Even though Enerplus committed another $50 million to fund its Bakken operations, it cut its "two least efficient operated drilling rigs" and will run just two for the remainder of the year. It also raised its production forecast for the second time in three months on growing volumes from Fort Berthold and expects to average 83,500 barrels of oil equivalent a day in 2012.The linked story if full of updated data.
The $2.8-billion TSX-listed company acknowledged it's managing spending in the rest of its operations in North America to offset higher Bakken spending. It is not as if all the spending in the Bakken is even its idea.
Enerplus said its "non-operated activity has also increased significantly as our partners are drilling more than we originally anticipated."
As producers climb over each other to get a piece of the windfall more than 3,000 wells will be drilled in North Dakota this year.
Wednesday, August 22, 2012
Human Interest: Calgary Herald Looks At The Williston Basin Bakken
Link here.
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What do you think "non-operated activity has also increased significantly as our partners are drilling more than we originally anticipated." means. They have the permit to drill in the 150 94 29/32 unit, but my wife's lease is to EOG. I would sure like EOG to do the drilling!!!!
ReplyDeleteDon't hold me to this, I may have it completely backwards (I don't own mineral rights so I don't watch this closely, but I do follow leases/permits for others).
ReplyDeleteBut this sounds like how it works:
By "they," I assume you mean ERF. If so, if ERF has the permit to drill, I assume they are the ones that will be doing the drilling. I wouldn't think that the state would grant a certain company the permit to drill, and then let the company allow another company to drill. The state would want to grant permits to companies they "know" and "approve."
But I could be wrong. The folks over at the Bakken Shale Discussion Group would know for sure, but don't mention this website if you post over there. They don't appreciate this website.
I've seen that before about Bakken Shale Discussion Group - I guess I don't understand the issue!! I have learned a ton reading this site AND the discussion group. I for one appreciate your blog!!!
ReplyDeleteIt's a long story; I think I've discussed it before. Yes, I agree with you. I've learned a lot from the Bakken Shale Discussion Group.
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