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Tuesday, August 9, 2011

Bakken Companies Reporting Today -- Production Records Being Set -- Bakken, North Dakota, USA

USEG reports, 2Q11.

GEOI reports, 2Q11.

NOG reports, 2Q11: sales up 200% year-over-year; production volumes rose 130% year-over-year, and 12% over previous quarter (1Q11). These are incredible results considering the flooding in North Dakota this quarter. Remember how we all thought production was going to be severely impacted this quarter?

VOG reports, 2Q11: production doubled, year-over-year.

Remember: earnings for all Bakken companies at "Earnings Central" linked at the sidebar on the right.

Michael Filloon weighs in on many of the Bakken stocks

In addition to whatever Michael Filloon writes, some random observations:

1. NOG partnered with one of the premier operators in the Bakken: Slawson.
  • Mustang 1-22H, 1,829
  • Alamo 2-19-18H, 1,287
  • Diamondback 2-21H, 1,909
  • Cruiser 2-16-9H, 1,115
  • Hunter 1-8-17H, 1,668
2.  How much are the accrued costs for a boe for NOG? $5.94/boe in 2Q11; it was $5.24/boe in 1Q11; and $3.30/boe in 2Q10. NOG says "the increase in production expense is primarily due to lower production volumes due to heavy rain, flooding and road restrictions, the continued addition of producing oil and gas properties, exposure to new operators and new development areas, an increase in working interests, mature wells utilizing artificial lift and the general aging of production." Not necessarily in that order, I assume.

3.