18619, Slawson, Crusader 1-16H, 84.
More to follow, I'm sure. This one was in the very prolific Van Hook oil field, on the west side of the lake. Not sure what to make of it.
Friday, October 22, 2010
Thirteen (13) New Permits in the Bakken Today; First Multi-Well Pads for XTO? (Bakken, ND, USA)
New permits for: XTO (5), Whiting (2), and one each for CLR, EOG, Sinclair, BEXP, Newfield, and Petro-Hunt.
I opined sometime ago that the takeover of XTO by XOM results in huge cash flow from the latter, and possibly will be translated into increased XTO activity in the Bakken, In addition, the "talking heads" on CNBC's Fast Money today suggested that XOM's earnings will be hurt by its exposure to natural gas. If that is true, then perhaps this burst of activity by XTO is directly related to XOM purchase. Obviously, whatever XTO does in the Bakken will be a very small piece -- a very small piece -- of all XOM does. But it was a surprise to see five permits for one operator, and to an operator not often seen on a daily basis.
The fields: Heart Butte (4 -- by all XTO), Gaylord (2), and one each in Upland, Van Hook, Midway, Parshall, Camp, Pembroke, and one Wildcat. Gaylord is in Stark County -- these are near South Heart, an area of recent new interest. Both Gaylord field wells are Whiting permits.
Four of the XTO wells: two pair of wells on two pads (or, two pads, with two wells on each pad):
Newfield had another good well: 1,797, Clear Creek Federal 1-25, McKenzie County.
BR had a nice well: 1,833, Amanda 21-14H, McKenzie County.
I opined sometime ago that the takeover of XTO by XOM results in huge cash flow from the latter, and possibly will be translated into increased XTO activity in the Bakken, In addition, the "talking heads" on CNBC's Fast Money today suggested that XOM's earnings will be hurt by its exposure to natural gas. If that is true, then perhaps this burst of activity by XTO is directly related to XOM purchase. Obviously, whatever XTO does in the Bakken will be a very small piece -- a very small piece -- of all XOM does. But it was a surprise to see five permits for one operator, and to an operator not often seen on a daily basis.
The fields: Heart Butte (4 -- by all XTO), Gaylord (2), and one each in Upland, Van Hook, Midway, Parshall, Camp, Pembroke, and one Wildcat. Gaylord is in Stark County -- these are near South Heart, an area of recent new interest. Both Gaylord field wells are Whiting permits.
Four of the XTO wells: two pair of wells on two pads (or, two pads, with two wells on each pad):
- 19800, FBIR Beaks 24X-8
- 19801, FBIR Huntsmedicine 24X-8
- 19805, FBIR Stephen 31X-19
- 19806, FBIR Bird 31X-19
Newfield had another good well: 1,797, Clear Creek Federal 1-25, McKenzie County.
BR had a nice well: 1,833, Amanda 21-14H, McKenzie County.
BEXP and Hess
A long time ago I raised this issue on this site. If you want to see previous posting on this subject, use the search application on this blog site and type in "lackluster."
Interesting to see this issue being voiced by others.
I am just including the link.
I am not passing judgment, nor going to make any comment.
Interesting to see this issue being voiced by others.
I am just including the link.
I am not passing judgment, nor going to make any comment.
Newfield's Current Presentation
Newfield's current presentation. This is a PDF download.
Conference call, click and listen to the 3Q10 earnings conference call.
From the presentation:
Conference call, click and listen to the 3Q10 earnings conference call.
From the presentation:
- Switching emphasis from natural gas to oil
- Eagle Ford Shale in Texas: wow this is a huge area -- the center of activity that I was aware of was south and southeast of San Antonio, but Newfield's Eagle Ford prospects are on the southwestern border of Texas; this is truly a huge area; other players -- Shell, Chesapeake
- Acreage acquired in Eagle Ford: about $725/acre
- Huge area in Southern Alberta Bakken (Lodgepole, Bakken, and Three Forks Sanish); Browning, MT, at the center of activity
Top-Five Tax Friendly States (Not a Bakken Story)
I have previously posted my sentiments regarding North Dakota's budget, the surplus, the fact that the state is taking in tax royalty at unprecedented rates, blah, blah, blah.
But with all that, North Dakota does not even make it to the top five tax-friendly states for retirees, according to Kiplinger. These are the top five tax-friendly states for retirees: Alaska, Wyoming, Michigan, Pennsylvania, and Colorado.
Look at the property taxes in Wyoming:
But what really surprised me was that Texas did not make it to the top five. It must be their property tax rates because Texas has no state income tax. Nor does South Dakota or Florida, to the best of my knowledge. With the fiscal problems that Pennsylvania has (Harrisburg is technically bankrupt), it is amazing that it makes the top five. Whatever.
Another link regarding this issue, click here.
On a positive note, Schlumberger's earnings soar.
But with all that, North Dakota does not even make it to the top five tax-friendly states for retirees, according to Kiplinger. These are the top five tax-friendly states for retirees: Alaska, Wyoming, Michigan, Pennsylvania, and Colorado.
Look at the property taxes in Wyoming:
Retirees don't pony up much in taxes in the Cowboy State. Thanks to the abundant revenues that Wyoming collects from oil and mineral companies, residents shoulder the lowest tax burden of any state except Alaska, according to the Tax Foundation. Prescription drugs and groceries are exempt from state sales taxes. For most property, only 9.5% of market value is subject to tax, so a home worth $100,000 is taxed on $9,500 of assessed value.Wyoming is high on my list. One of the best years of my life was an overnight stay in Rock Springs some years ago.
But what really surprised me was that Texas did not make it to the top five. It must be their property tax rates because Texas has no state income tax. Nor does South Dakota or Florida, to the best of my knowledge. With the fiscal problems that Pennsylvania has (Harrisburg is technically bankrupt), it is amazing that it makes the top five. Whatever.
Another link regarding this issue, click here.
On a positive note, Schlumberger's earnings soar.
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