Does This Suggest Alberta Bakken Not Yet Ready For Prime Time? -- Rosetta To Concentrate on Eagle Ford

Link here.

Rosetta Resources has been one of the more well-known players in the Alberta Bakken, northwestern Montana.

Rosetta says it will focus on Eagle Ford in Texas:

Rosetta Resources Inc. today announced its Board of Directors has approved a 2012 capital budget of $640 million. Approximately $590 million, or more than 90 percent, will be spent for activities in the liquids-rich window of the Eagle Ford shale in South Texas, the largest producing area in the Company's portfolio.

The 2012 budget allocates approximately five percent of funds for evaluation of the Southern Alberta Basin.

Rosetta continues to implement the previously announced seven-well horizontal drilling program to test the economic potential in the Banff, Bakken, and Three Forks reservoirs across its approximately 300,000 net acre position in northwestern Montana.

To date, Rosetta has successfully drilled four of the seven horizontal wells with the remaining three scheduled to be drilled in early 2012. Two of the four wells drilled to date have been completed in the Middle Bakken and have tested at stabilized rates of 154 barrels of oil equivalent per day and 104 boepd. Completion operations continue on the third well. The remaining four horizontal completions will be tested during the first half of 2012.

100 boepd is not impressive.

The southern Alberta Bakken does not appear ready for prime time, a bit like the Niobrara. The Bakken and the Eagle Ford appear to be the major focus right now.