Friday, February 3, 2012

Random Snapshot of Data Points for MRO in The Bakken -- Look at BOEPD Increase Year-Over-Year

Random note, a snapshot -- see link for most of the companies operating in the Bakken.


MRO (Marathon Oil)

  • Early 2012: 406,000 acres in the Bakken
  • 2011: 391,000 acres in the Bakken
  • 375,000 acres in the Bakken (SeekingAlpha, June 27, 2011) 
  • Operating 6 rigs; up to 7 rigs in 2Q12
  • Odysseus: north, Divide County (no longer shows up on presentation)
  • Cassandra: east of Williston (no longer shows up on presentation)
  • Cazador: just north of the reservation in the Nesson anticline
  • Myrmidon: northwest corner of the reservation
  • Marfa: MRO's largest area; southwest of the reservation; borders the reservation, Dunn County -- Marfa DOES NOT show up on most recent presentation
  • Hector: eastern area of Marfa, just outside of the reservation, Dunn County
  • Ajax: continuation of Marfa, southwest of Marfa, Dunn County
  • Blacktail: very, very small area west of Ajax (no longer shows up in presentation)
  • Paris: west of Marfa, in Williams County, about same size as Ajax
  • Diomedes: northwest Williams and eastern Montana (Sheridan County) (new)
  • Menelaus: very small prospect in west central McKenzie (new)
  • Aeneas: northwest corner of McLean, east of river (new)
  • Helen: very small, scattered acres north of Hector (Helen)
  • Elk Creek: very small, scattered acres west of Helen (new)
  • Analyst's number: 365,000 net acres (December 31, 2010) 
  • 2011 average boepd: 24,000
  • 2010 average boepd: 10,000
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2 comments:

  1. AnonymousFebruary 3, 2012 at 6:10 PM

    The Diomedes area (NW area in ND and Sheridan County) will be interesting to watch as this is somewhat unexplored territory. Several good wells in the area will prompt the MT area for much more activity.

    ReplyDelete
    Replies
    1. Bruce OksolFebruary 3, 2012 at 6:56 PM

      Thank you for taking time to comment. You know, I put up some of these random posts, never really knowing if anyone actually bothers to read them, so I appreciate the feedback.

      There are days when I think the operators are still really learning what the Williston Basin is all about.

      I just finished another biography of Hemingway, really all about his days fishing in the "Stream." Hemingway kept looking for bigger and bigger fish; he once said that he was concerned that the 500-pound Marlins were small compared to what was really down there. It drove him crazy to think there were 1,000-pound fish to be caught and that's why he went out, day after day.

      And I think that's true of oil men. They keep drilling, hoping for that 1,000-pound Marlin. (According to Wiki, Marlins can get up to 1,800 pounds, so maybe my numbers are off, but you get the point.)

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