Saturday, November 27, 2010

Strategic Focus -- Whiting, EOG and the Bakken -- North Dakota, USA

The Parshall oil field and the Sanish oil, lying beside each other, and about the same size, are arguably the most active, the most prolific fields in the Bakken. 

The Parshall oil field is "owned" by EOG.

The Sanish oil field is "owned" by Whiting.

There is one rig in the Parshall oil field (but just barely; it's right on the border) and it's not an EOG well. It's a Hunt well.

There are nine rigs in the Sanish, and my hunch is they are all Whiting wells.

In addition, the two companies are exploiting the Bakken differently, although they both have about the same number of rigs in North Dakota. WLL has 15 rigs; EOG has 11 rigs. 

Then scroll down at this thread to read David's comments.

Then read this "shellacking" of EOG.

Meanwhile, WLL's earnings soar.

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