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Tuesday, August 7, 2012

Wednesday LInks; Whiting With Two Really Nice Wells; CLR WIth a Great Well (Three Forks)

Eight (8) new permits, the Williston Basin, August 8, 2012 --
  • Operators: BEXP (3), Whiting (2), Denbury (2), Helis
  • Fields: Bell (Stark), North Tobacco Garden (McKenzie), Rosebud (Williams), Blue Buttes (McKenzie)
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CLR and GMXR will be reporting 2Q12 earnings, Wednesday. NOG, DBLE, and AXAS will be reporting 2Q12 earnings, Thursday.
CLR: raises 2012 growth guidance
GMXR results here;
See first comment: Gulfport Energy, 2Q12, earnings.
RBN Energy: whatever happened to the seasonality of natural gas?
Energy links at Independent Stock Analysis

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Look at "anon 1" comments below, to include this data point regarding CHK:
The company reported its Thurman Horn 406H well averaged approximately 7,350 boe per day (90% liquids) in its first eight days of stabilized production. This well is currently flowing at a rate of approximately 5,100 boe per day (65% liquids). In its first 60 days of production, the well has produced cumulative volumes of approximately 265,000 bbls of oil, 65,000 bbls of NGL and 350 mmcf of natural gas.  CHK press release.
,
Money, Money, Money, ABBA 
"In my dreams, I have a plan, if I got me a wealthy man ... it's a rich man's world ... a man like that is hard to find"
 
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Coming off confidential list, August 8, 2012:
  • 19460, 901, Whiting, Bergstrom 44-10H, Ray, t2/12; cum 21K 6/12;
  • 20079, 2,760, Whiting, Obrigewitch 21-16TFH, Bell, t2/12; cum 117K 6/12; 
  • 21482, 30, Legacy, Legacy Etal Seter 13-16H, Red Rock, a Spearfish well; t3/12; cum 2,559 bbls 6/12;
    21583, drl, CLR, Roadrunner 3-15H, Murphy Creek,
  • 22050, drl, BR, Kummer 41-30MBH, Blue Buttes, 
Producing wells completed:
  • 22548, 2,664, Whiting, Smith 41-12H, Sanish, t7/12; cum ---; middle Bakken;
  • 21586, 1,345, CLR, Clover 2-10H, Murphy Creek, t7/12; cum 443 bbls 7/12; 4-section spacing; total depth: 21,793; Three Forks;
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8 comments:

  1. Utica:

    "In the Utica Shale, Gulfport spud its first horizontal well in February 2012 and spud an additional four gross (1.9 net) wells during the second quarter of 2012. At the end of the second quarter, three gross wells were completed and in their resting period, one gross well was waiting on completion, and one gross well was being drilled. Gulfport's first horizontal well in the play, the Wagner 1-28H, was recently brought online from its resting period and tested at a gross peak rate of 17.1 MMCF per day of natural gas and 432 barrels of condensate per day. Based upon composition analysis, the gas being produced is 1,214 BTU rich gas. Assuming full ethane recovery, the composition above is expected to produce an additional 110 barrels of NGLs per MMCF of natural gas and result in a natural gas shrink of 18%. In ethane rejection mode, the composition is expected to yield 41 barrels of NGLs per MMCF of natural gas and result in a natural gas shrink of 8%. Gulfport currently plans to produce the Wagner 1-28H into a natural gas pipeline at a rate of approximately 10 MMCF per day of natural gas. At present, two rigs are drilling ahead on the sixth and seventh wells of 2012 in the play."

    http://ir.gulfportenergy.com/releasedetail.cfm?ReleaseID=698919

    anon 1

    ReplyDelete
  2. Utica:

    "Utica Shale (eastern Ohio): Chesapeake continues to focus on developing the wet gas and dry gas windows of the Utica Shale play in eastern Ohio, where the company holds approximately 1.3 million net acres of leasehold, the industry’s largest position. As of June 30, 2012, Chesapeake had drilled a total of 87 wells in the Utica play and the company’s production techniques and geologic understanding of the Utica play are continuing to improve. Of the 28 wells with production information in the focus area, on a post-processing basis, peak rates have averaged approximately 1,000 boe per day, consisting of approximately 205 bbls of oil, 150 bbls of NGL and 3.8 mmcf of natural gas per day. As of June 30, 2012 there were 28 additional wells waiting on pipeline connection, with the others in various stages of completion.

    Three notable recent wells completed by Chesapeake in the Utica are as follows:

    The Brown 10H in Jefferson County, OH achieved a peak rate of approximately 1,445 boe per day, which included 8.7 mmcf of natural gas per day;
    The Bailey 3H in Carroll County, OH achieved a peak rate of approximately 1,420 boe per day, which included 205 bbls of oil, 270 bbls of NGL and 5.7 mmcf of natural gas per day; and
    The Snoddy 6H in Carroll County, OH achieved a peak rate of approximately 1,260 boe per day, which included 320 bbls of oil, 250 bbls of NGL and 4.2 mmcf of natural gas per day."


    Hogshooter:

    "Hogshooter Wash (western Oklahoma, Texas Panhandle): On June 1, 2012, Chesapeake announced a significant new discovery in the Texas Panhandle portion of the Hogshooter Wash play, where the company owns approximately 30,000 net acres. The company reported its Thurman Horn 406H well averaged approximately 7,350 boe per day (90% liquids) in its first eight days of stabilized production. This well is currently flowing at a rate of approximately 5,100 boe per day (65% liquids). In its first 60 days of production, the well has produced cumulative volumes of approximately 265,000 bbls of oil, 65,000 bbls of NGL and 350 mmcf of natural gas. On July 13, 2012, Chesapeake placed the Zybach 6010H on production and this Hogshooter well is currently producing approximately 2,400 boe per day (85% liquids). Chesapeake’s oldest operated well in the Hogshooter play, the Meek 41 9H, is currently producing approximately 720 boe per day (85% liquids) after more than 90 days on production.

    Chesapeake currently has two wells drilling in the Hogshooter play, the Meek 41 10H and the Thurman Horn 4010H, and is scheduled to spud another 11 Hogshooter wells before year-end 2012. Chesapeake has identified approximately 60 potential drilling locations in the Hogshooter play."

    http://www.chk.com/News/Articles/Pages/1722883.aspx

    Many companies are cutting gas rigs even if they lose leases. Major cuts.

    anon 1

    ReplyDelete
    Replies
    1. If cutting gas rigs results in significantly higher natural gas prices a year from now, wow - what a great opportunity to be accumulating shares in some great companies.

      Delete
  3. most interesting from CHK statement is the absence of any Williston Basin results. I think they have come up empty in ND.

    ReplyDelete
    Replies
    1. Best takeaway from CHK and the Bakken: stay diversified.

      Delete
  4. Be careful.

    You mention Gulfport and it jumps over $4.

    Was it the video?

    You know not your power.

    anon 1

    ReplyDelete
    Replies
    1. LOL, as my daughter would text (I don't have a smart phone).

      To readers: I do not own any shares in Gulfport; there was no hidden agenda. "Anon 1" sent in the comment; I just posted it. What a story!

      Yes, I think it was the video -- and what an appropriate video.

      Delete
  5. The cf call is on now. Very interesting. More details than usual on one well.

    anon 1

    ReplyDelete

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