Sunday, March 7, 2010

Biggest Bakken Stories of the Past Week

Week 9, 2010 (Feb 28 - Mar 6, 2010)

1. New railroad oil loading facility, Dickinson, operational by Oct 2010
Will add 60,000 barrels/day takeaway capacity
350,000 bbls (pipeline) +
60,000 (Stanley/EOG/BNSF) +
60,000 (Dickinson) =
470,000 bbls/day by end of 2010
2. NDIC grants Hess six permits on one location; second time this year.
3. Record number of active rigs in North Dakota: 99.
4. CLR announces its first Eco-Pad; in McKenzie County.
5. Another lackluster Hess well.
6. Questar: an investing opportunity?
7. Sweeping changes proposed by the NDIC, March dockets.
8. CLR announces new method for determining IPs.
9. Price of oil solidly above $81/bbl.

2 comments:

  1. embraceyourinnerhillbillyMarch 8, 2010 at 1:40 PM

    Great News for NOG...I'll make my 1Q prediction now.... 0.19 per share, expecting big things here.

    "WAYZATA, Minn., March 8 /PRNewswire-FirstCall/ -- Northern Oil and Gas, Inc. (NYSE/AMEX: NOG) ("Northern Oil") today announced 2009 net earnings of $2,798,952, representing approximately $0.08 per share, on oil and natural gas sales of $15,171,824, compared to 2008 net earnings of $2,424,340 on oil and natural gas sales of $3,542,994. "

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  2. 2009: Oil / natural gas sales of $15 million.
    2008: Oil / natural gas sales of $3.5 million.
    Very, very impressive, and I could be wrong, but average price of oil in 2009 lower than 2008. Thank you for providing the update.

    ReplyDelete