Tuesday, August 28, 2012

The Bakken Pool: A Trillion Barrel Reserve; 45 Billion Recoverable Barrels? -- The August, 2012, CLR Corporate Presentation


September 21, 2014: looking at CLR's annual "Analyst and Investor Day" presentation, it appears that CLR has gone back to the 500-billion-bbl reservoir. Will provide a link later. 

August 17, 2013: from a reader on Bakken naysayers:
I chuckle when I read about folks saying the Bakken has peaked and is starting to fizzle.
One recent comment was the wells are becoming less productive because they are drilling further away from the sweet spots.
I like to look at Harold Hamm, the guy who came to the WB as a very small operator, picked up a bunch of production and leases on the SE end of the Cedar Creek Anticline because the majors thought it was played out and proceeded to create one of the largest onshore oil fields in the lower 48 by pioneering a combination of horizontal drilling and fire flood recovery in a continuous dolomite formation, the Red River.
CLR is now a pioneer in the Bakken, a continuous dolomite formation, where if you look at their recent presentation you can see they are working on pilot programs to see what will work the best for full fledged development regarding 320 acre or 160 acre spacing.
And that is for basically the MB and B1 of TF formations. A recent question and answer period I heard the comment that CLR feels that there are portions of the basin that will see development of 7 layers. The 4 benches of the TF, MB, Upper Bakken, and Lodgepole. Another comment I once heard was the secondary recovery methods used in the Red River will be a model for the Bakken. Do you suppose a technique that burns some of the oil in place that would produce heat, pressure, and a by product CO2 would work?
It will still be years before it is known where ALL of the SWEET SPOTS are located.
Once that is determined a full scale model for infrastructure can be developed. Gas lines, processing plants, oil pipeline gathering systems, fresh water provisions, disposal systems, and a beefed up system of all access roads to get the job done.
Dr Price predicted that there were maybe 450 Billion barrels in the Bakken system. He also felt that eventually 50% of that oil would be recovered. How long will that take? How many generations will it take to develop the technology far enough to get that done?
As Bakken production becomes sustained and more and more people are dependent on it and the support industries become well established, the technology will continue to evolve. In the last 10 years technology has advanced much in terms of getting more Bakken oil out of the ground. Let's see where we are 6 generations or 120 years from now. Will we be able to get 50% of that oil? If so 120 years of development and another 30 years of production means 50% of the oil in place will be produced. Let's say that Mr. Hamm with his knowledge and experience is right with the prediction that there is likely 900 billion barrels in place so if 50% of that is produced over 150 years or 450 billion divide by 150 equals 3 billion barrels per year. To divide by 365 days that would mean over  8 million barrels per day. For 150 years!
Where are we now? About 10% of that! Let's say Bakken production peaks in the neighborhood of Texas-sized production and the state produces 2 million barrels per day until 450 B are produced. 2 million x 365 = 730,000,000 barrels per year. 450 billion divided by 730 million = 616 years. To meet that goal would give the industry 586 years to develop the technology. The naysayers ain't seen nothin' yet!
December 6, 2012: the note below was written before we knew the results of CLR's plan to target the third bench of the Three Forks formation was known. Now we know.

Original Post

Don alerted me to the most recent CLR corporate presentation when it first came out; I was too busy to get to it at the time, but said I would eventually get to it. Then I forgot all about it. Fortunately, Brian, sent me a comment suggesting I should take a look. How fortuitous.

This is another corporate presentation that seems to have been missed by many of us. If Mike Filloon has mentioned it I missed it.

This stand-alone post should be filed under "How big is the Bakken?" The numbers are staggering.

As you go through this, remember, I often make mistakes, have no formal training in any of this, and am prone to misreading slides and presentations. But this is what I think I saw in CLR's most recent corporate presentation. 

First, some data points:
  • folks can correct me, but I believe the official estimate is that the Bakken has about 3 billion barrels of recoverable oil, based on a USGS survey back in 2008
  • CLR/CEO, Harold Hamm, stated some time ago his company's estimate is that the Bakken/Three Forks (middle Bakken and upper Three Forks) has about 24 billion barrels recoverable oil
  • The "original" Leigh Price paper, never published, estimated that there was 150 to 500 billion barrels of original oil in place (OOIP) in "the Bakken"
  • the consensus, if there is such a thing, suggests that OOIP is probably nearer the lower end of Leigh Price's estimates
  • the consensus, if there is such a thing, is that about 3% of OOIP is recoverable
  • 3% of 100 billion bbls OOIP --> 3 billion bbls
  • to some of us, it appears that operators are recovering about 8% of OOIP; if one accepts the middle of the Leigh Price estimate, let's say 300 billion barrels OOIP, then 8% of 300 --> 24 billion bbls of recoverable oil; one can argue only 6% is recoverable, but then take a higher Leigh Price estimate, say 400: 6% of 400 billion --> 24 billion bbls
So, we will stop there and catch our breath. I'm doing that all from memory, as it were, and my numbers and what I recall may be inaccurate; I will gladly correct/refine if necessary once the stand-alone post is up.

For those interested in the Leigh Price paper:

So, now, we've caught our breath. So far, we've been talking about only the middle Bakken and the upper Three Forks when we are talking about Harold Hamm's potential of 24 billion barrels of recoverable oil from "the Bakken." Hold that thought.

It turns out there may be additional payzones within the Three Forks formation/under the "upper" Three Forks that will affect these numbers. Continental Resources and others are referring to these "zones" or "sub-formations" that are part of the Bakken Pool, but deeper to the upper Three Forks as "benches. And to be clear: these "benches" are part of the Three Forks formation.

It's possible the "definition" of each of the "benches" has changed over time; Continental Resources has talked about these deeper benches for quite some time, and it's my impression that with the most recent CLR corporate presentation there is much more clarity.

Now would be a good time to pull up CLR's August 10, 2012, corporate presentation.

First, click here, a listing of recent CLR presentations.

Then, under Presentations, the very first presentation: Investor Update, August 13, 2012. It's a 3.0 MB PDF file and even on an old computer it seemed to load rather easily. It's dated August 10, 2012, so I assume the "August 13, 2012" date is the date it was posted on their presentation web page.

Go to slide 14.

The graphic will lay out the upper Bakken and lower Bakken shale (currently avoided for the most part), with the middle Bakken, between the upper and the lower Bakken shale.

Then, below the Bakken, one notes four yellow "sub-formations" or "zones" in yellow. These are the "benches" that folks are referring to. There are four benches: TF1, TF2, TF3, and TF4.  (The "TF" stands for Three Forks.)

Generally speaking, when folks talk about nice wells in the Three Forks, they are talking about the "upper" Three Forks, which seems to correspond to TF1. My hunch is that not all operators are differentiating the various benches and I don't know if all "Three Forks" wells have been in the upper or first bench or if some have gone lower.

Continental Resources is in the process of testing these four benches in something they call their "Charlotte Unit." CLR is drilling four wells into four different zones -- they say they are the first operator to have wellbores in four different zones.

CLR refers to these four wells as "Charlotte" wells. So far, according to the NDIC GIS map, only two of these Charlotte wells have permit numbers; I don't see permit numbers for two of the others.

Charlotte 1 and Charlotte 2 are in the heart of the Bakken, in Banks oil field, in north central/northeast McKenzie County, just south of the river; again, I don't see Charlotte 3 and Charlotte 4 yet with permit numbers. [Just after posting this, a reader pointed out that permits for Charlotte 4-22H and Charlotte 5-22H were just issued. There are two Charlotte wells in Siverston field, but they are Newfield wells; so ignore. Update: August 30, 2012 -- #23664 for Charlotte 3.] So, here are the "Charlotte unit wells, the targeted "zone" and the location;
  • 19918, 496, Charlotte 1-22H, middle Bakken, SWSE 22-152-99; Banks, 30 stages; 2.5 million lbs; t6/11; cum 150K 10/12; total depth: 21,090 feet;
  • 23664, conf, Charlotte 3-22H, Banks, TF1, SESE 22-152N-99W
  • 21128, 692, Charlotte 2-22H, Banks, TF2, SWSW 22-152-99; 30 stages; 2.3 million lbs; t10/11; cum 74K 10/12; total depth: 21,358 feet;
  • 23612, A, Charlotte 4-22H, TF3, Banks, [Update: see press release, December 3, 2012]
  • 23608, loc --> conf, Charlotte 5-22H, Banks, ?TF4
From the well files:
  • 19918, Charlotte 1-22H, middle Bakken geologic marker: 11,276 feet;
  • 21128, Charlotte 2-22H, TF2, Three Forks geologic marker: 11,273 feet;
The geologist stated in the well summary that the target zone for Charlotte 2-22H was the "lower Three Forks. That makes sense. Generally speaking, it's my understanding that when folks are talking about "Three Forks wells" they are talking about the upper Three Forks sub-formation. Below that would be the lower Three Forks. CLR feels the four zones are distinct, i.e., the four benches.

So, stopping again, to catch our breath. It appears to me that two of the four Charlotte wells in section 22-152-99 have been drilled and were completed last summer and late fall. The middle Bakken well (Charlotte 1) was completed in June, 2011, and had produced more than 125,000 bbls one year later (June, 2012).

Results for Charlotte 2 are noted above.


