Over on SeekingAlpha.com, there is a story of seven (7) companies with notable insider buying recently. One of the companies is Oasis.
Oasis has had a number of great wells in the Bakken and seems to be a rising star joining the ranks of CLR, WLL, and BEXP, maybe not in market share, but in relative success in the Bakken.
One has to admit that among thousands of companies out there, one Bakken company was identified, and that company was OAS.
Friday, April 1, 2011
Investors: Two More Bakken Companies With Increasing Short Interest
With the recent "bear raid" on NOG -- providing an entry point for new investors, or a re-entry point for long-term holders and recent sellers -- a story over on SeekingAlpha.com might be of interest to Bakken investors.
At this link, two of the twenty companies are Bakken names: Whiting (WLL) and Williams (WMB). The article lists twenty companies in which there is increasing "short interest."
If I did the calculations correctly, 2.5 percent of outstanding shares are shorted in WMB while almost 5 percent of WLL shares are shorted.
I haven't heard much from WMB regarding its Bakken play after acquiring almost 7 percent of oil acreage in the reservation. A unit of WLL (WHX) took a hit a few months ago after a report was widely circulated regarding the trust. The report noted that the trust would eventually come to an end. Well, duh.
At this link, two of the twenty companies are Bakken names: Whiting (WLL) and Williams (WMB). The article lists twenty companies in which there is increasing "short interest."
If I did the calculations correctly, 2.5 percent of outstanding shares are shorted in WMB while almost 5 percent of WLL shares are shorted.
I haven't heard much from WMB regarding its Bakken play after acquiring almost 7 percent of oil acreage in the reservation. A unit of WLL (WHX) took a hit a few months ago after a report was widely circulated regarding the trust. The report noted that the trust would eventually come to an end. Well, duh.
With Active Drilling Rigs Down in North Dakota, What's CLR Doing -- Bakken, North Dakota, USA
The number of active drilling rigs is down a bit in North Dakota, down to 168 from it's all-time high of 174 just a few weeks ago.
With that in mind, I was curious to see what Continental Resources was doing. Had I placed a bet, I would have lost. I am pleasantly surprised.
It is often quoted that CLR has 22 rigs -- in fact that was reported in a SeekingAlpha.com story as recently as yesterday.
This morning I see CLR has 23 rigs on the active drilling rig list.
Even more surprising (for me), is that Whiting is up to 15 on that same list, and I think Whiting is getting better wells.
BEXP has seven rigs on that list.
Hess has fourteen, which is in line which I thought they would after their purchase of Tracker and American Oil and Gas. There are still two "American Oil and Gas" rigs listed.
EOG has eleven rigs.
Fidelity (MDU) has two.
And finally, Oasis has six rigs.
With that in mind, I was curious to see what Continental Resources was doing. Had I placed a bet, I would have lost. I am pleasantly surprised.
It is often quoted that CLR has 22 rigs -- in fact that was reported in a SeekingAlpha.com story as recently as yesterday.
This morning I see CLR has 23 rigs on the active drilling rig list.
Even more surprising (for me), is that Whiting is up to 15 on that same list, and I think Whiting is getting better wells.
BEXP has seven rigs on that list.
Hess has fourteen, which is in line which I thought they would after their purchase of Tracker and American Oil and Gas. There are still two "American Oil and Gas" rigs listed.
EOG has eleven rigs.
Fidelity (MDU) has two.
And finally, Oasis has six rigs.
High Gasoline Prices Not Having an Effect on Jobs -- CNBC Talking Head
It has been reported often by talking heads on CNBC that high gasoline prices are not having an effect on consumers. This morning CNB's lead-off guest said that high gasoline prices are not having an effect on employment. Expectations are that there will be a good jobs report today.
Oil futures remain "up," pushing price of WTI oil just over $107.
Oil futures remain "up," pushing price of WTI oil just over $107.
SSN Sets Frac Date for Earl -- Bakken, North Dakota, USA
Earl 1-13H is scheduled to be fracked April 4, 2011.
It is a short lateral.
In addition, SSN has closed on its sale of natural gas assets in Green River Basin, Wyoming, for $6.3 million.
It is a short lateral.
In addition, SSN has closed on its sale of natural gas assets in Green River Basin, Wyoming, for $6.3 million.
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