More Than Just The Bakken in the Bakken -- North Dakota, USA

Link here.

Magellan Petroleum Corp., Portland, Maine, has signed a letter of intent with Vaalco Energy Inc., Houston, to begin developing the Bakken formation and deeper horizons in the East Poplar Unit and Northwest Poplar field in Roosevelt County, Montana.

This is an old story (July 18, 2011). I thought I had posted it, but if I have, I cannot locate it, so here it is (again?).

This is what I find most interesting about the story and why I wanted to make sure I posted it:

Magellan will retain its current ownership for all formations above the Bakken, including the currently producing Charles and Tyler formations.

Magellan said the partnership with Vaalco is another step, with a strong and experienced partner, toward monetizing the asset not only from the Bakken but also from the Three Forks, Red River, and associated deeper formations.

Reading between the lines of the CHK conference call transcript, I am thinking that CHK may be thinking the same thing.