Summary so far:

CLR is testing the hypothesis that in some areas of the Williston Basin, there are four, maybe five, payzones in the Bakken Pool (the middle Bakken, and three, maybe four, payzones in the Three Forks, which they call benches). 

CLR has drilled into the middle Bakken ("everyone" does that) and into the "lower Three Forks"/"second bench" (TF2) (something new?). Both wells were highly successful.

They will next drill into TF1 (the "upper Three Forks) and TF3. To the best of my knowledge those permits have not been issued; at least they are not indicated on the GIS map server yet.

There is something else on slide 14 that is very, very interesting. One of the "concerns" or "complaints" about "the Bakken" is that it is not very thick. Seams are measured in tens of feet, whereas they say the Eagle Ford is measured in hundreds of feet (or so I believe).  If CLR is correct that there are four payzones in the Three Forks (at least in some areas of the Williston Basin), then we start to see much thicker payzone overall -- in this case, on slide 14: 310 feet

A "formation/pool" that is 310 feet thick is not trivial. 
So, enough of that. What else does this mean? Are you holding that thought that I told you to hold some paragraphs above?  Here it is again:
So far, we've been talking about only the middle Bakken and the upper Three Forks when we are talking about Harold Hamm's potential of 24 billion barrels of recoverable oil from "the Bakken." 
When the USGS estimates there are 3 billion bbls of recoverable "Bakken" oil, the society is looking at only the middle Bakken and the upper Three Forks. Remember, CLR suggests that these two zones may have 24 billion bbls of recoverable oil.

The August 10, 2012, presentation has been significantly updated from previous presentations. I won't make you look at previous presentations, but in the past, CLR had a slide that showed in big, bold letters: 24 billion bbls of recoverable oil; and, then in small letters, marked with an asterisk, "lower zones should be additive."

In the August 10, 2012, CLR has a new slide, or at least is seems new to me: slide 12: expanding the Bakken vertically. 

Remember Leigh Price's paper, upwards of 500 billion bbls of OOIP? There, on slide 12, the middle Bakken and the "1st bench" (upper Three Forks), 577 billion bbls of OOIP, and note the qualifier: "revised estimate."

The 2nd, 3rd, and 4th bench are estimated to have 326 billion bbls of OOIP.

577 + 326 =  903 billion bbls. For a thirty-second sound bite, that's a trillion bbls OOIP. In just the Bakken Pool.

Assuming 5% recovery, which I think is conservative for the "easy zones/core Bakken," one gets 45 billion bbls of recoverable oil.

Now, unless I'm missing something, CLR has just raised their estimates of recoverable oil from the Bakken Pool from 24 billion bbls to 45 billion bbls and are estimating the Bakken Pool to be just shy of a trillion bbls of OOIP.  For all intents and purposes, CLR has doubled their estimate of recoverable oil from the Bakken Pool.

Time will tell. But I think slide 12 is new; and slide14 has been made clearer (compared with the August 8, 2011, corporate presentation, slide 9). The earlier slide 9 did not include the 310' marker for the Bakken Pool, again a number that is not trivial. 
Earlier I said: As you go through this, remember, I often make mistakes, have no formal training in any of this, and am prone to misreading slides and presentations. But this is what I think I see in CLR's most recent corporate presentation. But if I am correct in what I think I see, and if CLR is even close to being accurate, it helps explain why QEP was willing to pay the price they did for the Helis et al acreage. That acreage is in the same general area, about 25 miles to the southeast (the "Helis Grail" is about 25 miles to the southeast of Banks oil field where the Charlotte wells are).

Again, unless I'm missing something or misinterpreting it, CLR has almost doubled Dr Price's original estimate of OOIP (by including lower benches which Dr Price was probably not aware of) and CLR has almost doubled their estimate of total recoverable oil.

The 30-second sound bite of a trillion-barrel reservoir, and 50 billion recoverable bbls seems about right.

I apologize ahead of time if I am "jumping the shark" on this.  

High Initial Production Numbers -- Page 2

Page 6
Page 5

NOTE: On March 17, 2013, Petroleum News, posted the three wells with highest IPs to date in North Dakota. The Petroleum News article is at this link.  If that link breaks or the article is otherwise inaccessible, here is the link to the MDW post regarding same.

Todd oil field: field of dreams?


New data will start to be added here after August 28, 2012. Data through August 28, 2012, is found at page 1.

23702, 3,072, Oasis, Taylor N 5200 14-29B, Camp, t4/13; cum 139K 3/15;
24973, 2,437, MRO, Brigner 24-24H, Bailey, t7/13; cum 139K 3/15;

24645, 3,107, Oasis, Pingora 5200 41-20B, Camp, t8/123; cum 165K 3/15;
23630, 1,975, Statoil, Reiten 23-14 2H, Painted Woods, t8/13; cum 89K 3/15;
23991, 4,071, Statoil, Johnston 7-6 2TFH, Banks, t8/13; cum 179K 3/15;
23669, 2,660, KOG, Koala 8-5-6-5H, Poe, t8/13; cum 168K 3/15;
23668, 2,432, KOG, Koala 8-5-6-4H3, Poe, t9/13; cum 148K 3/15;
23382, 2,710, HRC, Fort Berthold 147-94-1B-12-3H, McGregory Buttes, t5/13; cum 344K 9/15;
23555, 2,018, HRC, Fort Berthold 152-94-14D-11-3H, Antelope, t6/13; cum 125K 3/15;

22981, 2,396, HRC, Fort Berthold 148-94-9C-04-3H, Eagle Nest, t7/13; cum 179K 3/15;
24625, 2,854, BR, Badlands 41-15TFH, Hawkeye, t8/13; cum 138K 3/15;
24189, 3,192, Zenergy, Link 10-3H, Foreman Butte, t7/13; cum 127K 3/15;

24180, 4,065, Statoil, East Fork 32-29 3H, East Fork, t8/13; cum 247K 3/15;
24181, 3,012, Statoil, Folvag 5-8 3H, Stony Creek, t8/13; cum 153K 3/15;
23631, 2,174, Statoil, Michael Owan 26-35 3H, Painted Woods, t8/13; cum 97K 3/15;
24196, 2,251, KOG, P Evans 154-99-2-4-9-15H3, Stockyard Creek, t8/13; cum 129K 3/15;
22980, 3,077, HRC, Fort Berthold 148-94-9C-0404H, Eagle Nest; average gas, 3,523 units; t7/13; cum 172K 3/15;

23990, 3,657, Statoil, Beaux 18-19 2TFH, Banks, t8/13; cum 139K 3/15;

23948, 2,454, KOG, Charging Eagle 15-21-16-3H3, Twin Buttes; t7/13; cum 184K 3/15;

24686, 2,207, QEP, G. Levang 13-32/29H, Grail, t8/13; cum 207K 3/15;
24687, 2,740, QEP, G. Levang 4-32-29BH, Grail, t8/13; cum 211K 3/15;
24685, 2,994, QEP, G. Levang 3-32-29BH, Grail, t8/13; cum 274K 3/15;
23949, 2,298, KOG, Charging Eagle 15-21-16-2H, Twin Buttes; t7/13; cum 151K 3/15;

23950, 2,411, KOG, Charging Eagle 15-21-16-2H3, Twin Buttes; t7/13; cum 98K 2/14;

23209, 2,009, MRO, William USA 31-2TFH, Reunion Bay, t7/13; um 92K 2/14;
23763, 1,519, EOG, Van Hook 127-0107H, Parshall; t4/13; cum 199K 2/14;
23764, 2,342, EOG, Van Hook 20-0107H, Parshall; t4/13; cum 282K 2/14;

23887, 2,064, Statoil, Eveland 30-19 1H, Briar Creek, t7/13; cum 67K 2/14;
23972, 3,249, Statoil, State 36-1 4TFH, Stony Creek, t8/13; cum 77K 2/14;
23973, 2,995, Statoil, Rose 12-13 2TFH, Avoca, t8/13; cum 41K 2/14;
24604, 2,272, KOG, P Wood 154-98-4-27-34-13HB, Truax, t7/13; cum 84K 2/14;
24790, 1,859, KOG, Smokey 16-7-19-16H, Pembroke, t8/13; cum 67K 2/14;
25032, 2,244, Liberty Resources, Erickson 152-103-26-35-2H, t8/13; cum 56K 2/14;

24608, 2,017, KOG, P Wood 154-98-2-27-34-15H, Truax, t7/13; cum 17K 7/13;
24770, 2001, Statoil, TML 14-13 1H, Briar Creek, t7/13; cum 54K 2/14;
24127, 2,487, BR, Lloyd 14-24MBH, Blue Buttes, t5/13; cum 14K 7/13;

24398, 2,909, QEP, MHA 1-04-33H-150-92, Heart Butte, t7/13; cum 104K 2/14;
24400, 2,844, QEP, MHA 2-04-33H-150-92, Heart Butte, t7/13; cum 110K 2/14;
24399, 2,381, QEP, MHA 3-04-33H-150-92, Heart Butte, t7/13; cum 96K 2/14;
24401, 2,384, QEP, MHA 4-04-33H-150-92, Heart Butte, t7/13; cum 103K 2/14;

