There has always been chatter that the Three Forks formation will produce wells every bit as good as the middle Bakken, and perhaps better.
As you scroll through this site, note the outstanding Helis Three Forks wells in the Grail oil field, and the nice TFS wells being reported by Whiting.
Most of the TFS wells will be in the south/southeastern edge of the Williston Basin profile. Though somewhat dated, this article will help bring you up to speed on formations in the Williston Basin. For those serious about the North Dakota oil and gas industry, the link should be bookmarked.
Oasis petroleum ( ticker oas ) is talking very favorable about the TFS in the North cottonwood field..( this is North of the Parshall, and Sanish field )
ReplyDeleteThey are also doing TFS test wells in Mckenzie, and Williams county this year..looks like the TFS might be almost as good as the Bakken..
It's funny; the geologists have been saying it all along, and folks have pointed it out in conference calls, but it gets little notice ... until now.
DeleteWhat do these places have in common? North Cottonwood; Bell Field? Grail oil field. They are on the perimeter of the Bakken. In the south/southeastern are, it was called the "TFS pinchout." But North Cottonwood is the northeastern perimeter. It will be interesting if Divide County has a TFS play.
Grail is just south of the heart of the Bakken, but it is in the far southeast corner of Dunn county, I believe.
In divide county i would look at Contential resources ( CLR ) for info. The are one of the most active drillers in that county.. Hiland, ( mainly owned by Harold Hamm built a big NG plant near crosby about 3 years ago..
ReplyDeleteDid you see the rumor that CLR has bought CHK's assets in southwest ND? Posted earlier. I would think that this would have to have been announced, if true, since both are public companies. Perhaps, the rumor is ahead of the announced closing? It would be fantastic for all involved. It almost sounds too good to be true:
DeleteCHK exits with some cash.
CLR goes over the million-acre milestone in the Bakken.
Mineral owners see "hope and change."
If not material, it needs not be announced.
ReplyDeleteBoth are in OKC.
The rumor would be easy to invent.
CLR wants to grab WB land. CHK hasn't mentioned the WB lately.
Anon 1
Thank you, I learned something (or was reminded of something I should have known): if not material, it would not require announcement.
ReplyDeleteI had forgotten (or didn't know) that both were now in OKC.
But yes, the rumor would be very easy to invest. But it certainly adds to the excitement of the Bakken (as if I needed any more reasons to be excited).
It seems to me that CLR has backed off on earlier estimates of how much development work they would be doing by now. I thought their rig count would be back to around 23 by now. They are down to 17 today.
ReplyDeleteDoes it mean when they are offering senior notes they are raising cash? If so it looks like they are trying to raise around $2 Billion. Go to the investment tab on their web site and see what they are talking about. If they are raising money and scaling back on field operations something is going on? They must want to buy something.
It was discussed in their conference call which I linked at Earnings Central, 2Q12, at the sidebar at the right.
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