Monday, May 28, 2012

New Poll: Which Company Would You Like to Drill Your Well?

Results of the most recent poll: with regard to the news that Enbridge will reverse the Seaway, slightly more than 60% felt this was good news for "WTI/Bakken."  Twenty percent said it would have no effect; and slightly less than 20 percent said they did not know what the reversal was all about when they voted. In other words, folks who knew about the Seaway reversal thought this was good for WTI/Bakken -- overwhelmingly so.

The reversal has hardly begun, but to the best of my knowledge, there has not yet been much change, but it's probably too early to judge. We'll check back on this in six months or so, if I remember.

I am really excited about the new poll. Whether or not you own mineral rights, I'm curious about this: if you had mineral rights to lease, which company would you prefer to drill "your" well? There are some "nuances" here -- it's not as straightforward as one might think.

216 Active Rigs in North Dakota -- New Record -- Happy Memorial Day

Quite astounding, 216 active rigs.

I would not have predicted much above 210 even as recently as a few weeks ago. I've talked about that before.

Huge "thank you" to a reader. I might have missed it.

216 rigs. So much for all that concern about drilling slowing down in the Bakken.  Note: the SeekingAlpha article linked at that site is about two months old.

At the end of the day, the number of rigs is simply one data point. A more important data point is the total monthly production.