Statoil (BEXP) -- Transcript

Link to SeekingAlpha.com.

For newbies: Statoil (Norway) bought BEXP last year. Statoil continues to operate in the Bakken as BEXP.

Selected data points and quotes (taken out of context) from the link:

Q: Do you have any plans on increasing activity in Bakken and Eagle Ford? And how many rigs are you planning to ramp in these different basins next year?

A: Yes, we have plans to increase production in Bakken and Eagle Ford. So for instance, Bakken is producing some 38,000 barrels per day in this quarter. When we acquired it a year ago, we produced 21,000 barrels per day. So it's almost doubled. We are continuing with the -- is it 15, Svein, 15 rigs now? Yes, 14 to 15. 14 to 15 rigs in Bakken. Our operations actually runs very smoothly. In Eagle Ford does gas and liquids, and so what is the number of rigs that we are running there? I can't recall the specific number. It's -- I think we're running 9 rigs there in the Eagle Ford currently, which is approximately on the level we have been.

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Then, we produced 38,000 barrels per day from Bakken, the asset that we acquired a year ago, and we have added rail capacity to that asset and bypassing the pipeline bottlenecks that is currently -- that we are currently experiencing in that area. And that is to ensure that we get the oil to the market at the highest price possible and reducing the differentials, and we see that it works. And our trading organization in Stamford create a lot of value from these barrels.

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We are currently ramping up production from Peregrino, Pazflor, Marcellus, Bakken, Eagle Ford, and then we plan to bring 3 fast-track projects onstream during the next -- during the fourth quarter.