Weekly Roundup

Posted by bakken

The number of  “Black Swan” events in the market are on the rise this year to the point that hedge funds are spinning up black swan funds to cash in on future disasters. The good news is that the events are becoming so common place that the markets are growing somewhat immune to the bad news and have held their ground. In the last 45 days we have had a major uprising in the Middle East with civil strife in Egypt, Libya and a host of other countries. Japan has faced its biggest crisis since WWII with a major earthquake and tsunami that some experts say will cost over $300 billion to recover from. Oh, did we fail to mention the accompanying nuclear disaster in Japan that now ranks up with Chernobyl and has no end in site? Through it all US markets held its ground and so did Bakken stocks as oil (WTI crude) prices hovered above $110. Oil has receded since its high as Goldman Sachs made a call that a short term peak may be in place for crude.   Bakken stocks are down 5-8% in the last week but based on price performance and resiliency over the last 12 months,  this appears to be a buying opportunity.    Bakken energy plays may continue to be in favor as overseas instability persists and investors look at domestic producers that can scale their production.  Both NOG and BEXP are off more than 15% from their 52 week highs and may present opportunities for investment at these levels (Both are trading about 10x-12x 2013 earnings).    The news from the region should continue to excite investors as there is no shortage of activity and expansion from a host of smaller players looking to strike Bakken gold.    A few tidbits are listed below:

• American Eagle Energy  (OTCBB: AMZG)  has begun work to obtain approval from state regulators for up to six 1280 acre spacing units with the objective of getting two operated Bakken or Three Forks Formation wells drilled prior to the end of 2011.  These will be the first American Eagle operated wells in the 8,600 acre Spyglass Project.
• American Standard Energy Corp. (ASEN), announces the acquisition of approximately 2,780 acres located in Mountrail County of North Dakota’s Williston Basin, “the Bakken”.  The Company paid an average of $669 per acre for a total transaction price of $1,860,858.
• Blackstone Group (BX: 16.81 +0.78%) is investing in the lucrative area of shale.   Blackstone said on Tuesday it teamed up with shale gas developer Alta Resources to form Alta Energy Partners and they are committing to invest up to $1 billion via this entity to acquire and develop unconventional oil and gas assets in North America.
• Primary Petroleum Corporation (TSX Venture: PIE) commenced its exploration phase on its 242,000 net acre Pondera-Teton prospect located in the southern Alberta Basin Bakken fairway in Western Montana. The Company intends to commence its $14 million CAPEX exploration program with a proprietary 3D seismic program of up to 100 sq. miles covering four prospect areas over its’ 242,000 net acres, followed up with six vertical wells and one horizontal test well to analyze and test the Lodgepole, Bakken and Three Forks Formations for exploitation and development.

Look for our next article which should be posted later this week!

	Company name	Price	Chg %	P/E ratio	Mkt Cap
BEXP	Brigham Exploration Co.	32.41	-4.17%	84.73	3.79B
SM	SM Energy Co.	68.77	-4.21%	22.54	4.36B
CLR	Continental Resources,…	65.73	-3.18%	66.44	11.81B
HES	Hess Corp.	80.31	-1.80%	12.38	27.25B
NOG	Northern Oil & Gas, Inc.	23.54	-3.96%	164.00	1.49B
EOG	EOG Resources, Inc.	109.23	-3.05%	171.31	29.29B

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Active Drilling Rig List – Feb 9th 2010

Posted by bakkenexpert

Only 1 driling rig has been added since the last time we looked at Active Drilling Rig Operators about 2 weeks ago.   EOG is still in the lead with 11 and Whiting Oil & Gas (WLL)  has taken second place with 10.     Continental Resources (CLR) is third with 9 rigs in place.    We really expected Saint Mary’s Land & Exploration to be in the Top 10 in terms of drilling activity in the region but currently they have only 1 rig in operation.  If we look at the rigs themselves,  Nabors has had a stranglehold on the majority of the rigs with a 30% share of all rigs in the region.    Precision Drilling is a distant second with 10% share of all rigs in the region.

