Sunday, March 27, 2011

Bottineau Spearfish Wells -- The Canadian Invasion -- More on Relationships Among Involved Oil Companies

Updates
When I started this blog a couple of years ago, I placed the "major" or better known producers that were in North Dakota on this sidebar to try to keep some organization. It hasn't worked out too well; just too much information to keep track of, sort, link, etc.

One of those producers that comes to mind is Crescent Point Energy (every time I type that, I think of "Hotpoint" -- amazing what a trade name will do).

When I remember, I will cross-link Crescent Point Energy stories at this post. A lot of folks write in from Bottineau area asking about the Spearfish; now I have a place to gather that material.

Since I was remiss in leaving Crescent Point off the sidebar so long, I will leave them at the top of this list for awhile, and eventually put them where they belong alphabetically.

News

May 27, 2015: acquires Legacy Oil + Gas.

April 15, 2014: Spectacular Three Forks wells just north of Divide County, North Dakota, in Canada.

October 9, 2013: comment from a reader -- "Just noticed that even if Crescent Point isn't drilling right now in ND, they are renewing their permits. They renewed two permits shown in the Oct. 7 NDIC Daily Activity Report."

February 17, 2012: Crescent Point acquires 20,000 net acres from PetroBakken in southeastern Saskatchewan

Website

August 31, 2011: Crescent Point Energy acquires more than 78 net sections in North Dakota -- sections, so about 640 acres x 78 = about 50,000 acres, along with 750 boepd production. In conjunction with the acquisition, Crescent Point has entered into a two-year agreement with a "leading US fracture stimulation company with operations in North Dakota to secure access to equipment and services for the Company's expanded development plans in 2012."

Crescent Point is also upwardly revising its 2011 exit production rate to more than 77,500 boepd from 76,500 boepd.

This new acquisition will target lower-risk Bakken and Three Forks zones.

Original Post

As noted earlier, Corinthian Exploration (USA) Corporation acquired Ritchie's Spearfish wells in Bottineau County, North Dakota. I assume Corinthian Exploration (USA) Corporation is related to Corinthian Energy in Calgary, Alberta, Canada.

Corinthian Energy was bought by Surge Energy in 2010 and that's why when you click on http://www.corinthianenergy.ca you are re-directed to Surge Energy.

In addition, Legacy Oil and Gas also has Spearfish wells in Bottineau County.

According to the Surge Energy website, Paul Colborne is the chairman of Surge Energy. He is also the Chairman of Legacy Oil and Gas and serves on the Board of Directors of Crescent Point Energy Corporation. Crescent Point has permits north of Williston in and around the Ambrose field. Crescent Point has said the Alberta Bakken and the North Dakota Bakken may be amenable to waterflooding.

For those interested in more detail regarding the relationship between some of these companies, click here, and read the small print regarding the directors. Very, very interesting, although I prefer watching Lily Allen. She quit producing number one records because she couldn't make any money at it; that was back in 2009. In 2011, she started her own record label. Hopefully she starts charting again.

Friday Night, Lily Allen. If you like this, you might enjoy seeing Lily Allen live on the Porter Wagoner show.