Update
Look how inexpensive some of these leases were -- see comments below -- $25/acre.
Original Post
In the past few weeks I have been in conversation with others regarding the margins and I have hinted at the kernel of those discussions in an earlier posting regarding the Baker Hughes "SuperSite" in Williston.
I can't go into it now, but I post this again, for the time-date stamp.
See today's story in the Minot News for comments about the Bakken pool extending farther east and farther north than accepted by general consensus. The article is in a small regional newspaper and will be seen by very, very few folks (except in hindsight). Local folks are being given a big gift with this local reporting. This may be the biggest story this month. Very, very interesting, and explains a few things.
New players are starting to drill in the margins of the Bakken-Three Forks area, said the states' top oil and gas regulator.
"There are a lot of new players coming in the Renegades, the Chesapeakes, the Devons...
"It's actually happening a little bit sooner than I thought it would be," said Helms.
"I thought we've got to get through that five years securing a leasehold time," Helms said. After that, he said he thought some of the big oil companies, naming Hess, Continental Resources and others, in the state then would move into those areas "
"Renegade Resources is really excited about this area," Helms said.
"So there are localized or maybe larger regional areas of mature source rock much lot closer to Minot straight north than [western North Dakota] ...
"The eastern edge is far from dead," Helms said.As noted above: this may be my biggest story this month.
"The Renegade well really demonstrates eastward expansion of this play into northern Ward County. It's really good news for northern Ward County and for Renville and western Bottineau (counties)," he said.
