Hello sir! Please help me understand. In a nutshell, Bakken is good long term because of the amount of oil that can be had. However, short term cost is high to drill. Some drilling companies are pulling out? If so, the major drilling companies are here to stay. I think its understandable some pull out. Major players can cover the cost and wait for the profit. Or am I off? Jeremy
We're back to an all-time high for active rigs in the Bakken today.
The "majors" (CVX, COP, XOM, STO, TOT, BP, ENI, CHK) have either no presence or a relatively small presence in the Bakken. It is the independents with all the activity: CLR, OAS, KOG, BEXP (until recently), WLL, and 140 other operators.
Hello sir! Please help me understand. In a nutshell, Bakken is good long term because of the amount of oil that can be had. However, short term cost is high to drill. Some drilling companies are pulling out? If so, the major drilling companies are here to stay. I think its understandable some pull out. Major players can cover the cost and wait for the profit. Or am I off? Jeremy
ReplyDeleteWe're back to an all-time high for active rigs in the Bakken today.
ReplyDeleteThe "majors" (CVX, COP, XOM, STO, TOT, BP, ENI, CHK) have either no presence or a relatively small presence in the Bakken. It is the independents with all the activity: CLR, OAS, KOG, BEXP (until recently), WLL, and 140 other operators.