23729, 1,803, Statoil, Delorem 12-1 3H, Painted Woods, t7/13; cum 30K 2/14;
23730, 1,942, Statoil, Boots 13-24 3H, Painted Woods, t7/13; cum 50K 2/14;
23974, IA/3,997, Statoil, Rose 12-13 7H, Avoca, t8/13; cum 81K 1/14; went inactive in December, 2013

24366, 2,102, QEP, MHA 4-04-03H-149-91, Heart Butte, t7/13; cum 98K 2/14;

24626, 2,924, BR, Badlands 41-15MBH, Hawkeye, t8/13; cum 75K 2/14;

24610, 2,197, KOG, P Wood 154-98-2-27-34-16H, Truax, t7/13; cum 75K 2/14;
24483, 2,840, BR, CCU Prairie Rose 31-30MBH, Corral Creek, t7/13; cum 49K 1/14;
24611, 1,806, KOG, P Wood 154-98-2-27-34-16H3A, Truax, t7/13; cum 65K 2/14;
24245, 2,445, BR, CCU Prairie Rose 11-30TFH, Corral Creek; t4/13; 44K 2/14;

24482, 2,963, BR, CCU Meriwether 24-19MBH, Corral Creek, t7/13; cum 40K 2/14; unitized spacing,
23888, 2,984, Statoil, Gyda 31-6 1H, Briar Creek, t7/13; cum 79K 2/14;
24833, 3,084, Statoil, Houston 11-2 1H, Buford, t7/13; cm 87K 2/14;

23412, 2,074, XTO, Hegg 21-29SEH, Siverston, t/7/13; cum 53K 2/14;
24037, 1,868, XTO, FBIR Darcie 34X-14H, Heart Butte, t6/13; 42K 2/14;
24079, 3,581, Oasis, Anonsen 5393 14-3B, Sanish, a nice well; t3/13; cum 71K 6/13;
24080, 2,627 Oasis, Flavin 5393 14-3T, Sanish, a nice well, t3/13; cum 66K 6/13;
24606, 2,118, KOG, P Wood 154-98-4-27-34-13HA, t7/13; cum 84K 2/14;

22914, 2,954, BR, Sun Notch 44-32TFH, Sand Creek, t5/13; cum 14K 6/13; 

21466, 2,448, MRO, William USA 31-2H, Reunion Bay, t7/13; cum 147K 2/14;
23646, 2,325, BR, Copper Draw 24-22TFH 2SH, Johnson Corner, 4 sections, t7/13; cum 113K 2/14;
23576, 2,061, Whiting, Havelka 11-15PH, Dickinson, t2/13; cum 28K 6/13;
23383, 2,343 HRC, Fort Berthold 148-94-36C-25-3H, McGregory, t5/13; cum 44K 6/13

24247, 2,966, BR, CCU Meriwether 14-19MBH, unitized spacing, Corral Creek, t7/13; cum 52K 2/14;
22968, 2,129, BR, CCU Burner 21-26TFH, unitized spacing, Corral Creek, t7/13; cum 82K 2/14;
24246, 2,164, BR, CCU Meriwether 14-19TFH, unitized spacing, Corral Creek, t7/13; 67K 2/14;

23123, 2,075, HRC, Fort Berthold 148-94-19D-18-3H, Eagle Nest, t6/13; cum 10K 6/13;

22797, 2,574, Statoil, Esther Hynek 10-11 2TFH, Alger, t7/13; cum 28K 2/14;
23124, 2,265, HRC, Fort Berthold 148-94-30A-31-3H, Eagle Nest, t6/13; cum 16K 6/13; 
22939, 3,042, Statoil, Enderud 9-4 4TFH, Banks, t7/13; cum 72K 2/14;
23558, 2,320, Statoil, Jake 2-11 2TFH, Last Chance, t7/13; cum 75K 2/14;
23647, 2,886, BR, Lillibridge 24-22TFH 3NH, Johnson Corner, t7/13; cum 95K 2/14;
23648, 2,725, BR, Copper Draw 24-22MBH 3SH, Johnson Corner, 4-section, t7/13; cum 111K 2/14;

23709, 2,157, KOG, P Thomas 153-98-5-10-11-1H, Truax, t6/13; cum 19K 6/13;

24009, 2,089, Statoil, Paulson 36-1 1H, Briar Creek, t7/13; cum 57K 2/14;
23557, 3,606, Statoil, Jake 2-11 1H, Last Chance, t7/13; cum 80K 2/14;

23674, 2,811, Statoil, Esther Hynek 10-11 7H, Alger, t6/13; cum 38K 2/14;

23675, 2,236, Statoil, Esther Hynek 10-11 6TFH, Alger, t6/13; cum 40K 2/14;

20513, 2,365, EOG, Riverview 3-3130H, Clarks Creek, t3/13; cum 354K 2/14;

23388, 3,375, Statoil, Beau 18-19 3TFH,

22330, 4,439, BEXP, Taylor 14-23 1H, Elk, t2/13; cum 124K 12/13;

24374, 1,860, KOG, P Wood 154-98-3-27-34-14H3, Truax, t6/13; cum --
24376, 915, KOG, P Wood 154-98-3-27-34-15H3M, Truax, t6/13; cum --
24375, 2,085, KOG, P Wood 154-98-3-27-34-15H, Truax, t6/13; cum --
24649, 1,824, KOG, P Wood 154-98-3-27-34-14H, Truax, t6/13; cum --
24173, 2,771, Statoil, Panzer 22-23 4H, Alger, t6/13; cum --
24174, 2,004, Statoil, Panzer 22-23 3TFH, Alger, t6/13; cum -- 

24121, 2,886, BR, Blegen 44-24MBH, Blue Buttes, t6/13;

24255, 2,447, HRC Operating, Fort Berthold 152-93-7D-6-2H, Four Bears, t4/13; cum 45K 5/13

23387, 5,387, Statoil, Beaux 18-19 4H, Banks, t6/13; cum --
23983, 2,542, Statoil, Topaz 20-17 2TFH, Banks, t6/13; cum --
25198, 2,691, Whiting, Littlefield 21-31H, Sanish, t6/13; cum --

25105, 8,443, Whiting, Rohde 13-6TFX, t6/13; Sanish, cum -- (we'll see if this is corrected?)

22912, 2,972, BR, Old Hickory 14-33TFH, Sand Creek, 4-sec spacing, t5/13; cum 12K 5/13;
23303, 2,888, WPX, Blackhawk 1-12H, Moccasin Creek, t11/12; cum 78K 5/13;
23017, 4,174, Oasis, Ashlin 5300 44-12B, Willow Creek, t2/13; cum 82K 5/13;
23018, 2,559, Oasis, Andy 5300 44-12T, Willow Creek, t2/13; cum 51K 5/13;
22387, 4,460, Whiting, Skaar Federal 41-3-2H, Westberg, t6/13; cum --
22388, 4,956, Whiting, Skaar Federal 41-3-3H, Westberg, middle Bakken; Pioneer 74 Flex rig; gas averaged 276 through the lateral but spiked to 3,895 units and above; did not see completion data;  t6/13; cum --
22386, 4,456, Whiting, Skaar Federal 41-3-1H, Westberg, middle Bakken; Pioneer 74 Flex rig; gas averaged 484 throughout the lateral, but spikes of 7,000 units and above were noted; did not see completion data; t6/13; cum --

23385, 5,070, Statoil, Beaux 18-19 6H, Banks, t6/13; cum -- ; 7 days to drill the lateral; I did not see completion data; 31 swell packers planned; 

22805, 1,971, Statoil, Wright 4-33 2TFH, Alger, t6/13; cum --  
23859, 2,909, Statoil, Wright 4-33 5H, Alger, t6/13; cum --

24615, 3,167, QEP, Hemi 3-34-27BH, Grail, producing
24257, 4,125, Murex, Albert Skari 35-26H,  Sandrocks, t2/13; cum 75K 5/13;
24343, 2,880, BR, Waterton 34-32TFH, Keene, t5/13; cum 4K 5/13;
24616, 2,389, QEP, Hemi 2-34-27TH, Grail, t5/13; cum 9K 5/13;

24230, 2,927, BR, State Veeder 11-25MBH, Blue Buttes, 2-section spacing;
24453, 1,453, Newfield, Rolla State 152-97-1-1H, Westberg, t5/13; cum 14K 5/13;
24537, 2,842, BR, Midnight Horse 11-1MBH-ULW, Union Center, 4-section spacing, t5/13;
24614, 2,729, QEP, Hemi 3-24-27TH, Grail, t5/13; cum 15K 5/13;

23543, 2,772, Statoil, Albert B. 27-34 5H, Nameless, t5/13; cum -- 

24229, 2,900, BR, State Veeder 11-25TFH, Blue Buttes, t5/13; cum 14K 4/13;

22938, 2,945, Statoil, Banks State 16-21 4TFH, Banks, t5/13; cum --

24206, 2,342, QEP, MHA 8-04-33H-150-92, requested 640-acre spacing unit;  Heart Butte, t5/13; cum --
24208, 2,573, QEP, MHA 7-04-33h-150-92, requested 1280-acre spacing unit; Heart Butte, t5/13; cum --
24207, 2,641, QEP, MHA 6-04-33H-150-92, requested 640-acre spacing, Heart Butte, t5/13; cum --
24209, 2,854, QEP, MHA 5-04-33H-150-92, requested 1280-acre spacing, Heart Butte, t5/13; cum --

