Friday, March 21, 2014

Reef Oil & Gas, A Texas-Based Company Operating In North Dakota


March 26, 2014: another Archer well announced. Move #26007 up to the "top" in the post below.

March 25, 2014: another Archer well announced. Move #26006 up to the "top" in the post below.

March 24, 2014: the company sent me a copy of the original press release. The company is, indeed, partnering with COP (BR). Based on that press release, I can bring a third well up to the "top" in the post below (#25962). A big "thank you" to the company marketing director to send me the press release.
Original Post
HoustonBizJournal is reporting:
Oil is gushing out of six new wells drilled by Richardson-based Reef Oil & Gas in the Bakken Shale in North Dakota.
Testing by Conoco-Phillips, a joint venture partner on the project, showed initial production rates between 2,312 to 2,880 barrels of crude oil per day and another 10 million cubic feet of natural gas per day. The next step will be to build the production facilities to put the wells into production.
A huge "thank you" to a reader for sending me this.

Interestingly, "Reef Oil & Gas" doesn't show up on NDIC's "well search" page which shows all operators with permits in North Dakota. I assume COP (through BR) has the permits, and Reef Oil & Gas is "simply" participating. I don't know. There may be more to the story.

A little sleuthing. I assume the "2,312" is an IP, as is the "2,880." If so:
  • 25960, 2,312, BR, Archer 44-25TFH, Charlson, t1/14; cum 29K 6/14;
  • 25961, 2,880, BR, Archer 44-25MBH, Charlson, t2/13; cum 59K 6/14; ICO
  • 25962, 2,592, BR, Archer 34-25TFH, Charlson, t2/14; cum 36K 6/14;
  • 26006, 2,928, BR, Archer 24-25MBH, Charlson, t2/14; cum 58K 6/14; ICO (IP announced March 25, 2014) 
  • 26007, 2,592, BR, Archer 24-25TFH, Charlson, t2/13; cum 53K 6/14;
Other Archer wells:
  • 26419, 2,904, BR, Archer 14-25TFH, Charlson, t2/14; cum 27K 6/14;
  • 17356, 356, BR, Archer 14-25H, Charlson, middle Bakken; OH frack; 600,000 lbs sand and ceramic; t11/08/ cum 228K 6/14;
Disclaimer: this is not an investment site. Do not make any investment decisions based on what you read here or what you think you may have read here.

I bet there are a lot of small oil-and-gas companies "we" never hear about that are making tons of money in the Bakken using the NOG business model.

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