Could Bakken-centric companies be undervalued?
MillionDollarWay has been identified as a fraudulent site; I've notified Norton but something tells me it fell on deaf (or Bangladeshi) ears
Daily production now over 609,000 bopd in North Dakota
Rangeland ships first Bakken crude from rail terminal
North Dakota tax receipts setting records; Williston surpassed Fargo by $100 million for 4Q11.
Updating the list of fracking companies in North Dakota
Seismic survey covering 1,000 square miles of the reservation to commence
More crew camps for Dunn County
Hotel boom in the North Dakota oil patch
Williston wireline: 2,000 more rail tankers to the oil patch; FEMA trailers to the oil patch; Montana native to head COP
Great to be able to read this blog today.
ReplyDeleteTHANKS
You ave very welcome. We will see how it goes.
DeleteYou ave very welcome. We will see how it goes.
DeleteHello! So happy to see you again! Hope all will stay good for you! Pronghorn Federal 21-13 TFH Park off condfidential list 06/17. It was offline, I believe a few times last March/April? As much work was done in the area, also they put the pump on. I am hoping production is higher for May/June. Again glad you are back! Jeremy
DeleteI am back, and posting more than ever. Yes, I posted the results a couple of times regarding this Whiting well. I'm sure Whiting wants to get max production out of this "signature" well.
DeleteOops! My bad! When I got back on your site, I did not go back far enough in the older posts to see you wrote on PF 21-13. Subject change: NBA! Even though I am a Lakers fan, I wanted desperately for OKC to win. I am also one of those anti-Heat fans. It won't kill me that the Heat are going to win. However, don't be surprised if you hear reports of a wild bushy haired man running through the Park-Bakken in nothing but camouflaged underwear. Swinging from pump to pump, screaming the Tarzan signature yell, and, oh yes, wearing a T shirt that says "Got Jane?" Jeremy
DeleteI can't even remember what I've blogged about/what I've posted.
DeleteI agree 100% with you re: OKC. Wow, I wish they would win, but it doesn't look good. But you have to give the organization a lot of credit for putting together such a great team -- this is OKC, not Chicago, NYC, LA, Dallas, it's really impressive. It's not as if OKC is a world-class city.
I can't remember what I post, but over time so much posting, gives me an idea of the big picture, and I think "big picture" stuff is important.
For example, stumbling on the BTA natural gas well this past week, and learning the the Bakken is "wet" gas rich adds a whole new dimension to what's going on. I am a broken record when it comes to ONEOK but they really did their homework -- stole this opportunity right from under MDU's nose.
So, in the past few weeks, we have added Whiting's Pronghorn Prospect, now the "wet" gas potential, and folks are starting to notice something going on with OXY (maybe nothing will pan out) but it is tantalizing.
And almost everything I get/post is provided by readers.
Thank you for taking time to comment. And go OKC (isn't that Derek Fisher something? He has been around forever, and just keeps going. Who would have thought?)
Yes, OKC did great. They have no reason to hang their heads if they lose. They'll be back a few times, that is for sure. Just hope my Lakers can squeeze one more in, as OKC might rule the West for sometime. Fisher is great. Not every aging star has the ability to turn their lack of speed, quickness, loss of athleticism into a plus, like Fisher. What I mean is they are smart enough to know what to and when to do it, where to be, and how to move as a wiley vet on the floor. Speaking of the wet gas, when I got my first check in June 2012, I realized that PF 21-13 must be producing it also. As my stub said O=oil, G=gas, and CN=condensate. I did not expect to see CN. Unless, I am mistaken, and its not the wet gas you are referring to. As they drill more in my 2 sections the next few years, it will be interesting to see how production goes with all 3, O G CN. PF 21-11, which will be right next to PF 21-13 starts in 10/2012. Amazing. Jeremy
DeleteYes, I believe you are correct: CN (condensate) does not include "wet" gas based one several posts of the past few days.
DeleteIn FAQs, a long time ago, I wrote, regarding royalty statements:
"O" for oil. "G" for natural gas. "P" for plant products. As the gas is processed and purified for transportation, by products like natural gas condensate, sulfur, ethane, and natural gas liquids like butane, propane, isobutane, and pentanes are produced and sold. Source. On some royalty checks "P" will be abbreviated at "PPROD."
So, it appears that different companies break out different revenue streams differently, with different acronyms or abbreviations. It will be interesting if companies are consistent with three revenue streams (but different acronyms/abbreviations) or if it's possible you will see four revenue streams sometime down the road.
And with regard to OKC and Fisher, I agree. Experience vs age.
Happy uou are back :-)
ReplyDeleteThank you. It was a busy weekend.
DeleteI was really energized by the list of BEXP wells and the Whiting Pronghorn well.
Bruce...Maybe you can give me some insite on whats going on with a well I have a shared interest...We hold a little over 120 acres in this drilling unit....It is a EOG Resources well #19778...It was spud on 7-26-11 and has been pumping since November of 2011...They have pumped over 57000 barrels but we have never heard anything from them...Its soon to be a year...Is there a chance you can shed some light on the situation...John
ReplyDeleteI don't own minerals so I have had no experience with leases, division orders, or royalties.
DeleteAt the top of my blog I have a tab, "Mineral Rights" which will take you to a number of sites that might be helpful. One suggested site:
http://www.mineralrightsforum.com/
The folks over at the Bakken Shale Discussion Group might be able to help, but whatever you do, don't mention this site/blog: you will be kicked off. Just ask your question.
The well you reference came off the confidential list on May 8. From reading the Bakken Shale Discussion Group, it has been my impression that you won't get your first royalty payment for three to four months after a well comes of the confidential list or after completion, whichever applies.
The companies have 180 days to start paying royalties; after that they are assessed an interest rate penalty, unless they have "legitimate" reason for delay in payments. I have not heard of any cases in which interest payments/penalties have been paid.
I would not call them. These companies are very, very busy. I would type a short letter, copy and fax it, and send the original through the mail.
take it for what it's worth, but according to Business Insider, Williston will be one of the top 15 "cool" cities to live in...
ReplyDeletehttp://www.businessinsider.com/up-and-coming-cities-2012-6?op=1
It will be "cool." In February, a bit more than "cool."
DeleteSeriously, I wrote a private note to a developer about the potential. It was so "far out there" I would not want to put it in front of the public. Smile.
I assume the oil industry is a young person's industry -- I don't know how accurate that it, because experience is incredibly important, but ...
And if it's a young person's industry, leisure/entertainment opportunities are there for the entrepreneurs. So, we'll see.