We haven’t looked at the Rig Owners in a while, so lets take a fresh look there

Rig	Operator	Well Name and Number	Current Location
NABORS 486	AMERICAN OIL & GAS INC	RON VIALL 1-25H	SWSE 25-156N-98W
BRONCO 16	ANSCHUTZ EXPL CORP	KUBIK TRUST 1-19-18H-143-95	SWSE 19-143N-95W
H & P 255	ANSCHUTZ EXPL CORP	STATE 1-25-36H-144-97X	SWSE 24-144N-97W
PATTERSON 490	ARMSTRONG OP INC	GRUMAN 18-3	NENE 18-139N-96W
RED HAWK 351	BALLANTYNE OIL	AUS 4-22	NWNW 22-159N-83W
ENSIGN 67	BAYTEX ENERGY USA LTD	JACOBSON 15-161-98H	SESE 15-161N-98W
NABORS 266	BRIGHAM OIL & GAS LP	ARNSON 13-24 1-H	NWNE 13-155N-103W
NABORS 350	BRIGHAM OIL & GAS LP	ABELMANN-STATE 21-16 1-H	SESW 21-152N-101W
NABORS 49	BRIGHAM OIL & GAS LP	PAPINEAU TRUST 17-20 1-H	NENW 17-151N-102W
NABORS 52	BRIGHAM OIL & GAS LP	SORENSON 29-32 1-H	NWNE 29-155N-92W
NABORS 59	BURLINGTON RES O&G CO	BOXER 21-6H	LOT 3 6-149N-96W
PRECISION 825	BURLINGTON RES O&G CO	CLEO 2-1H	LOT4 1-149N-96W
NABORS 165	CIRQUE RESOURCES LC	GUNNISON STATE 44-36H	SESE 36-161N-91W
CYCLONE 14	CONTINENTAL RESOURCES	MILES 1-6M	SWSE 31-151N-96W
CYCLONE 20	CONTINENTAL RESOURCES	OTIS 1-13H	NWNE 13-161N-96W
CYCLONE 21	CONTINENTAL RESOURCES	BROCKMEIER 1-1H	NWNW 1-146N-98W
CYCLONE 22	CONTINENTAL RESOURCES	LUNDBERG 1-8H	NWNE 8-146N-96W
CYCLONE 23	CONTINENTAL RESOURCES	GENEVIEVE 1-27H	NENE 27-160N-96W
CYCLONE 25	CONTINENTAL RESOURCES	STEDMAN 1-24H	NWNW 24-155N-104W
CYCLONE 28	CONTINENTAL RESOURCES	KATE 1-19H	NENE 19-147N-96W
PATTERSON 180	CONTINENTAL RESOURCES	MURI 1-27H	NENW 27-151N-97W
TRINIDAD 36	CONTINENTAL RESOURCES	IMSLAND 2-31H	SESW 31-160N-95W
RED HAWK 357	EAGLE OPERATING INC	EM OAS 35-1	NENE 35-162N-93W
PATTERSON 305	ENCORE OPERATING LP	BECKERT 24-7H	SESW 7-145N-94W
PRECISION 289	ENCORE OPERATING LP	PORCUPINE RIDGE 11X-2H	LOT4 2-147N-96W
BRONCO 23	EOG RESOURCES INC	BURKE 29-33H	SESE 33-155N-90W
BRONCO 28	EOG RESOURCES INC	AUSTIN 30-13H	SESE 13-154N-90W
DHS 10	EOG RESOURCES INC	SIDONIA 34-31H	LOT1 31-158N-90W
DHS 12	EOG RESOURCES INC	SIDONIA 29-34H	NENW 34-158N-90W
MAJOR 43	EOG RESOURCES INC	FERTILE 11-10H	NWNW 10-151N-90W
NABORS 148	EOG RESOURCES INC	VAN HOOK 13-35H	SESE 35-152N-91W
NABORS 161	EOG RESOURCES INC	FERTILE 34-31H	NENW 31-151N-90W
NABORS 527	EOG RESOURCES INC	FERTILE 14-17H	SWSE 17-151N-90W
TRUE 28	EOG RESOURCES INC	SIDONIA 8-26H	SESE 26-158N-90W
TRUE 32	EOG RESOURCES INC	SIDONIA 7-25H	NWNW 25-158N-90W
TRUE 33	EOG RESOURCES INC	FERTILE 37-07H	SESE 7-151N-90W
NABORS 108	FIDELITY EXPL & PROD CO	DEADWOOD CANYON RANCH 44-34H	SESE 34-154N-92W
H & P 179	HESS CORPORATION	EN-TROUT-157-93- 3130H-1	SWSE 31-157N-93W
H & P 241	HESS CORPORATION	EN-L CVANCARA-155-93- 2726H-1	SWNW 27-155N-93W
NABORS 1	HESS CORPORATION	RS-RUDOLPH-157-90- 1708H-1	SESW 17-157N-90W
NABORS 460	HESS CORPORATION	BB-FEDERAL-151-95- 0817H-1	NENW 8-151N-95W
BRONCO 20	HUNT OIL COMPANY	SEVERANCE 1-9-4H	SESW 9-153N-89W
H & P 317	HUNT OIL COMPANY	KING 35-4H	NENW 35-157N-90W
UNIT 117	KODIAK OIL & GAS (USA) INC	MOCCASIN CREEK 13-34-28H	SWSW 34-148N-93W
H & P 256	MARATHON OIL CO	MYLO WOLDING 14-11	SWSW 11-151N-93W