20761, 2,196, Zenergy, OMLID 18-19HTF, Elidah, t4/13; cum 21K 41/3;

23116, 2,176, Statoil, Cora 20-17 6TFH, Poe, t5/13; cum --
23434, 2,044, Statoil, Roger Sorenson 8-5 5H, Alger, t5/13; cum --
23545, 2,446, Statoil, Albert B. 27-34 3H, Nameless, t5/13; cum --
24120, 2,405, BR, Blegen 34-24MBH, Blue Buttes, t6/13; cum --
24119, 2,981, BR, Blegen 34-24TFH, Blue Buttes, t6/13; cum --
24105, 2,646, XTO, Stenberg 14-10SEH, North Tobacco Garden, t4/13; cum 15K 4/13;
24220, 2,078, G3 Operating, Berg Trust Federal 1-26-35H,  Pembroke, t3/13; cum 44K 4/13;

22940, 4,295, Statoil, Banks State 16-21 3H, Banks, t5/13; cum -- 

22484, 2,946, EOG, Hawkeye 102-2501H, Clarks Creek, t1/13; cum 103K 4/13;
22485, 1,926, EOG, Hawkeye 01-2501H, Clarks Creek, t1/13; cum 109K 4/13;
22371, 3,668, QEP, Hazel 13-34/27H, Grail, t5/13; cum --

23119, 3,426, Statoil, Cora 20-17 5H, Poe, t5/13; cum --
22902, 2,404, Statoil, Topaz 20-17 4TFH, Banks, t5/13; cum 2K 4/13;
22605, 2,628, Statoil, Scha 33-34 3H, Alger, t5/13; cum --
23666, 2,806, BR, Kummer 21-30MBH, Blue Buttes, producing,

22322, 4,630, BEXP, Cheryl 17-20 2TFH, Banks, t4/13; cum 20K 5/13;

23721, 2,880, BR, Inga 14-21H, Haystack Butte, 2-section spacing; t2/13; cum 27K 4/13;

21561, 1,731, QEP, MHA 1-31-25H-150-92; Heart Butte, t5/13; cum --
21557, 2,140, QEP, MHA 1-31-36H-150-92, Heart Butte, t5/13; cum --
21558, 2,359, QEP, MHA 3-31-36H-150-92, Heart Butte, t5/13; cum --
21559, 2,032, QEP, MHA 5-31-25H-150-92, Heart Butte, t5/13; cum --

23836, 2,984, BR, Waterton 11-29TFH, producing, t4/13; cum 4K 4/13;
24406, 2,076, KOG, P. Thomas 153-98-5-3-2-8H, Truax, t4/13; cum 12K 4/13;

22900, 3,660, Statoil, Topaz 20-17 3H, Banks, 4/13; cum --
22901, 3,225, Statoil, Samson 29-32 3H, Banks, t4/13; cum --
23740, 2,311, Statoil, Jerome Anderson 15-10 6H, Alger, t4/13; cum --
21815, 4,680, Statoil, Richard 8-5 1H, Banks, t4/13; cum 250K 9/15;
24555, 1,993, Whiting, Lacey 21-1H, Sanish, t4/13; cum --

21875, 2,047, Statoil, Bratcher 10-3 2H, Ragged Butte, t3/13; cum 5K 3/13;
21876, 3,153, Statoil, Lonnie 15-22 1H, Ragged Butte, t4/13; cum --
22807, 3,793, Statoil, Richard 8-5 2H, Banks ,t4/13; cum --
22872, 3,091, Statoil, Pyramid 15-22 4H, Todd, t3/13; cum 12K 3/13;
22873, 2,835, Statoil, Pyramid 15-22 3H, Todd, t3/13; cum 9K 3/13;
22874, 1,884, Statoil, Pyramid 15-22 2TFH, Todd, t3/13; cum 3K 3/13;
22875, 2,341, Statoil, Pyramid 15-22 1H, Todd, t3/13; cum 43K 5/13;
22941, 2,581, Statoil, West Bank 26-23 1H, t3/13; cum --
22942, 2,274, Statoil, Sullivan WMA 35-2 1H, t4/13; cum --
22086, 2,052, KOG, P. Thomas 153-98-5-3-2-1H3, Truax, t4/13; cum --
23834, 3,458, XTO, Lundin 44X-11H, Siverston, t4/13; cum --
23840, 2,079, XTO, Leiseth 24X-22F, North Tobacco Garden, t4/13; cum --
20250, 1,944, XTO, Wayne 34X-34F, West Capa, t3/13; cum 9K 3/13;
23469, 3,146, XTO, Lawlar 41-15SEH, North Tobacco Garden, t4/13; cum --
23833, 2,653, XTO, Lundin 44X-11C, Siverston, t4/13; cum --

24405, 2,367, KOG, P. Thomas 153-98-5-3-2-1H, Truax,  t4/13; cum --
24104, 2,380, XTO, Stenberg 14-10SWH, North Tobacco Garden,  t4/13; cum --

20064, 1,875, Whiting, Froehlich 21-28PH, Bell, t11/12; cum 88K 5/13;
22373, 2,172, Whiting, Froehlich 11-28PH, Bell,  t11/12; cum 56K 3/13;
22774, 1,947, Whiting, Froehlich 41-28PH, Bell, t11/12; cum 61K 3/13; 

24136, 2,894, BR, Lassen 41-26TFH, Blue Buttes, t3/13; cum 3K 3/13; 2 section-spacing
22864, 1,890, Whiting, Obrigewitch 41-17PH, Bell, t11/12; cum 69K 3/13;
22865, 2,312, Whiting, 3 J Trust 44-8PH, Bell, t11/1; cum 70K 3/13;
23133, 2,004, BR, CCU Prairie Rose 41-30 MBH, Corral Creek, t2/13; cum 4K 3/13;

23837, 2,444, BR, Waterton 11-29MBH, Keene, middle Bakken;
23838, 2,334, BR, Waterton 21-29TFH, Keene, Three Forks;

23452, 2,187, WPX, Dancing Bull 16-21HZ, Van Hook, t4/13; cum --
24056, 2,271, KOG, Moccasin Creek 14-11-2-3H, Moccasin Creek,  t1/13; cum 43K 3/13; 

23293, 3,878, BR, Mesa Verde 24-22TFH, Clear Creek, spacing, 2-section; t3/13; cum --
23926, 3,027, Newfield, Staal 150-99-23-14-2H, South Tobacco Garden, t3/13; cum --

21383, 3,194, Oasis, Zaye Federal 5201 34-2H, Camp, t11/12; cum 75K 3/13;

23225, 2,169, KOG, Moccasin Creek 4-3-34-3H3, Moccasin Creek, spacing: W2; t2/13; cum 28K 3/13; Three Forks; 16 stages; 2 million lbs; all ceramics, I believe;
23649, 2,650, BR, Kummer 31-30MBH, Blue Buttes, t3/13; cum 5K 3/13;
22966, 1,648, BR, CCU Golden Creek 24-23MBH, Corral Creek, unitized spacing, t4/13; cum --
22965, 2,896, BR, CCU Golden Creek 34-23MBH, Corral Creek, unitized spacing, t4/13; cum --
23224, 2,473, KOG, Moccasin Creek 4-3-23-4H, Moccasin Creek, t2/13; cum 17K 2/13;

22578, 3,906, Statoil, Gunderson 15-22 3H, Banks, t3/13; cum --
22729, 2,008, Statoil, Alger State 16-21 2TFH, Banks, t3/13; cum --

23331, 2,282, QEP, MHA 1-03-34H-150-92, Heart Butte, t3/13; cum 42K 5/13;
23332, 2,348, QEP, MHA 3-03-34H-150-92, Heart Butte, t3/13; cum 48K 5/13;
23333, 2,310, QEP, MHA 1-03-35H-150-92, Heart Butte, t3/13; cum 40K 5/13;
23334, 1,949, QEP, MHA 3-03-35H-150-92, Heart Butte, t3/13; cum 35K 5/13;
23335, 1,791, QEP, MHA 2-02-35H-150-92, Heart Butte, t3/13; cum 27K 5/13;

22334, 2,006, Petro-Hunt, USA 153-95-22C-15-2H, Charlson, t12/12; cum 59K 2/13;

22730, 2,235, Statoil, Holm 9-4-3TFH, Alger, t2/13; cum 5K 2/13;
22806, 3,464, Statoil, Cheryl 17-20 3TFH, Banks, t2/13; cum 12K 2/13;
23703, 2,208, Oasis, Carol J A 5200 14-29T,

23665, 2,525, BR, Kummer 11-30MBH, Blue Buttes, 2-section spacing; t3/13; cum-- 

23230, 2,734, Oasis, Ash Federal 5300 11-18T, Baker, t11/12; cum 44K 2/13;
23476, 2,513, Oasis, Whitten 5393 11-3B, Sanish, t12/12; cum 51K 2/13;
22848, 2,257, KOG, Koala 15-33-28-3H, Poe, t11/12; cum 80K 2/13;

23294, 2,962, BR, Mesa Verde 34-22MBH, Clear Creek; 2-section spacing, t2/13; cum --

23288, 2,234, Whiting, Timber Creek 21-27H, Arnegard, t10/12; cum 60K 2/13;
23134, 2,124, BR, CCU Powell 11-29TFH, Corral Creek, spacing, unitized; 

