About a month ago I had a stand-alone post updating Legacy Oil and Gas activity in which the company noted they planned to extend their Spearfish play into Bottineau County.
Since then, I haven't heard anything new. Legacy has seven permits in North Dakota. They are all on the confidential list; one has a rig on site; five have release dates from the confidential list. (Updated, corrected after getting first comment below.)
Someone wrote in asking if I knew of any activity with regard to Legacy Oil and Gas in Bottineau County, such as building pads, etc. I did not, but I said I would see if anyone has any information. Thank you in advance.
Bruce,
ReplyDeleteRecheck the legacy permits on the confidential list. there should be five or so with release dates... I believe they have a rig drilling now in bott county
You are correct, my mistake. Thank you for catching that. No excuse on my part. I looked at the wrong page. Sorry. I hope I didn't cause any undue stress. I will update the post later.
ReplyDeleteis there anyway way to find out if cirque has aquired anymore acreage,,, I know they sold there holdings in northern nd.,and its been quite for them ever since,,even tried calling them,,, with no luck of an ansewer,,trying to find out if they sold their lease holdings also
ReplyDeleteLegacy is targeting the same play that eog tested last year and that eog's canada subsidary and others are very active in just across the int border. Legacy's spearfish bot cty acreage is adjoining and east of eog's. The legacy position is shown in some detail on their investor presentation. What I find interesting is that Legacy according to their statements is still active even after eog expressed marginal to non economic results. I believe what is needed is a different frac design. There is oil in the spearfish but current frac designs go into a water bearing zone just below the oil and produce too much water for the amount of oil released. EOG has other (bakken and texas )prospects that look much more promising with economics that are easier to economically justify than the spearfish in bottineau cty so it may be up to a smaller operator to unlock this potential.
ReplyDeleteWith regard to weslink's question about Cirque, I don't know the answer. It does appear to me that OXY bought all Cirque assets in North Dakota but no definitive proof. Here is what I last wrote about Cirque:
ReplyDeletehttp://milliondollarway.blogspot.com/2011/02/dimond-field-update-bakken-north-dakota.html
With regard to explanation about "...a water bearing zone just below the oil and produce too much water for oil to be released."
ReplyDeleteTwo years ago I would not have understood what was being said, but after doing this blog for two years, almost non-stop, I really understand exactly what you are saying.
And, yes, I agree, a smaller company with more on the line may be more successful in cracking the code in the North Dakota Spearfish. I sure hope so.