H & P 257	MARATHON OIL CO	GLENN ECKELBERG 24-8H	SESW 8-146N-93W
H & P 258	MARATHON OIL CO	MYRMIDON 1-2H	LOT 1 2-151N-94W
H & P 259	MARATHON OIL CO	FETTIG 11-27H	NWNW 27-146N-95W
PIONEER 44	MUREX PETROLEUM CORP	ALFRED BROWN 2	NENE 34-151N-96W
PRECISION 602	MUREX PETROLEUM CORP	TERESA NELL 20-17H	SESE 20-157N-95W
PRECISION 645	MUREX PETROLEUM CORP	JOYCE 3-10H	LOT 4 3-154N-91W
NABORS 272	NEWFIELD PROD CO	PITTSBURGH 1-3H	NWNW 10-153N-96W
NABORS 419	NEWFIELD PROD CO	HEIDI 1-4H	SESE 4-156N-99W
NABORS 476	NEWFIELD PROD CO	SAND CREEK FEDERAL 1-21H	NENW 28-153N-96W
NABORS 149	OASIS PETRO NO AMER	HYNEK 5693 42-35H	SESW 35-156N-93W
NABORS 177	OASIS PETRO NO AMER	ANGELL 5200 31-28H	NWSW 28-152N-100W
BRONCO 22	PETRO HUNT LLC	FORT BERTHOLD 148-94-22A-27-1H	NWNE 22-148N-94W
BRONCO 8	PETRO HUNT LLC	ANDERSON 152-96-35C-26-1H	SESW 35-152N-96W
ENSIGN 46	PETRO HUNT LLC	JONSRUD 151-96-3B-10-2H	NENW 3-151N-96W
ENSIGN 93	PETRO HUNT LLC	FORT BERTHOLD 152-93-17C-08-1H	SESW 17-152N-93W
UNIT 329	QUESTAR E & P CO	MHA 1-06-31H-150-92	SESW 6-149N-92W
KEY NRG 439	SAGEBRUSH RESOURCES LLC	DEIBLER 25-16	SESE 25-162N-83W
PRECISION 512	SIMRAY GP LLC	LEVINGS ESTATE 1-08H	SESE 8-149N-93W
MAJOR 27	SLAWSON EXPLORATION	ATLANTIS FEDERAL 1-34-35H	NWSW 34-152N-92W
NABORS 687	SLAWSON EXPLORATION	CANNONBALL FEDERAL 1-27-34H	NENW 27-152N-91W
RED HAWK 558	SLAWSON EXPLORATION	WIZARD 1-35H	NENW 35-152N-93W
NABORS 152	ST MARY LAND & EXPLORATION CO	ANDERSON 12-14H	NWSW 14-149N-96W
NABORS 182	TRACKER RES DEVMNT	WERRE TRUST 29-1H	SW SW 20-144N-94W
NABORS 44	TRACKER RES DEVMNT	LIND 2-1H	NWNE 2-145N-97W
BRONCO 59	WHITING OIL AND GAS CORP	OLSON FEDERAL 42-8H	SENE 8-153N-91W
NABORS 686	WHITING OIL AND GAS CORP	RON OLSON 31-1HCE	NWNE 1-155N-97W
NABORS 99	WHITING OIL AND GAS CORP	ROHDE 43-1H	NESE 1-153N-92W
PIONEER 56	WHITING OIL AND GAS CORP	ANNALA 12-33H	SWNW 33-153N-91W
PIONEER 57	WHITING OIL AND GAS CORP	HOLMBERG 44-24H	SESE 24-153N-93W
PIONEER 66	WHITING OIL AND GAS CORP	MEIERS 11-17H	NWNW 17-154N-92W
PIONEER 67	WHITING OIL AND GAS CORP	SMITH 12-7H	LOT 2 7-153N-91W
PRECISION 106	WHITING OIL AND GAS CORP	PLATT 43-28H	NESE 28-154N-91W
PRECISION 51	WHITING OIL AND GAS CORP	CURREN 11-14H	NWNW 14-153N-93W
PRECISION 520	WHITING OIL AND GAS CORP	TTT RANCH 12-25H	SWNW 25-154N-92W
H & P 180	XTO ENERGY INC	H M HOVE 34X-33	SWSE 33-155N-96W
NABORS 265	XTO ENERGY INC	BOOMER 34X-35	LOT 3 35-148N-97W
NABORS 681	XTO ENERGY INC	THOMAS 44X-18	SESE 18-154N-95W
NABORS 742	XTO ENERGY INC	MONDAK FEDERAL 14X-11	SWSW 11-148N-105W
NABORS 742	XTO ENERGY INC	WARD 11X-23	NWNW 23-154N-95W
NABORS 688	ZAVANNA LLC	GENE 1-22H	SESE 22-154N-99W
CYCLONE 31	ZENERGY INC	ROLFSRUD 7-6H	SESW 7-152N-97W
ENSIGN 76	ZENERGY INC	LUNDEEN 4-26H	NWNW 26-152N-98W
PARAMOUNT 517	ZENERGY OPERATING CO LLC	DAKOTA-3 CLARA 14-17H	SESW 17-149N-93W
PRECISION 517	ZENERGY OPERATING CO LLC	DAKOTA-3 VAN HOOK – R/S 16-4H	SESE 4-150N-92W
PRECISION 96	ZENERGY OPERATING CO LLC	DAKOTA-3 BIRDSBILL 14-16H	SESW 16-149N-93W

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