22808, 4,439, BEXP, Cheryl 17-20 4H, Banks, t2/13; cum 36K 2/13;
22632, 2,400, BEXP, Marcia 3-10 4TFH, Last Chance, t2/13; cum 13K 2/13;
22631, 3,201, BEXP, Marcia 3-10 3H, Last Chance, t2/13; cum 19K 2/13;

22792, 2,926, BR, Kirkland 21-28TFH 3SH, Pershing, 4-section spacing; t1/13; cum 3K 2/13;

23463, 3,539, Oasis, Doris H 5200 44-20B, t2/13; cum -- 

23532, 527, CLR, Louisville 2-9H, Last Chance, t2/13; cum 5K 1/13;
24264, 1,253, Whiting, S-Bar 11-7H, Sanish, t3/13; cum --
22633, 768, Oasis, Jazz Federal 6093 42-20H, Gros Ventre, t2/13; cum --

20167, 949, Hess, EN-Johnson A-155-94-2932H-3, Alkali Creek, t3/13; cum --
23259, 515, KOG, Grizzly 146-99-3-3-10-13H3, Ranch Creek, t2/13; cum -- 1/13;

23536, 2,315, Slawson, Gabriel 2-36-25H, North Tobacco Garden, t12/12; cum 31K 1/13;
23634, 2,004, GMX Resources, Lange 44-31-2H, Bennett Creek, t2/13; cum 6K 1/13;

23440, 2,030, XTO, Thompson 21-11SH, Charlson, t2/13; cum 10K 5/13;;

23262, 2,967, BR, Mesa Verde 44-22MBH, Clear Creek, 2-section spacing; t3/13; cum 5K 5/13;

24242, 2,971, Whiting, Fladeland 14-33H, Sanish, t2/13; cum 71K 5/13;
23101, 17,777, QEP,  MHA 1-06-32H-150-92, Heart Butte, 1920-acre spacing if approved; t2/13; cum 107K 5/13;
23100, 1,922, QEP, MHA 3-06-32H-150-92, Heart Butte, t2/13; cum 52K 5/13;
23099, 1,994, QEP, MHA 2-06-32H-150-92, Heart Butte, t213; cum 33K 5/13;
23098, 1,632, QEP, MHA 4-06-32H-150-92, Heart Butte, t2/13; cum 24K 5/13;
23102, 1,966, QEP, MHA 4-06-31H-150-92, Heart Butte, t2/13; cum 51K 5/13;
23403, 2,148, XTO, FBIR Smith 11X-10A, Heart Butte, t1/13; cum 5K 1/13;
23462, 3,054, Oasis, Elery H 5200 14-20T, Camp, t2/13; cum --
23320, 3,611, BEXP, Porter 35-26 2H, Alexander,  t1/13; cum 18K 1/13;

23089, 3,164, BEXP, Jarold 25-36 1H, Todd, t1/13; cum 13K 1/13;
23090, 2,118, BEXP, Jarold 25-36 2TFH, Todd, t1/13; cum 7K 1/13;

23570, 2,602, Newfield, Sand Creek Federal 153-96-23-14-10H, Keene, "Bakken/ThreeForks," t2/13; cum --
22740, 3,863, Oasis, Larry 5301 44-12B, Baker, t9/12; cum 51K 1/13;
22642, 2,271, Oasis, Birdhead 5200 41-22T, Camp, t10/12; cum 74K 1/13;
21591, 2,662, Newfield, Sand Creek Federal 153-96-23-14-2H, Keene, t2/13; cum --,
21057, 2,982, BR, Hilman 31-29H, Haystack Butte, flaring; t12/12; cum 3K 1/13;
23295, 2,592, BR, Mesa Verde 14-22TFH, Clear Creek, flaring, t1/13; cum 3K 1/13;
23261, 3,880, BR, Mesa Verde 34-22TFH, Clear Creek, t2/13; cum --
23263, 2,978, BR, Mesa Verde 44-22TFH, Clear Creek, t3/13; cum --

21592, 2,771, Newfield, Sand Creek Federal 153-96-23-14-3H, Keene, frac data not seen; t2/13/ cum

22193, 2,367, QEP, Kummer 1-6/7H, Croff, on natural gas pipeline almost immediately; huge well; t10/12; cum 168K 5/13;

22088, 2,530, Oasis, Dubuque 5300 14-22B, Willow Creek, t9/12; cum 82K 5/13;

23084, 2,129, KOG, Moccasin Creek 16-10-3-3H, Moccasin Creek, t1/13; cum 23K 1/13;
23085, 2,506, KOG, Moccasin Creek 16-10-3-3H3, Moccasin Creek, t12/12; cum 35K 1/13;

22758, 2,485, BR, Iron Horse 11-2TFH, Union Center, t11/12; cum 6K 1/13;
22850, 2,338, KOG, Koala 15-33-28-2H, t11/12; cum 64K 1/13;
23277, 2,000, Newfield, Darlene Federal 152-97-13-24-3H, Westberg, t1/13; cum --
22303, 1,952, Oasis, Thomas S 5300 41-12B, Crazy Man Creek, t10/12; cum 70K 12/12;
22304, 1,364, Oasis, Celia S 5300 41-12T, Crazy Man Creek, t10/12; cum 43K 12/12;
22347, 2,621, Oasis, Basey 5300 44-12T, Crazy Man Creek, t9/12; cum 54K 12/12;
22348, 2,661, Oasis, Kovars 5300 44-12B, Crazy Man Creek, t9/12; cum 48K 12/12; 

21544, 2,496, GMX Resources, Akovenko F24-34-2H, Ranch Creek, t11/12; cum 14K 12/12;
22462, 1,941, KOG, Moccasin Creek 16-26-27-12H, Moccasin Creek, t1/13; cum --
22465, 2,095, KOG, Moccasin Creek 16-26-27-13H3, Moccasin Creek, t12/12; cum 9K 12/12
22791, 2,084, BR, Morgan 21-28TFH 3NH, Pershing, 4-section spacing, t1/13; cum --

23275, 2,102, Newfield, Darlene Federal 152-97-13-24-2H, Westberg, no production data;

19962, 2,059, KOG, P State 154-97-3-16-21-13H3, Truax, t12/12; cum 8K 12/12;

23030, 2,966, BR, Walter 31-29MBH, Haystack Butte, 2-sec spacing; t12/12; cum 21K 5/13;

22113, 2,077, MRO, Baker USA 11-18H, Van Hook, t11/12; cum 38K 12/12;

23068, 2,454, Statoil/BEXP, Liffrig 29-50 5H, Alger, a nice well; t12/12; cum 143K 7/17;
22849, 2,120, KOG, Koala 15-33-28-2H3, Poe, t11/12; cum 73K 15/13; a Three Forks well; look at the well name; 28 stages; 4.4 million lbs; all ceramic;

22361, 4,971, Whiting, Tarpon Federal 21-4-3H, Twin Valley, Middle Bakken "C" facies well; t12/12; cum 567K 5/18;
23067, 2,393, BEXP, Ross-Alger 6-7 5H, Alger, t11/12; cum 17K 11/12; on a NG pipeline

22136, 2,776, BEXP, Syverson 1-12 1H,  Stony Creek, t12/12; cum 78K 5/13;
22922, 2,907, BEXP, Syverson 1-12 2TFH Stony Creek, t12/12; cum 72K 5/13;

19263, 2,429, KOG, Two Shields Butte 5-7-8-1H, Heart Butte, t10/12; cum 46K 11/12;
23688, 2,448, Whiting, Lioneld Fladeland 12-12H, t12/12; cum 87K 5/13;
23904, 2,004, Whiting, Ness 41-31XH, t12/12; cum 70K 5/13;
17308, 2,545, BR, CCU Meriwether 44-19TFH, Corral Creek, t7/12; cum 49K 5/13;

21442, 2,125, KOG, Smokey Kinden 14-21-16-3H,  Pembroke, t11/12; cum 75K 5/13; middle Bakken, 28 stages; 4 million lbs;

22790, 2,325, BR, Kirkland 21-28MBH 2SH, Pershing, t1/12; cum 29K 5/13; 4 sections;

20715, 2,412, Statoil/BEXP,  Beaux 18-19 1H, Banks, t11/12; cum --
22330, 3,050, Statoil/BEXP, Taylor 14-23 1H, Elk, t12/12; cum 238K 5/18;
22549, 2,276, Statoil/BEXP, Liffrig 29-20 2H, Alger, t11/12; cum 7K 11/12;
23033, 2,888, Statoil/BEXP, Jennifer 26-35 1H, East Fork, t11/12; cum --
22481, 2,016, Statoil/BEXP, Wright 4-33 4H, Alger, hooked up to a NG pipeline; t9/12; cum 36K 11/12;

20714, 3,884, Statoil/BEXP, Johnston 7-6 1H, Banks, t11/12; cum --
22712, 2,207, Statoil/BEXP, Holm 9-4 4H, Alger, t11/12; cum 14K 11/12;
22380, 2,209, Statoil/BEXP, Vachal 3-34 3H, Alger, some natural gas being sold; t10/12; cum 29K 11/12;
22428, 4,341, Oasis, Casey 5200 13-30B, Camp, looks like a great well; t7/12; cum 141K 5/13;

