CLR, WLL, OAS, NFX Report Later Today? CLR's Most Recent Corporate Presentation

I don't know for sure, but that's what my calendar shows.

CLR's February, 2012, corporate presentation, data points (some numbers rounded):

• 901,098 net acres; down slightly from 2Q11 data -- 901,370 net acres
• 22 rigs in North Dakota; down 1 from previously announced 23
• EUR: 603K boe per well
• 4Q11: 75,219 boepd production
• early January: 80,000+ boepd
• proved reserves: 40% growth yoy; 500 million boe proved reserves
• three Bakken formations: payzone -- generally the middle Bakken
• four Nisku (Three Forks) formations; Charlotte 2-22H; 1st successful test of a deeper TF bench; 1,496 boepd in 1-day test
• 2nd test of this deeper TF bench: Sunline 11-1TF-2SH; 1,023 boepd
• Huge footnote on slide 9: "CLR estimate of recoverable oil and gas (24 billion boe) includes only Middle Bakken and upper Three Forks. Lower TF benches should be additive."
• Montana Bakken: 2-rig program

Well cost:

• Single well: $8 million, 603K EUR
• ECO-Pad well: $7.2 million, 603K EUR

Rate of return:

• $50 oil: 15 - 20 percent
• $70 oil: 25 - 30 percent
• $90 oil: 40 - 45 percent

ECO-Pad: examples (IP per well average for 4 wells)

• Dvirnak-Pletan: 1,838 boepd 
• Bailey-Wiley: 1,105 boepd
• Hamlet-Salo: 811 boepd

Bakken Development Plan

• Original dual-zone plan: 8 wells per 1,280-acre unit; 4 middle Bakken; 4 TF; 603K boe EUR per well
• Additional Three Forks potential: total TF 180 to 270 feet thick
• Words don't do the graphic justice; if serious about the Bakken or CLR, you need to look at this slide yourself

For newbies, a thickness of 250 feet is huge in the "Bakken"

Total cash cost/boe (slide 18)

• 2008: $17.20
• 2009: $15.01
• 2010: $17.12
• 2011 (first 9 months): $19.73 (Newfield is right: it's gotten a lot more expensive to drill in the Bakken)

Remember EOG saying $40 oil is robust in the Bakken some years ago?

Swaps and Collars (oil)

• 4Q11: $80 - $97
• 2012: $80 - $97
• 2013: $80/$95 - $92/$110

Swaps (natural gas)

• 4Q11: $5.40
• 2012: $5.07

Jim Cramer and EOG/CEO

I missed it but I guess Jim Cramer interviewed the CEO of EOG.

I have not viewed the video. I assume it was a pretty laid-back, quiet, calm, soporific Jim doing the interview.

Note the disclaimer on the sidebar at the right. This is not an investment site. I do accumulate shares in EOG, but will not be accumulating any more shares in the next several months, not until at least after April 15.

Fracking Backlog Improving? -- The Bakken, North Dakota, USA

Of the 13 most recent reporting wells, all reported IPs, except for three.

Futures Don't Mean Squat ...

... but oil futures are down, and the spot price of oil is still above $106.

This is making the rounds as a political cartoon but you will have to locate the cartoon on your own. The good news is that the words are enough:

What to do about the high cost of gas?

a. Open up public land for drilling
b. Approve the Keystone pipeline
c. Speed up the refinery approval process
d. Stop the government delays
e. Blame George Bush

US, Bangladesh, and Ghana in Coalition to Fight "Climate Change"

I can't make this stuff up.

US Secretary of State Hillary Clinton said the coalition of the United States, Bangladesh, Canada, Mexico, Sweden and Ghana will launch a global drive to curb black carbon (soot), methane and hydrofluorocarbons (HFCs).

Canadian bureaucrats have more time on their hands now to attend climate change conferences (CCC) in Ghana and Bangladesh now that Canada has withdrawn from the Kyoto Protocol.