Hope Springs Eternal -- XTO Proposes Unitizing A Large Area Of The Bakken -- September 28, 2018

Grinnel-Bakken and Hofflund-Bakken are contiguous -- is that the right word? -- think of a long rectangular field, with the eastern fourth being the Hofflund, and the western three-quarters being the Grinnell. I don't know much about the Hofflund -- I see it once in awhile -- but the Grinnell is a great field. It's amazing how much of the best Bakken is below the river and the lake. God has a sense of humor. The Native Americans were right: "we" never should have flooded what is now Lake Sakakawea. 

Hofflund:

Grinnell:

Link here. Data points:

• XTO would like to unitize the Hofflund-Bakken and the Grinnell-Bakken oil fields as one large unitized unit
• Petrogulf Corp is one of the 150 working interest owners
• Petrogulf objected to unitizing the two fields as one unitized unit
• Petrogulf felt unitizing the two units as one unit would be "unfair" because geology is "so different"
• NDIC proposed separating the two units; but allow unitizing both -- separately
• NDIC also recommended changes to the royalty distribution formula that he said would make the plan more equitable (details not provided in the article)
• NDIC unanimous: the proposal goes forward but as two separate unitized fields: the Hofflund-Bakken unitized field; and the Grinnell-Bakken unitized field
• the proposal must now be approved by 55% of mineral owners

Flashback

• QEP tried unitizing the Helis Grail field years ago; the proposal was defeated 
• Helis Grail field is not unitized
• something tells me....

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Electric Switches 101

Unfortunately this was filmed in low light. But I had to take advantage of the moment. Sophia did not want this filmed but she agreed to one "take." Earlier, not filmed, was much better, but this will give you an idea of what we are working on.