21924, 2,897, BR, Jackson 14-22MBH, Haystack Butte, t10/12; cum 7K 11/12;

22755, 2,605, BR, Iron Horse 31-2MBH, Union Center, t10/12; cum 74K 5/13;
22814, 2,365, BR, CCU Powell 229TFH, Corral Creek, t10/12; cum 3K 10/12; 
21817, 2,524, KOG/North Plains Energy, Jorgenson 5-14H, Truax, t9/12; cum 40K 10/12;

20511, 2,647, KOG, Two Shields Butte 5-7-8-1H3, Heart Butte, t10/12; cum 29K 10/12;

19196, 2,395, Murex, Ventura 11-2H, West Bank, Bakken, t11/10; cum 133K 10/12;

22697, 1,875, Statoil/BEXP, Hospital 31-36 2TFH, Alger, t11/12; cum 1K 10/12;
22646, 1,947, Statoil/BEXP, Jerome Anderson 10-15 4H, Alger, t11/12; cum --
21770, 4,790, Statoil/BEXP, Domaskin 30-31 2H, Alger, t11/12; cum --

20273, 2,372, XTO, FBIR Headlessturtle 44X-32C, Heart Butte, t9/12; cum 16K 10/12;
22756, 2,204, BR, Iron Horse 21-2TFH, Union Center, t11/12; cum 10/12; 
21622, 2,020, Statoil/BEXP, Strobeck 27-34 7H, Alger, t7/12; cum 64K 10/12;
20627, 2,499, Whiting, Lindseth 12-12TFH, Sanish, t11/11; cum 73K 5/13;

22711, 2,599, Statoil/BEXP, Alger State 16-21 3H, Alger, t11/12; cum --
22713, 2,114, Statoil/BEXP, Alger State 16-21 4TFH, Alger, t11/12; cum --
22645, 1,225, Statoil/BEXP, Jerome Anderson 10-15 3TFH, Alger, t11/12; cum --
22695, 2,042, Statoil/BEXP, Ross-Alger 6-7 4TFH, Alger, t11/12; cum --
22754, 2,324, BR, Iron Horse 31-2TFH, Union Center, t11/12; cum --

20159, 2,752, Statoil/BEXP, Field 18-19 2H, Todd (Williston), t8/12; cum 43K 10/12;
21552, 2,351, QEP, MHA 2-31-25H-150-92, Heart Butte, t10/12; cum 8K 10/12; 4 sections;
21554, 2,430, QEP, MHA 1-31-30H-150-91, Heart Butte, t10/12; cum 78K 5/13; 4 sections;
21556, 2,376, QEP, MHA 3-31-30H-150-91, Heart Butte, t10/12; cum 70K 5/13; 4 sections;

22871, 2,457, KOG, P Alice 154-99-4-3-27-4H3, Epping, t8/12; cum 43K 10/12;
22999, 2,201, Statoil/BEXP, Jerome Anderson 10-15 5H, Alger, t10/12; cum 6K 10/12;

21771, 3,080, Statoil/BEXP, Jack Cvancara 19-18 2H, Alger, t10/12; cum 7K 10/12;
21712, 2,604, Statoil/BEXP, Rich 30-31 3H, Todd, t10/12; cum 17K 10/12;
22696, 2,898, Statoil/BEXP, Ross-Alger 6-7 3H,  Alger, t10/12; cum 8K 10/12;

19891, 2,087, Whiting, Cymbaluk 21-15PH, Bell, Pronghorn Sand prospect; nice well; 60K in first four months; t6/12; cum 65K 10/12;

21309, 2,027, KOG, Koala 14-32-29-2H3, Poe, t9/12; cum 37K 10/12;
21564, 2,288, Helis, Levang Federal 14-21/16H, Blue Buttes, 40K first full month; t812; cum 662K 5/18;
21664, 3,235, Statoil/BEXP, Skarston 1-12 1H, Banks, 33K first month; 16K second month; t9/12; cum 126K 5/13;
20823, 2,880, BR, Arches 44-35TFH, Keene, t6/12; cum 76K 9/12; 

21923, 2,968, BR, Dayton 14-22MBH, Haystack Butte, t10/12; cum -- 

21769, 3,603, Statoil/BEXP, Domaskin 30-31 3H, Alger, t101/2; cum --
21772, 2,994, Statoil/BEXP, Jack Cvancara 19-18 3TFH, Alger, t10/12; cum --
21711, 2,272, Statoil/BEXP, Rioch 30-31 2H, Todd, t10/12; cum --
22675, 2,640, BR, Midnight Run 11-1TFH, Union Center, t10/12; ; cum 272K 5/18;
22623, 2,766, Statoil/BEXP, Heen 26-35 3TFH, Williams
22057, 2,561, Statoil/BEXP, Wagenman 29-32 1H, Williams

22148, 2,958, Statoil/BEXP, Albert B. 27-34 1H, Nameless, t5/12; cum 57K 9/12;
22056, 2,437, Statoil/BEXP, Wagenman 29-32 2H, Todd, t10/12; cum --
21710, 3,229, Statoil/BEXP, Rich 30-31 1H, Todd, t10/12; cum --
22587, 2,633, Statoil/BEXP, Lonnie 15-22 3H, Ragged Butte, t10/12; cum --
22624, 2,162, vBEXP,  Smith Farm 23-14 3TFH, Cow Creek, t9/12; cum 5K 9/12;
20058, 2,020, Whiting, Bartelson 44-31H, Sanish, Mountrail, t5/12; cum 45K 9/12;
21454, 2,846, BR, Concord 44-10MBH, Little Knife, Dunn, t9/12; cum 5K 9/12;

22681, 2,298, XTO, Roxy 21X-6B, West Capa, t8/12; cum 37K 9/12;

20515, 2,462, KOG/BTA, P Alice 154-99-4-3-27-4H, Epping, Williams, t8/12; cum 38K 9/12;

21953, 2,790, Statoil/BEXP, Cvancara 20-17 2TFH, Alger, t9/12; cum 14K 9/12;
23251, 2,370, Whiting, Rohde 41-1H, Sanish, t9/12; cum 6K 9/12;
22022, 3,382, Statoil/BEXP, Edna 11-2 1H, Camp, t7/12; cum 35K 9/12; 
22454, 3,634, Statoil/BEXP, Marcia 3-10 1H, Last Chance, t8/12; cum 40K 9/12;

21543, 3,203, Statoil/BEXP, Knight 35-26 1H, Banks, t9/12; cum 20K 9/12;
22461, 3,545, Statoil/BEXP, Liffrig 29-20 4H, Alger, t7/12; cum 133K 5/13;
22783, 2,256, KOG, P Alexander 155-99-16-11-1-1H3, East Fork, t8/12; cum 88K 5/13;

21955, 2,972, Statoil/BEXP, Cvancara 20-16 3H, Alger, t9/12; cum 95K 5/13;
22081, 3,383, Statoil/BEXP, Heen 26-35 2H, Todd, t9/12; cum 93K 5/13;
21952, 4,293, Statoil/BEXP, Sorenson 29-32 3H, Alger, t9/12; cum 327K 5/18;
21954, 3,078, Statoil/BEXP, Sorenson 29-32 4H, Alger, t9/12; cum 88K 5/13;
22082, 3,058, Statoil/BEXP, Smith Farm 22-14 2H, Cow Creek, t9/12; cum 92K 5/13;
20560, 2,124, BR, Everglades 11-3TFH, Keene oil field, t8/12; cum 108K 5/13;

21508, 3,288, Statoil/BEXP, Maston 34-27 1H, Banks, t9/12; cum 103K 5/13;
22174, 3,126, Whiting, Kannianen 22-32XH, Sanish, t9/12; cum 150K 5/13;

21742, 2,832, BR, Amanda 41-14MBH, Haystack Butte, t8/12; cum 72K 5/13;

21308, 2,461, KOG, Koala 14-32-29-3H, Banks, t9/12; cum 303K 7/17;
22023, 3,079, Statoil/BEXP, Bill 14-23 1H, Alexander, t8/12; cum 89K 5/13;

21709, 2,066, Statoil/BEXP, Borsheim Trust 33-28 3H, Todd, t8/12; cum 91K 5/13;
22453, 2,622, Statoil/BEXP, Marcia 3-10 2TFH, Last Chance, t8/12; cum 87K 5/13;

22291, 2,650, Statoil/BEXP, Arvid Anderson 14-11 3H, Alger, t9/12; cum 75K 5/13;

21902, 4,059, Oasis, Wren Federal 5300 41-26H, Willow Creek, t5/12; cum 292K 5/18;
21542, 2,978, BR, Ivan 11-29TFH, Elidah, t7/12; cum 58K 5/13;
22026, 1,040, Whiting, Stubstad 13-6TFX, Sanish, t4/12; cum 111K 5/13; does not meet criteria, but TF wells; 
22027, 1,969, Whiting, Stubstad 14-6TFX, Sanish, t4/12; cum 123K 5/13; does not meet criteria, but TF wells;
21456, 2,014, Helis, TAT 13-35/26H, Grail, t7/12; cum 193K 5/13; doesn't meet criteria, but another nice Helis well in the Grail;

20899, 2,980, Statoil/BEXP, Eldridge 29-20 1TFH, Briar Creek, t8/12; cum 215K 7/17; this is about as far west in North Dakota as you can get before you are in Montana; south of the river, just west of the confluence; this is a huge well for this area!

