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Tuesday, June 5, 2012

Whiting Has a New Corporate Presentation

The presentation includes a "new" slide: the sweet spots in the Bakken, slide 18.

In one sense, the "Bakken sweet spot" slide doesn't provide anything we didn't already know: some spots are better than others. But in another sense, I am somewhat surprised: there are a lot more sweet spots than I would have thought. A lot more. But they are discreet, which again, in a continuous reservoir, is counter-intuitive.

The presentation includes Sanish Field area gathering system and Robinson Lake gas plant -- slide 21.

The presentation includes Pronghorn Field area gathering system and Belfield gas plant -- slide 22: note -- Whiting is calling their Pronghorn Prospect the "Pronghorn Field" which has been noted earlier. NDIC will address this nomenclature, if I recall correctly. There is an NDIC-designated Pronghorn oil field near Alexander/Watford City, in McKenzie County.

The proposed pipeline parallel to and well south of I-94 is of special interest. This is where Chesapeake controls a lot of acreage.

Slide 23 shows up to 1.292 million bbls of takeaway capacity by the end of 2013. Whiting suggests we have 1.102 million bbls of takeaway capacity by the end of 2012. Currently, "we" have 690,000 bbls takeaway capacity.