Updated Posts -- The Bakken, North Dakota, USA

Update

August 17, 2012: someday, maybe someday, someone can explain Baytex wells to me. 

How incredible. This morning, with absolutely nothing else to do, I drilled down into the Ambrose, West Ambrose, and Blooming Prairie fields. Just as I was completing the post, looking to find some news, this is what I found: SeekingAlpha.com, dated January 2, 2012: Review, 7 Dividend Paying Canadian Oil & Gas Equities. I guess great minds think alike. And just before that, the only new post at Teegue's discussion group was from "ambrosegirl." Wow.

The seven Canadian equities reviewed in link above: Baytex, Cenovus, Enbridge, Enerplus, Pengrowth, Provident, and Penn West. The best performing in 2011, ENB, with a 30% gain. Third best was Baytex at 20%. (As usual with my site, many numbers are rounded.)

From Minyanville, eight (8) energy stocks that pay out. 

From SeekingAlpha.com, five (5) monthly dividend stocks to buy and two (2) to avoid. On another note, the writer is a great analyst who replies to those who comment/ask legitimate questions. Be sure to read the comments if you go to this link.

For folks interested in this little part of the Williston Basin, you might find entertaining, this post on Kaiser-Francis, which is due to be reviewed again in February, 2012. 

Original  Post

IPs for all wells in Ambrose, West Ambrose, and Blooming Prairie oil fields have been updated.

Let's look at one of those Ambrose wells:

• 20285, 32, SM Energy/Baytex, Haugenoe 22-162-99H; s2/11; t4/11; cum 49K 11/17; 16 stages; 1.5 million lbs sand; a Three Forks shale (below Three Forks according to this well file)

Now, go back to my entry of November 10, 2009:

Five areas of significant drilling activity: a) Parshall-Sanish north of the reservation, obviously; b) the Van Hook / Big Bend areas inside the reservation, especially Slawson; c) the area immediately around Williston, especially to the west, to include eastern Montana; d) the Highway 50 Corridor: on either side of Highway 50 southeast of Kenmare, and north of Parshall, especially EOG; and e) Ambrose, a ways north of Williston. 

Ambrose-West Ambrose - Blooming Prairie has been a very, very active field considering its location, the IPs, and the relative small size of these "combined" fields. I'm not in the mood to do any greater detailed analysis, but my hunch is that this small area has been as active on a per acre basis as many other fields in the Williston Basin.

And that speaks volumes. Maybe I will come back and turn up the volume but for now will let folks think about what I might be thinking.

Oh, by the way, while enjoying coffee, etc., at the Starbucks on Harvard Square, Cambridge, I happened to see the note from "ambrosegirl" posted elsewhere. She wanted to know the update of two wells:

• 21352, 625, Resource Energy Can-Am/Samson Resources, Montclair 1-12-163-99H (practically on the Canadian border), t3/12; cum 160K 11/17;
• 21353, 614, Resource Energy Can-Am/Samson Resources, Titan 36-25-164-99H, t2/12; cum 146K 11/17;
• 20176, PNC, Titan 36-35-164-99HOR, was to be a Three Forks, never drilled; converted to SWD

Other recently completed wells:

• 20569, 68, SM Energy/Baytex, Geralyn Marie 34-163-99H 1DQ, 35K in first four months; not bad; Three Forks shale, 17 stages; 1.7 million lbs sand, t7/11; cum 210K 11/17;
• 19564, 305, SM Energy, Wolter 13-21H, West Ambrose; Three Forks, t1/11; cum 141K 11/17; 20 stages; 1.4 million lbs sand over 3 days (20 stages in 3 days)
• 19965, 642, Resource Energy Can-AM/Samson Resources, Bonneville 36-25-163-100H, West Ambrose, Three Forks,  t11/11; cum 238K 11/17; 26 stages; 2.1 million pounds sand

Interesting.

Baytex Energy Corp home page.

We are a leader in heavy oil production. We also have significant light oil resource plays ... our operations are primarily in the Western Canadian Sedimentary Basin with emerging presence in the United States.

Baytex Energy Corp. is a conventional oil and gas company engaged in the acquisition, development and production of oil and natural gas in the Western Canadian Sedimentary Basin with an emerging presence in the United States. Baytex began as a junior exploration and production company in 1993, converted to a trust in 2003 and converted back to a corporation at year-end 2010 as a result of changes to trust taxation laws in Canada.

Ticker symbol: BTE

• Market cap: $7 billion
• Div yield: 5%

Production:

• 3Q11: heavy oil, 71%; light oil, 14%

From their website:

From September 2003 through year-end 2010, we have grown our reserve base at a compound annual growth rate of 12%, to a level of 229 million barrels of oil equivalent (proved plus probable) at December 31, 2010. At the same time, we have replaced 297% of our annual production at a finding, development, and acquisition cost of $5.90 per boe, excluding changes in future development costs, resulting in a recycle ratio of 5.6x.

There is one obvious question that needs to be asked, and maybe I will explore that later.

Disclaimer: this is not an investment site. See disclaimer at top of sidebar on the right. The author of this blog is an amateur, with no formal training in anything that has to do with this blog, except perhaps a couple of college courses in chemistry. Make no investment decisions based on this blog. The blog is for entertainment and information only. And to promote my "beloved Bakken." And based on the comments I received from my "top stories of 2011" it is definitely succeeding (in the entertainment category). Some folks thought it was a joke that I would suggest that the US becoming a net exporter of oil and oil-refined products for the first time in 60 years was the top story. For some, that data point should not even be on my list. Wow.