22399, 3,330, Oasis, Left 5200 13-30H, Camp, t7/12; cum 330K 5/18;
22403, 2,093, BEXP, Esther Hynek 10-11 4TFH, Alger, t8/12; cum 71K 5/13;
22404, 2,591, BEXP, Esther Hynek 10-11 3H, Alger, t8/12; cum 84K 5/13;

22202, 2,104, Zenergy, Johnsrud 19-18H, Siverston, t5/12; cum 107K 5/13; 
19216, 3,442, BEXP, State 36-1 3H, Stony Creek, t6/12; cum 126K 5/13; 

20400, 2,783, Oasis, Bering 5200 12-29H, Camp, t8/12; cum 131K 5/13; 

20532, 3,088, BEXP, Garmann 19-18 1H, Banks, t8/12; cum 264K 5/18;
21904, 1,542, QEP, MHA 4-06-07H-147-92, Heart Butte, (doesn't qualify, but reported with those below), t8/12; cum 101K 5/13;
21905, 2,223, QEP, MHA 2-06-07H-147-92, Heart Butte, t8/12; cum 81K 5/13;
21906, 2,142, QEP, MHA 4-32-33H-148-92, Heart Butte, t8/12; cum 75K 5/13;
21908, 2,180, QEP, MHA 2-32-33H-148-92, Heart Butte, t8/12; cum 83K 5/13;
22007, 2,700, BEXP, Panzer 22-23 1H, Alger, t6/12; cum 92K 5/13;
22867, 1,052, Whiting, Pennington 11-3TFH, Sanish, (doesn't qualify but reported same day as all the above); t8/12; cum 67K 5/13;

22189, 2,350, KOG, P Vance 154-97-2-17-20-15H, Truax, t7/12; cum 82K 5/13;
22190, 1,817, KOG, P Vance 154-97-2-17-5-5H, Truax, t7/12; cum 75K 5/13; (on its own, it does not qualify, but reported out same day as #22189)

21078, 2,129, KOG, P Alexander 155-99-16-11-2-1H, East Fork, t8/12; cum 93K 5/13;
21907, 3,779, BEXP, Shorty 4-9 1H, Stony Creek, t6/12; cum 282K 5/18;

21792, 2,982, BEXP, Sax 25-36 1H, Banks, t7/12; cum 105K 5/13;

21081, 2,053, KOG, P Peterson 155-99-2-15-22-15H3, Epping, t6/12; cum 215K 5/18;

22035, 1,962, BEXP, Strobeck 27-34 3TFH, Alger, t7/12; cum 62K 5/13 (I included this one because it was reported the same day as #22035)
22034, 2,944, BEXP, Strobeck 27-34 2H, Alger, t7/12; cum 102K 5/13; 
22311, 2,779, XTO, Thompson 44X-20E, Blue Buttes, t5/12; cum 452K 5/18;

21694, 3,347, BEXP, Cora 20-17 1H, Poe; t7/12; cum 104K 5/13; 
20997, 2,823, BEXP, Charles 3-10 1H, Todd oil field (city of Williston); t5/12; cum 111K 5/13; 
21146, 3,109, BEXP, Sjol 5-8 1H, Williston oil field, t6/12; cum 299K 5/18;

22338, 2,425, KOG, Thomas 154-98-15-33-28-1H3, Truax, t5/12; cum 111K 5/13;

What They Will Be Talking About Wednesday Morning; Whiting Has a Great Well and .... a DRY Well;

For a cup of coffee, you can probably turn this bit of trivia into a "bet" that will get someone else to buy you your cup of coffee:
  • North Dakota produces more oil with 7,300 wells than California does with 60,000 wells -- source at this link, last line of the article. 
Meanwhile, gasoline prices surge to holiday high - Bloomberg.

Price of oil: creeping to $97

Weather: the hurricane. 

Politics: Democratic National Convention to have two hours of Islamic prayers on Friday of its convention; supposedly the Catholic Church was denied a request to "say a prayer" at convention; I'm sure there's more to the story -- see link. I did not read any of the 790 comments (so far), perhaps the most comments I've seen for almost any story on the internet. With price of gasoline surging to new highs, and OPEC still in control, this is an important story.
Daily Operations Report

Number of active rigs: 191 (3 over the recent low)

Three very nice IPs released from confidential status:
  • 20505, 2,868, Whiting, Brown 41-28XH, Sanish, t3/12; cum 92K 6/12;
  • 21312, 1,087, Hess, AN-Gudbranson-153-94-2215H-2, Elm Tree, t7/12; cum ---
  • 21682, 1,454, Denbury, Lund 44-8SH, Siverston, t7/12; cum 6K 6/12;
In addition to those, a number of producing wells were completed:
  • 21491, 835, CLR, Bohmbach 4-35H, Elm Tree, t7/12; cum --
  • 20286, 833, Zenergy, Loren 1-12H, Rosebud, t8/12; cum
  • 22464, 599, Whiting, S-Bar 21-2TFH, Sanish, t7/12; cum ---
  • 22463, 1,119, Whiting, S-Bar 21-2H, Sanish, t7/12; cum --
  • 21490, 736, CLR, Bohmbach 3-35H, Elm Tree, t7/12; cum 0  6/12; 
Something we don't see often, a dry hole:
  • 20418, DRY, Whiting, O'Neil Creek Federal, Bicentennial, McKenzie, TD: 10,630 feet; nothing in the file report, yet, that I could see that explained this; drilled to the Three Forks, then plugged and abandoned; porosity graph for the Tyler Formation was the only form that I don't see often in these file reports; something tells me this was an exploratory well to test the Tyler;
Eight (8) new permits
  • Operators: Whiting (3), Fidelity (2), Slawson, WPX, Bosque
  • Fields: Heart River (Stark), Stanley (Mountrail), Sanish (Mountrail), Spotted Horn (McKenzie), Dutch Henry Butte (Stark), Blue Buttes (McKenzie -- salt water disposal/Bosque)

Chevron Cash Fuels Deal Talk -- WSJ

Link here. (The link may or may not work, but googling the subject will bring you to the article. The article has been referenced throughout the day by many outlets; I saw it in the print edition to which I subscribe. The story is a good story; to see the graphic at the link says it all.)

According to the WSJ, cash on hand, after subtracting debt, in billions (rounded):
  • CVX: $11
  • XOM: $2
  • OXY: -$3
  • EOG: -$5
  • Hess: -$7
  • CHK: -$14
  • COP: -$26
All that cash suggests CVX is getting ready to make an acquisition.

Forbes columnist suggests three possibilities, including CLR (all) and CHK's Permian acreage.

Motley Fool: CHK, Hess.

History of Mergers and Acquisitions During the Bakken Boom

This is just a place holder for now. This page is under construction; as such there are errors, omissions. 

Disclaimer: this is not an investment site. This is here for archival purposes only.

Abraxas - NRP, June 17, 2013; 13,500 net acres for $35 million cash

WLL up for sale?, September 14, 2012

Chevron cash fuels talk of deal, WSJ, August 28, 2012

XOM - DNR, September 20, 2012
  • Encore --> DNR --> XOM
QEP - Helis/Black Hills Corp/Sandance/Unit Corp
  • Announced August 24, 2012
  • $1.38 billion
  • 27,600 acres; little else
  • $20,000 - $40,000/acre
Halcon - GEOI
  • announced April 25, 2012
  • $1 billion
  • 46,000 acres (based on my data which may be incorrect)
  • $1 billion/46,000 --> $22,000/acre but there were producing assets, other assets; thus lowering this number
  • HK paid $20 cash + 1.932 of its shares for each GEOI share; valued the company at $38/share; a 23% premium on day of announcement
  • after announcement, GEOI rose > 18% to an all-time high of $36.41
  • GEOI has been publicly trading since the late 1970s
VOG - Emerald Oil
  • announced July 11, 2012
  • VOG acquires Emerald Oil; will operate as Emerald Oil
Statoil - BEXP
  • all assets
Hess - Tracker, American Energy (AEZ)
  • all assets
  • American Oil and Gas: 85,000 acres to the deal
  • Tracker: 167,000 acres to the deal
Eternal Energy - American Eagle
  • Eternal Energy merges with American Eagle, together a $37 million company
OXY USA - Anschutz


Magnum Hunter - Baytex
  • Baytex sells 50,400 net Bakken acreage to Magnum Hunter
KOG - North Plains
  • 50,000 net acres
MDU (Fidelity) - Oasis
  • MDU sells some of its acreage to Oasis; much of it in MDU's Cottonwood field
  • announced December, 2009
  • $41 billion deal
  • not quite similar to others among the Bakken deals (see first comment below)
  • a natural gas play
  • XTO's assets in the Bakken just a small part of XTO's overall assets
XTO - Headington
  • in 2007 time-frame (see comments)
  • $1.9 billion
  • XTO buys Headington assets in Montana and North Dakota Bakken
WPX buys 7% of the reservation

Ceramics Source for the Bakken; Out of Glendive, MT

I was sent the following information. I have no ties with the company and am not receiving any compensation. I post this simply as part of the stated purpose of the blog: information sharing. There is no hidden agenda. Periodically I get queries from truckers asking about possible work; I assume this could be such a lead.

