSW 21-144N-96W
H & P 258 MARATHON OIL CO JODI CARLSON 34-12H SWSE 12-145N-95W
H & P 256 MARATHON OIL CO CHARLES SHOBE - USA 44-19H NENE 30-151N-93W
ENSIGN 71 MUREX PETROLEUM CORP CHAD ALAN 25-36H NENW 25-155N-91W
CYCLONE 20 MUREX PETROLEUM CORP KAYDEN COLE 9-4H SWSW 9-157N-95W
NABORS 419 NEWFIELD PROD CO LOST BRIDGE FEDERAL 16-9H SESE 9-148N-96W
BRONCO 23 NEWFIELD PROD CO WISNESS 1-21H NWNW 21-152N-96W
NABORS 937 OASIS PETRO NO AMER OLSON 11-20H NWNW 20-161N-93W
BRONCO 28 OASIS PETRO NO AMER MIMIR URAN 11-11H NWNW 11-153N-93W
NABORS 592 OASIS PETRO NO AMER THOR-ERIE 44-18H SESE 18-157N-92W
H & P 172 PANTHER ENERGY CO LLC WIL E. COYOTE 9-2H SESE 9-152N-98W
PATTERSON 490 PEAK NO DAK LLC FOUR BEARS 20-11H NWNW 20-152N-93W
ENSIGN 86 PETRO HUNT LLC WOLLAN 27B-2-2H NWNW 27-152N-96W
BRONCO 8 PETRO HUNT LLC PHELPS MINERAL TRUST 6B-2-1H LOT 4 6-153N-94W
ENSIGN 93 PETRO HUNT LLC PHELPS MINERAL TRUST 7B-2-1H LOT 1 7-153N-94W
UNIT 236 QUESTAR E & P CO MHA 1-18H-150-90 NENW 18-150N-90W
NABR WELL 164 SAGEBRUSH RESOURCES LLC RICE STATE 3H NWNW 16-161N-82W
KEY NRG 233 SAGEBRUSH RESOURCES LLC ROSENDAHL 7 SENW 12-163N-81W
NABORS 152 SAMSON RESOURCES CO ANDERSON 10-162-98H NWNW 10-162N-98W
PATTERSON 167 SINCLAIR OIL & GAS CO SINCLAIR STATE 1-36H SWSE 36-154N-93W
RED HAWK 558 SLAWSON EXPLORATION NIGHTCRAWLER #1-17H SWSE 17-152N-91W
PIONEER 44 SLAWSON EXPLORATION BANDIT 1-29H NENE 29-152N-91W
PARAMOUNT 1 SUMMIT RESOURCES INC GAP FEDERAL 1-27H NENW 27-146N-104W
NABORS 614 TRACKER RES DEVMNT ALLAN 17-1H NENW 17-145N-91W
NABORS 182 TRACKER RES DEVMNT HAMILTON 35-1H SWSE 35-146N-97W
PRECISION 511 TRACKER RES DEVMNT GLOVATSKY 21-1H SWSE 21-145N-97W
WARD-W 5 WARD-WILLISTON CO MILDRED NESS 1 SWSE 32-162N-85W
NABORS 686 WHITING OIL AND GAS CORP BUCKHORN RANCH 31-16H NWNE 16-143N-102W
KEY NRG 257 WHITING OIL AND GAS CORP BOYCE FEDERAL 1-20-1A NWNW 20-144N-103W
NABORS 354 WHITING OIL AND GAS CORP FLADELAND 12-18H SWNW 18-153N-91W
NABORS 527 WHITING OIL AND GAS CORP NIEMITALO 11-35H NWNW 35-153N-91W
GREY WOLF 520 WHITING OIL AND GAS CORP BRAAFLAT 21-11TFH NENW 11-153N-91W
H & P 180 WINDSOR ENERGY GROUP LLC WOLF 1-4H SESE 4-151N-92W
ENSIGN 46 XTO ENERGY INC JILEK 44X-33 SESE 33-142N-99W
ENSIGN 24 XTO ENERGY INC JANE FEDERAL 11X-20 LOT 2 20-148N-96W
NABORS 265 XTO ENERGY INC MILLER 34X-9 SWSE 9-145N-90W
NABORS 560 XTO ENERGY INC CROWDER 41X-21 NENE 21-154N-95W
BRONCO 16 ZAVANNA LLC LEONARD 1-23H NWNW 23-154N-99W
ENSIGN 76 ZENERGY INC NYGARD 16-36H SESE 36-152N-98W

Related posts

Posted under Bakken Formation |
Comments (0)
Nov
14

Groundhog day returns

Posted by bakkenexpert

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 through thus far today.    Bakken plays still are gravitating back to their 52 week lows and buyers should be cautious buying into any rallies.    Hedging is still prudent on every long purchase one would make as the market is still very volatile.    All of our stocks seem to be gravitating to a PE of 10 or below and the higher multiple we enjoyed earlier in the year has waned.

bakken Edit
Symbol Last Trade Change Volume Avg Vol (3m)
NOG 11:02AM ET 4.16 Down 0.17 Down 3.93% 69,504 331,758
WLL 11:03AM ET 42.20 Down 1.38 Down 3.17% 432,497 1,383,850
SM 11:03AM ET 20.05 Down 2.29 Down 10.25% 170,378 1,215,760
MDU 11:03AM ET 18.96 Down 1.33 Down 6.55% 382,106 1,519,250
GEOI 11:02AM ET 7.86 Down 1.04 Down 11.69% 38,214 129,927
BSIC.OB 10:24AM ET 0.95 Up 0.04 Up 4.40% 9,500 38,635.9
WSEG.OB 10:07AM ET 0.0570 Down 0.0100 Down 14.93% 18,800 294,761
CLR 11:03AM ET 22.42 Down 2.51 Down 10.07% 354,058 2,188,010
BEXP 10:59AM ET 4.7500 Down 0.4300 Down 8.30% 98,238 961,953
KDKN.OB 10:42AM ET 0.52 0.00 0.00% 43,940 95,348.4
KOG 11:02AM ET 0.42 Down 0.03 Down 7.73% 195,610 1,036,910
EOG 11:03AM ET 80.63 Down 4.34 Down 5.11% 1,801,247 4,910,560

Related posts

Posted under Daily Roundup |
Comments (0)
« Previous Entries

Powered By Wordpress - Theme Provided By Free Wordpress Templates - Auto Loans