Monday, December 12, 2011

Overheard at the Economart? -- The Bakken, North Dakota, USA

  • Continental Resources, a million acres; 34,000 boepd
  • Oasis, 300,000 acres; 17,000 boepd
  • Kodiak: 100,000 acres: 12,000 boepd, and now they've picked up prime acreage in the Bull's Eye
This is not an investment site; see disclaimer at the right. I cannot vouch for the accuracy of those numbers; I just seem to recall those numbers are in the ballpark. Could be wrong.

For Investors Only -- Bakken Stocks -- Denbury Is Listed Again -- But Look At KOG Compared to CLR

Investopedia link here.

Eagle Ford: EOG and MRO.

Bakken: CLR and DNR.

There "they" go again: DNR.

Every Bakken list seems to include DNR.

Note this:
Continental is the largest player in this formation, with 34,505 BOE/d coming from the Bakken in the third quarter, or 52% of its overall 66,289 BOE/d production.
CLR has almost 1,000,000 net acres in the Bakken.

KOG says they may be producing as much as 30,000 boepd by the end of 2012.

Am I missing something, or misreading something? KOG has a market cap of $1.85 billion and about a tenth of CLR's net acreage; CLR has a market cap of almost $12 billion.

If I have my numbers right, and KOG predicts 30,000 boepd a year from now, one can only imagine what CLR will be producing. Like I say, I must be missing something.

This is not an investment site; see disclaimer at the right.

Phone It In -- Absolutely Nothing to Do With The Bakken -- If You Are At This Site Just for the Bakken, Please Skip This Post

This is kind of cool. Not only does the president plan to "slash" US presence at Mexican-US border, he's come up with another money-saving proposal: just phone it in.

Folks crossing the US-Mexican border will be allowed to stop at unmanned kiosks and phone in their information as they cross the border. Overhead drones will verify that folks crossing the border actually do that. Pretty clever.

I don't know why we don't do that at the North Dakota-Canadian border. We already have the drones at Fargo. The overhead costs are already fixed.

Oh, that's right. It's a safety issue, not a money issue. Canadians generally don't shoot at customs and immigration personnel.

Speaking of which: now that more Mexicans have fast and furious guns, it's become even more dangerous for our CIP to ask for identification. It usually leads to someone pulling out a lethal weapon.

Speaking of f&f, it turns out it was a stunt to promote gun control (thousands of links). This came from the same administration that mysteriously found the first case of fracking affecting well water (the EPA-Wyoming Shenanigans). After thousands and thousands of fracked wells, and no evidence of ground water/well water contamination ever, all of a sudden, the EPA drills and fracks a few wells, and voila, well water contamination with "frack fluids" right next to the EPA wells.

By the way, this was the same government that admitted to suppressing knowledge of the exploding batteries in the GM electric cars due to the "fragility of the Volt sales." A direct quote. I cannot make this stuff up. 

Some might say (certainly not me): "Lucy, you got some 'splainin' to do."

Unless you are the Attorney General, and then it is not lying as long as your mind was not in a lying frame of mind.

I wonder if the EPA drilled their own wells or if they outsourced? If so, memo to self: find out who drilled the EPA wells, and, never, never, never have them frack my well. They must have used Halliburton cement that was leftover from the Gulf well. 

As long as I'm off-topic, I might as well note that the president makes news when he goes to church. The photo that went viral around the world shows a president well-dressed to take on global warming -- long, heavy winter coat; wow, it looks chilly. His wife is not wearing as much outerwear, suggesting that in the case of the president, it may be a lack of body fat, which has been talked about for quite some time. Michelle's four strands of pearls make a nice fashion statement. I think her Jesus would be proud.

While assigned to England, I attended the Anglican church. I found the experience very comforting. Due to circumstances, I was only able to wear denim jeans to church, with my ever-present back pack. Except for royalty, I don't think English would be seen in church making a fashion statement. Of course, not many English go to church any more. I generally don't attend church when stateside. 

Keep your comments short. They won't get posted anyway.

I wonder if the pearls are real, fake, loaned, owned, or insured?

Surface Owners and Offers for Pipeline Easements

Updates

September 29, 2012: Elsewhere a reader says he is being offered $150/rod for a 100-foot easement. Not surprising, he's not getting much help. At least not yet.

Original Post

The following was sent in as a comment. I have no experience in the subject and since most folks may not read the comments, I am posting the query as a stand-alone post:
As a landowner from out of state, the pipeline is to go through our land. We have been offered $75/rod but this seems little as compared to my online research as to what people have received in other states. Are others being offered the same amount? 
Please feel free to let folks know what you've been offered. It may depend on location, diameter of pipe, what the pipe will be carrying, etc., so it might help to provide specific information.

Wow, Talk About A Miserable Day of Reports Coming Out of the Bakken

New wells reporting link here.

Of the nine new wells reporting today, only two reported IPs. Wow. Yes, Virginia, there still is a backlog regardless of what the corporate presentations say. You can't blame any of the backlog on fracking on the weather or the government; the weather has been wonderful and the government assures us it has no intention of shutting fracking down. Not directly, anyway.

Five of the nine were placed on DRL status.

Two Whiting wells were suspect: a) inactive and a very poor production summary; and, b) active, but production poor and not placed on DRL status as far as I could see; so either it will go inactive or it will be placed on DRL status, also.

I don't know what to make of the Rudman 11-12TFH (#19591) that Whiting put on inactive status.

The only good well (based on IP) was a Denbury Onshore well:
So, pretty depressing if one is as excited about the Bakken as I am.