Officials say work is still going on in the Spearfish in Bottineau County. It's sour oil and Enbridge won't put sour oil into its pipeline system. Therefore, Spearfish oil needs to be trucked to Canada.
Spokesman: the Spearfish is about where the Bakken was back in 2005. Some say EOG has re-deployed its assets to the Wyoming Niobrara and the Texas Eagle Ford -- which makes a lot of sense. EOG got shellacked in 3Q10 earnings. Need to get their act together.
Go to "tags" at bottom of blog to find other postings on the Spearfish, or go to the Spearfish at the sidebar at the right.
The link above will be broken in a few days; regional newspaper link.
I don't know. I'd like to be positivre but I think it is most likely that Lynn Helms is trying to walk back his optimistic comments from last summer that he made before the poor EOG Bottinau Spearfish showings became known and EOG abrutply slowed/stopped its Spearfish program. Legacy and Ritchie are doing good work and I applaud them for their efforts but they are not in the same catergory as EOG (not trying to be critical). We shall see. As I posted earlier, there is no question that there is oil in the Spearfish but how to get it out? Doesw anyone know???
ReplyDeleteVery well said: "...trying to walk back his optimistic comments..."
ReplyDeleteTime will tell. I will continue posting updates as I get them.
Thank you very much for your comments. Love to hear from folks.