I know nothing more about the company than what is being posted, and what I have learned by visiting the website.

Fores is currently the 2nd largest ceramic producer in the world with over 2,000 employees globally, and the industry leader in Russia by measure of volume of proppants delivered. They manufacture and sell ceramic proppants throughout North America, and are currently supplying service companies in the Bakken Shale via transload facility in Glendive, Montana. You can learn more about Fores at ceramic proppant.

The ceramic proppants are, of course, ISO 9001 certified, and available in 20/30 and 30/50 sizes with resin or non-resin coating.

You can contact Fores at 832-308-7623, or visit us online at the link above.


One of the reasons this note caught my eye(s) was the mention of Glendive, MT. Glendive is another city for which I have a warm spot. Sometimes when I go back to Williston, I fly into Billings, rent from Enterprise, and then drive to Williston. It's a beautiful drive.  When one gets to Glendive, one has lunch at McDonald's (with wi-fi) and then leaves the interstate to head northeast to Williston. It's a great drive, and great scenery. It's about a hundred miles from Glendive to Williston (corrected from earlier version).

According to the website, it looks like there may be two Fores transloading facilities in North Dakota, Lansford and Mohall. This is the second time in about as many weeks that I have seen "Lansford" mentioned in regard to the Bakken.  Lansford and Mohall are northwest of Minot.

Crude-By-Rail Facilitiy in Southwest North Dakota Expanding (Dickinson)


March 15, 2013: Reuters video. Sent in by reader. A must-watch.

Original Post

While traveling yesterday, Don alerted me to this great story, about the Dickinson crude-by-rail facility expanding.

There are two reasons why this article excited me. First, the expansion itself; an incredible story. Second, the article states there are sixteen crude-by-rail facilities in North Dakota; that matches what I have in my list linked at the sidebar at the right, under "Top Ten Lists."
Bakken Oil Express Terminal Manager, Chris Lewis, says "we are at train 150, just shipped out this morning."
Here at Bakken Oil Express west of Dickinson, 150 trucks a day are hauling in black gold from western North Dakota's oil patch.

They bring in about 60,000 barrels of oil a day. 

It takes 58 minutes to fill each car -- the loading facility can load 12 cars at a time and fill an entire train with 104 tanks in less than 14 hours.

Lewis says, "BOE's roughly shipped already 10 million Barrels of oil out of ND. 

Bakken Oil Express loaded it's first rail car in November, and has been expanding ever since.

Two additional storage tanks that can hold 105,000 barrels of oil are under construction.

Lewis is looking to double his staff, allowing the facility to run 24 hours a day.

"We'll be the #1 shipper I'm sure," says Lewis.
Go to the link for the full story. Links to regional stories seem to break early and break often. 

Chariots on Fire? Apprently Sales Are Not On Fire; GM To Match Production With Demand

... by shutting down Volt assembly lines for a month or so. Apparently this has not been announced, but there are rumors and there are stories. This is one of those stories.
General Motors, the largest U.S. automaker, is planning to stop production for about four weeks in September and October at the factory that makes Chevrolet Volt cars, two people familiar with the plan said.

Sales of the plug-in hybrid sedan haven’t met Chief Executive Officer Dan Akerson’s projections this year. Through July, GM sold 10,666 Volts in the U.S., according to researcher Autodata Corp. Akerson had aimed for sales of 60,000 globally, of which 45,000 would be delivered in the U.S. In June he said sales would probably total 35,000 to 40,000.
It should be a great second half for GM's Volt if they can finish the year with 40,000 delivered (sold?) by the end of the year, having sold just 11,000 the first half. 

I have to thank the politicians for helping me read some statements more closely, as in "delivered," versus "sold."

Undervalued Bakken Stocks

Disclaimer: this is not an investment site. See disclaimer at welcome post, linked at the sidebar at the right.

I have to chuckle. Just after the announcement of the QEP deal, I said the same thing: undervalued Bakken stocks following the QEP - Helis/Black Hills Corp/Sundance/Unit Corp deal; immediately someone wrote to ask me, "so what is NOG worth now?" You can see that back in the comments. Well, now the answers to that question are coming in from "professional" sources and from investment site links. (Again, this is not an investment site.)

This is a typical column, this one from Reuters:
Oasis Petroleum's Bakken leasehold is valued at about $3,100 per net acre, while Northern Oil's is just $400, said SunTrust Robinson Humphrey analyst Neal Dingmann.

However that has changed since QEP Resources Inc paid about $50,000 per net acre in a $1.4 billion deal to expand its presence in North Dakota.

Shares of all the Bakken operators have risen since the QEP deal was announced on Thursday.
A big "thank you" to Mike for alerting me to this story.

Mike Filloon also weighs in: says QEP paid a "fair" price for the acreage, at SeekingAlpha.com.
The initial announcement named Unit Corporation and Black Hills Exploration and Production as the non-operated sellers. Unit Corp will reportedly get $268 million and Black Hills $243 million for 85% of its Bakken/Three Forks acreage. The third and most important seller is Helis which operates the acreage. Helis will receive an estimated $869 million for its part of the leasehold. It operates the 73 gross wells and 27,600 net lease acres. At the end of the second quarter, this leasehold produced 149 thousand barrels of oil and 171 thousand Mcf of natural gas.

This purchase looks to have a very large premium to other deals in the Bakken. Much of this price was paid for infrastructure and current production, which makes the deal look larger from an acreage standpoint.

In my opinion, this acreage was by no means cheap, but given its core is prime acreage, it does deserve a premium. There have been several estimates as to the price per acre. This can be difficult to calculate given leasehold infrastructure, but this plus daily production places the core acreage in the $19000/acre range. The non-core acreage sold for roughly $12,000/acre. QEP has been vocal for some time it was interested in adding to its Williston Basin leasehold. 
Much, much more from Mike; visit the link. 

Mike says this could be the beginning of a new Bakken land grab. If I get caught up, I will post some thoughts on that.

Tuesday Morning Links; Several Nice Wells; Three Incredible Strobeck Wells (BEXP); New Permits Continue to Impress

I'm back. Sort of. I don't have my databases or bookmarks because I don't have my trusty laptop. I left that with my wife for a few weeks. It will take awhile to get back up to speed.

I brought the granddaughters back to Boston; it was a nice trip. My wife will join us in a couple of weeks. She enjoys California and deserves a rest after all the work she did entertaining the rest of us. It was quite a month. Maybe more on that later. I know how much Chester enjoys reading about my non-Bakken activities.


First the all-important energy links:
Mike Filloon weighs in with two articles on the Bakken:
Northeast McKenzie County is the heart of the Bakken. It is where Bakken activity is moving to; I suggested some time ago that 2012 would be the year operators would be focusing on McKenzie County after quite a run in Mountrail. Watford City is the operations center for northeast McKenzie County.
Daily Williston Basin Operations Report

Active rigs: 190 (two above the recent low)

I posted the results of the wells that came off the confidential list over the weekend and Monday, earlier.

In addition to those wells, the following producing wells reported their results:
  • 12840, RM Resources/Texaco/old Anschutz well; drilled back in 1990; Bakken well; IP, 6; cum 5K; now converted to salt water disposal
  • 19878, 188, KOG/North Plains, Holland 9-19H, Bakken, wildcat, t7/12; cum --
  • 20143, 1,794, XTO, FBIR Lawrence 24X-26, Heart Butte, t5/12; cum 31K 6/12;
  • 21178, 776, CLR, Lokken 4-2H, Stoneview, t5/12; cum 29K 6/12;
  • 21621, 2,551, BEXP, Strobeck 27-34 6H, Alger, t7/12; cum --
  • 21622, 2,020, BEXP, Strobeck 27-34 7H, Alger, t7/12; cum --
  • 21623, 2,071, BEXP, Strobeck 27-34 8TFH, Alger, t7/12; cum --
  • 21673, 23, SM Energy, Bogner 13-20H, wildcat, t7/12; cum --
  • 21739, 633, Zavanna, Kepner 9-4 1H, Glass Bluff, t7/12; cum --
  • 21878, 1,754, BEXP, Groethe 27-34 1H, Squires, t6/12; cum 14K 6/12;
  • 22295, 1,187, Whiting, Pennington 41-4H, Sanish, t7/12; cum -- 
Thirteen (13) new permits issued yesterday (Monday), continuing a string of several days of two-digit number of new permits
  • Operators:  BEXP (7), Abraxas (4), Helis, GMX Resources
  • Fields: Bennett Creek (McKenzie), Painted Woods (Williams), Grail (McKenzie), Pershing (McKenzie)
The BEXP permits are all in Painted Woods, and four of them will be TF wells. It looks like these will be two 4-well pads in NWNE quadrant of section 26-154-103. BEXP already has one producing well in this section:
  • 18906, 2,640, BEXP, Michael Owan 26-35 1H, Painted Woods, t7/10; cum 116K 6/12;
There is also another well in this section on the confidential list; it appears to be a salt water disposal well.

The three Pershing field permits belong to Abraxas. I haven't done a stand-alone post on Pershing (yet), but it is in the heart of the Bakken, not far from where QEP just acquired 27,600 acres for $30,000 - $40,000/acre.