Friday, July 15, 2011

Michael Filloon -- Seeking Alpha -- With Great Overview of All the Smaller Producers in the Bakken, North Dakota, USA

Michael Filloon has a great overview of the smaller producers in the Bakken.

Mentioned: GMXR, SSN, Triangle, Abraxas, US Energy, Voyager, Sundance, Credo, Arsenal Earthstone, and Stetson Oil.

It is THE list. I hadn't seen Stetson mentioned anywhere in the longest time. See a October 25, 2009, posting, where I mentioned Stetson:
18212: Dry. MHA 1-11H-148-90; Reported 10/16/09. One of the very few dry wells in current boom. [Operational update, Feb 18, 2010: a pump was put on this well; they are sure they are in the Bakken; 1,470 bbls of oil to date, as well as 34,000 bbls of water. Remember it takes trucks, personnel and money to transport water away from a well. It appears this well is not economic. (1,470 * $60 = $88,000 after four months for a well that cost $6 million to drill.)] On March 5, 2010, reported 50 bopd after workover -- still not all that great. No production since June, 2010; probably shut in.
Filloon references this $3 million well that was drilled in the reservation near some of the best Bakken sites, and it came  up very, very wet. Water.

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