And Then There Were Two: Idle Chatter Regarding the CHK Asset Sale Announced Today

Updates

September 13, 2012: here it is. I thought I recalled something that suggested CHK was still trying to make something work in North Dakota. A new case, not a continued case:

• 18690, Chesapeake, recomplete Olson 12-139-104 A 1H, Fryburg formation; Golden Valley

This on the agenda for this month's hearing docket at the NDIC.

September 13, 2012: see comment below. Link will take you this lede from the Dickinson Press:

Chesapeake Energy, a major oil company with work sites south of Dickinson, is uprooting two rigs and could possibly move out of North Dakota, said Kelsey Campbell, coordinator of corporate development and government relations for the company.

Original Post

In light of today's news about asset sale by Chesapeake, a reader notes that it may be less interesting what CHK sold, and more interesting what they didn't sell.

Hold that thought, and recall the recent comments by EOG's Papa: there are only four relevant plays (Eagle Ford, Bakken, Permian, and Barnett) and then more recently, the same EOG/Papa said there were only two relevant (maybe he used the word "significant") plays: the Eagle Ford and the Bakken.

Permian? Utica? (relevant in light of today's announced CHK asset sale.)

Now recall this cryptic exchange from CHK's McClendon in an earning's conference call. Any insight about CHK's plans for  the Bakken was "cut off" by Mr McClendon during the Q & A, this is back in May, 2011, I believe:

Brian Singer - Goldman Sachs Group Inc.: Can you provide a little more color on your Williston position and activities there. I may be recollecting incorrectly, but I believe you've mentioned in the past that you're testing more new concepts as opposed to the Three Forks/Bakken, but I think you mentioned the Three Forks/Bakken here. Can you just give us an update on what you're seeing there? 

Aubrey McClendon: Yes. We actually haven't started to drill there yet, Brian, so I can't update you but I can just confirm that we have around 200,000 acres in the play and I think we'll end up in the 250,000 to 300,000 range. And probably we'll look for a partner during the course of the year, but that's all that we have mentioned about the Williston at this point.  

Brian Singer - Goldman Sachs Group Inc.: Okay. Are these new concepts or is this the same kind of Bakken/Three Forks that others are pursuing?  

Aubrey McClendon: We just need to limit it to conversation about the Williston if I can at this point.

Maybe that exchange is no longer relevant, but ....

I can't keep up with everything in the Bakken, but the archives are full of interesting notes. The archives are maintained at the sidebar at the right, particularly the oil field updates in the Bakken, as well as the Bakken-centric operators (and others).

I'm not going to look for it now, but I recently posted a link about CHK and another permit in North Dakota, suggesting that, although CHK may not be very active in the Williston Basin, the company is still trying to get "it to work." Or so it seems.