Update
It should be noted that EOG has canceled all Scandia-named well permits or let them expire. There are no Scandia wells being drilled by EOG, and it's my impression that EOG has blown off the Spearfish for the time being.
Since the original post was posted, several exciting developments have occurred in the Spearfish formation in Bottineau County, northern North Dakota, along the Canadian border. Surge Energy (Canada) has made a huge investment in the area and two large acquisitions. Read the post below for history / archival purposes, but click on the "Spearfish" label at the bottom of the blog to go to newer posts and find out how much is going on in the Spearfish/Bottineau County. -- April 8, 2011
Original Post
I was one of the most excited about this new formation, but after some disappointing wells, there was some chatter that EOG was re-thinking its strategy on going after the Spearfish wells along the North Dakota border with Canada.
More evidence the EOG might be throwing in the towel: in today's NDIC daily activity report, it was noted that EOG canceled permit 18720, Scandia 2-26H, Lot 1 26-164N-78W, Bottineau County.
[Update: see comments below. I thought it strange that EOG would go to the bother of canceling one permit even if they were putting the Spearfish on the back burner. It is very, very seldom that one sees a single canceled permit like this in the daily activity reports.]
According to Legacy Oil and Gas presentation of January, 2011, EOG has drilled ten (10) Spearfish wells in this area.
