Friday, February 24, 2012

Random Comment on CLR Bakken Acreage -- Nearing the 1 Million Mark Milestone

4Q11: per Harold Hamm -- 915,863 net acres; does not include the 35,178 net acres acquired in February, 2012.
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5 comments:

  1. Hess has more Bakken acres in North Dakota than Continental Resources.

    Hess 684

    ReplyDelete
    Replies
    1. In Hess' corporate presentation back in September, the number of Bakken acres was listed as "~900,000 acres."

      I have not seen a newer number; I tried accessing the slides for the 4Q11 results but the slides were not yet available -- the audio was there, but not the slides. So, I will watch for the next corporate presentation.

      The ~900,000 acres for Hess are all in North Dakota (I believe), whereas some of the 950,000 CLR acres are in Montana, so yes, Hess would have more net acres in ND than CLR.

      No one wants to overpay for acreage, but my hunch is that an operator close to 1 million acres would like to be able to say "we" have a million acres in the Bakken.

      I think CLR has about 24 rigs in the Bakken; Hess has 16.

      Delete
  2. In Q3 2011 CLR held 901,000 Bakken acres of which 649,000 were in North Dakota. If we assume all 50,000 Bakken acres they've added since then are in ND, they now hold about 700,000 North Dakota Bakken acres. CLR Bakken production Q3 2011 (ND and MT) was 34,000 BOEPD.

    Hess has over 900,000 Bakken acres in North Dakota and exited 2011 with ND Bakken production of 50,000 BOEPD.

    Hess684

    ReplyDelete
  3. Are you guys including CLR Red River acres? When you combine all their WB production CLR exited 2011 @ just over 56,000 BOEPD

    ReplyDelete
  4. I think "Hess 684" is just looking at the Bakken. Hess has been in North Dakota since 1951 and their total production would be a lot more from the Madison, Red River, etc., I assume.

    I try to keep the data updated at this site:

    http://milliondollarway.blogspot.com/2010/10/areas-of-interest-in-bakken-by-producer.html

    But you are correct: one has to be careful when comparing data points between companies.

    I try to keep up here:

    http://milliondollarway.blogspot.com/2010/10/areas-of-interest-in-bakken-by-producer.html

    But, again, it's hard to keep up, and one has to be careful what one is measuring.

    ReplyDelete

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