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  #161  
Old 08-11-2011, 07:35 PM
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Default every single time

Can you imagine an area approaching 200000 square miles where every single well drilled, if done properly, will produce not just oil but a predictable amount?

Don't forget, there are multiple other former oceans down there.

More oil than just the Bakken to be utilized.
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  #162  
Old 10-17-2011, 03:21 PM
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Default Big Story

BEXP (Brigham Oil) stock jumped $6.00 today.

http://online.wsj.com/article/SB1000...736228236.html

Bought out by a Norwegian company that has other American positions.

BEXP is moderately big in the Bakken and this speaks highly of the Bakkens future.

There are those that think this was a real bargain;

"First person said BEXP deal: $11,733/acre.
Second person said BEXP deal: $12,500/acre.

The second person was incredibly disappointed with the price/acre paid, and I agree.

My calculations show that the better Bakken is conservatively valued at $156,250/acre over the lifetime of the well, and probably much more.

What's really bad about this $/acre basis, is that some E&P companies are paying upwards of $12,000/acre for land that has not been de-risked. With BEXP, most of their land is derisked; they have the permits; they have done the legwork; they have the rigs; they have production,"

That was from milliondollarway.
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Last edited by TedNugget : 10-17-2011 at 09:06 PM.
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  #163  
Old 10-17-2011, 03:27 PM
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Default I dont know anything about investing

DYODD


But KOG was down to $4.00/share a couple weeks ago and it is up to $5.70 currently.

There are a lot of small fry in the Bakken that could rocket with a ME event.

Not to be forgotten is that 100% success rate of the Bakken wells.

==========

I should point out the difficulty and expense the fracing operations are experiencing.

There is a 6 month period in N Dakota where a well is listed as confidential. No production data is provided from the time of spudding during this time.

In that 6 months it is not uncommon to find half the wells not listing production numbers because they haven't been fracked yet.

The good news is that the fracking is getting much better and production numbers look very good so far.

The bad news is that it costs for the ceramics to do this and that material has to be shipped and its hard to get.
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Deficit spending is simply a scheme for the confiscation of wealth.
Gold stands in the way of this insidious process.
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Last edited by TedNugget : 10-17-2011 at 09:08 PM.
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  #164  
Old 10-17-2011, 10:48 PM
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Quote:
Originally Posted by TedNugget View Post
Not to be forgotten is that 100% success rate of the Bakken wells.
Unreal, looks like oil is all over the place in that region.
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  #165  
Old 10-17-2011, 11:30 PM
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Default real

"Unreal, looks like oil is all over the place in that region."

I saw an article where it was something like 25 different layers of source rock had produced oil in the Williston Basin.

Now that doesn't mean that all those layers are worthwhile or that they all exist under every tract.

==============

But regarding the Bakken.
Everywhere one drills within an area about the size of West Virginia there is oil.

- - - - - - - - - - -

The problem isn't finding it or finding the funding. Its getting the fracing completed.
To correct my earlier stat it works out to be 1 in 4 wells hasn't been frac'ed by the end of the 6 month confidential period.

Listen to this:

"BEXP fracked the Lucy Hanson (well name) with 36 stages using 2.7 million pounds of ceramic proppants."

The good news is that ceramic proppants are not polluters in and of themselves. So spills on the surface etc are going to be focused on the oil clean-up.
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  #166  
Old 10-17-2011, 11:32 PM
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Default lucy

"20013, 3,771, BEXP, Lucy Hanson 15-22 1H, Catwalk, Bakken, middle Bakken, it looks like it was a 36-stage frack; 1.3 million pounds sand; 2.7 million pounds ceramic. Lucy Hanson is about 3.5 miles east on 1804 out of Williston, and one mile north of the highway.
On this same pad: 20842, BEXP, Larsen 3-10 2H, Catwalk, Bakken"


============

3,771 barrels pro rated out for the initial day is a lot of oil.

Brigham spent a lot of money to get that fracing done.

Looks like it really paid off.
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  #167  
Old 10-17-2011, 11:35 PM
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Default rig list

The N Dakota rig list shows 195 active rigs.

https://www.dmr.nd.gov/oilgas/riglist.asp

There have been over 200 but some are in transit.

The fracking operations are not part of the rig list.
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"Without a gold standard in place, there is little to prevent governments indulging in wild credit creation.
Deficit spending is simply a scheme for the confiscation of wealth.
Gold stands in the way of this insidious process.
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Last edited by TedNugget : 10-17-2011 at 11:43 PM.
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  #168  
Old 10-25-2011, 06:41 PM
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Default South Dakota ??????

This would be sweet:

"North Dakota's booming oil patch is sweeping down to South Dakota, amid speculation that a reservoir similar to the rich Bakken shale formation could contain millions of barrels of crude.

The Associated Press has learned that a flurry of recent leasing activity in South Dakota is tied to hopes for the Tyler Formation. State geologist Ed Murphy in North Dakota said the formation extends from the western part of that state into northwest South Dakota and may hold up to one-third the volume of oil estimated in the prolific Bakken, a formation the U.S. Geological Survey called the largest continuous oil accumulation it had ever assessed."


http://www.businessweek.com/ap/finan.../D9QFL9MG2.htm
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  #169  
Old 11-03-2011, 10:02 PM
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Thanks for this great informative thread... I found just what I was looking for.. Gotta love that that million dollar way blog!

Anyway..I appreciate all the good info.. and will put it to use!
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Last edited by Element : 11-03-2011 at 10:35 PM.
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  #170  
Old 11-05-2011, 09:12 PM
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Default Milliondollarway

http://latimesblogs.latimes.com/cali...egulators.html

This is a link that Bruce provided:

"Gov. Jerry Brown has fired the state’s top two oil and gas production regulators.

................

The ousters, first reported by the Bakersfield Californian, come as the oil industry spars with state regulators over delays in the permitting process for new drilling projects. According to Bloomberg, the state has granted permits to 14 projects this year out of 199 applications received."

- - - - - - - - - - -

Bruce is conservative and doesn't hide it. He referred to Gov Brown as Gov Moonbeam and not in a positive way.
http://milliondollarway.blogspot.com...bakken_04.html

A point made would be the steady trend in the last year overall of liberal conservationists coming around to a more progressive self reliant energy policy.
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