NOG: Unique Business Model in the Bakken -- Bakken, North Dakota, USA

Link here.

This is not news to those who follow the Bakken: NOG has a unique business plan. They were early into the Bakken and bought up mineral acres before the boom took off.

They don't drill but they participate with other drillers.

And that's the advantage NOG has. It has now grown large enough that it can participate in more wells, but more importantly, it now knows with better accuracy which areas are better for drilling. They can choose to what level they want to participate, or if they want to participate at all.

NOG partners with more than 20 operators in the Bakken, and thus have gained extensive knowledge about the Bakken, as well as sitting in on meetings with 20 of the best Bakken operators.

So, what does that experience / advantage get them (numbers rounded):

• 49% working interest in Bighorn 1-6H, Sinclair, with an IP of 1,218
• 40% working interest in Mustang 1-22H, Slawson, with an IP of 1,829
• 30% working interest in Alamo 2-19-18H, Slawson, with an IP of 1,287
• 29% working interest in Porcupine 1-19H, Sinclair, with an IP of 1,531

Pending:

• 76% working interest in Probe 1-19-30H, Slawson
• 57% working interest in Knudsvig 12-1-160-100H 1PB, Baytex
• 55% working interest in Highland 2-9H, Sinclair
• 50% working interest in Rose 14799-28-2H, Conoco Phillips
• 47% working interest in Lori 18-19H, Fidelity
• and the list is 54 wells long.