The Million Dollar Way (The Bakken Oil Blog)

Friday, November 2, 2012

Sandy Aftermath: Headlines That One Wouldn't See Without Drudge

Updates

November 3, 2012:

'FOCUSED ON IT EVERY MINUTE HE'S NOT ON STAGE'... Obama Ignores Question About Storm Victims' Frustrations... Sandy death toll at 109; 'There could be more'... Explosions jolt Manhattan residents... 2.5 million still without power... Temps dip into the 20s... Con Edison Distributing Dry Ice... FREE FUEL FOR EVERYONE! 2-mile line on Staten Island... Gov't tells public to stay away from free gas until first responders fuel up... CRAIGSLIST: $15 a gallon... Restaurant, hotel prices skyrocket... Residents arm up: Bats, machetes, shotguns... 'Anarchy in Queens'... ODD-EVEN: NJ counties enact Carter-style gas rationing... REPORT: FEMA RUNS OUT OF WATER...

Original Post

Again, a huge thanks to Drudge, providing headlines we would not otherwise see. I assume many of these links will break over time.

Drivers Waiting 6 Hours For Gas in NYC... Tempers Rise in Wake of Storm... 'Finding bodies left and right'... 'They forgot about us'... CHUCK SCHUMER CONFRONTED: 'We Are Gonna Die!' CUOMO: 'No reason to panic'... Utility workers pelted with eggs... Misery... Mile-long lines, price hits $6... Residents Furious RED CROSS Offering Cookies & Hot Chocolate, Not Blankets Or Clothes... Two massive generators power NY media, not masses... Staten Islanders Plead for Help: 'We Need Food'... 'Please don't leave us'... VIDEO: Stranded New Yorkers Defecating in Apartment Buildings... DIRE...

Bloomberg Diverts Critical Supplies from Sandy Aid to NYC Marathon... White House silent... SLAMMED... Stranded NYers face getting booted from hotel rooms to make room for marathoners... HOTEL STANDS UP TO RUNNERS...

Finally caves in: Bloomberg cancels race....

President Faces Voters With Highest Unemployment Of Any Incumbent Since FDR...

NDIC Hearing Dockets -- November, 2012

OXY USA and Newfield are noticeably absent.

Many of the "continued" cases had to do with redefining stratigraphic limits.

Note the BR requests for 2560-acre units; some have suggested this is because of "national grasslands," i.e., the Little Missouri National Grasslands and/or Little Missouri State Park. That may be true in some cases. But it certainly looks like several of the fields (including Clear Creek, Pershing, North Creek, and Sand Creek) are outside the grasslands. In addition, in last month's hearings, CLR had requests for multiple 2560-acre unit clearly outside "protected" areas. I think the overlapping 2560-acre spacing units noted below are requested for reasons other than the grasslands.

EOG's request for six wells on a 320-acre spacing unit is a one-off.

Initial thoughts on the November dockets.

Wednesday, November 28, 2012

18988, BEXP, et al, proper spacing, Poe-Bakken, McKenzie
18989, Hess, et al, proper spacing, Rainbow-Bakken, Williams
18990, Hess, proper spacing, Sather Lake-Bakken, McKenzie
18991, BR, amending, Clear Creek-Bakken and Camel Butte-Bakken; establish an overlapping 2560-acre unit; 1+ wells; McKenzie
18992, BR, amending, Johnson Corner-Bakken, establish an overlapping 2560-acre unit; 1+ wells; McKenzie
18993, BR, amending Camel Butte-Bakken and the Blue Buttes-Bakken, establish an overlapping 2560-acre unit; 1+ wells; McKenzie
18994, BR, amending Johnson Center-Bakken, establish an overlapping 2560-acre unit, 1+ wells, McKenzie
18995, BR, amending, Camel Butte-Bakken and Johnson Corner-Bakken, establish an overlapping 2560-acre unit; 1+ wells; McKenzie
18996, BR, amending, Pershing-Bakken, establish an overlapping 2560-acre unit, 1+ wells; McKenzie
18997, BR, amending, North Fork-Bakken, establish two overlapping 2560-acre units 1+ wells; McKenzie
18998, BR, amending Little Knife-Bakken, establish an overlapping 2560-acre unit; 1+ wells; Dunn
18999, BR, amending Flat Top Butte-Bakken, establish a 1280-acre unit; 4 wells; McKenzie
19000, Hess, amending Alkali Creek-Bakken, all wells unrestricted production; Mountrail, McKenzie, Williams
19001, Hess, amending, Antelope Creek-Bakken, all wells unrestricted production; McKenzie;
19002, Hess, amending, Banks-Bakken, all wells unrestricted production, McKenzie, Williams
19003, Hess, amending, Baskin-Bakken, all wells unrestricted production, Mountrail,
19004, Hess, amending, Big Butte-Bakken, all wells unrestricted production, Mountrail
19005, Hess, amending, Cedar Coulee-Bakken, all wells unrestricted production, Dunn
19006, Hess, amending, Clear Water-Bakken, all wells unrestricted production, Burke, Mountrail
19007, Hess, amending, Crazy Man Creek-Bakken, all wells unrestricted production, Williams, McKenzie
19008, Hess, amending, Ellsworth-Bakken, all wells unrestricted production, McKenzie
19009, Hess, amending, Hawkeye-Bakken, all wells unrestricted production, McKenzie
19010, Hess, amending, Hofflund-Bakken, all wells unrestricted production, McKenzie
19011, Hess, amending, Juniper-Bakken, all wells unrestricted production, McKenzie
19012, Hess, amending, Larson-Bakken, all wells unrestricted production, Burke
19013, Hess, amending, Lone Tree Lake-Bakken, all wells unrestricted production, Williams
19014, Hess, amending, Marmon-Bakken, all wells unrestricted production, Williams
19015, Hess, amending, New Home-Bakken, all wells unrestricted production, Williams
19016, Hess, amending, Rainbow-Bakken, all wells unrestricted production, Williams
19017, Hess, amending, Sandrocks-Bakken, all wells unrestricted production, McKenzie
19018, Hess, amending, Siverston-Bakken, all wells unrestricted production, McKenzie
19019, Hess, revoking, Timber Creek-Bakken, all wells unrestricted production, McKenzie
19020, Hess, revoking BR permits, the Bice 44-12TFH, and Bice 44-12MBH; Dunn
14935, cont'd,
15676, cont'd,
16125, cont'd,
19021, Cornerstone, temporary spacing, Burke County
19022, Cornerstone, temporary spacing, Burke County
19023, Petro Harvester injectivity test, Wayne-Madison, Brondersleve #2, Bottineau
19024, Oasis, amending Cottonwood-Bakken, i) extend the field; ii) establish 23 new 1280-acre units; iii) 8 horizontal wells in each (8x 23) --> 184 wells, Burke, Mountrail
19025, Oasis, amending, MonDak-Bakken, all wells unrestricted production, McKenzie
18216, cont'd
19026, KOG, amending, Truax-Bakken, 12 wells on a 1280-acre unit, Williams
19027, KOG, amending, Pembroke-Bakken, 12 wells on a 1280-acre unit; McKenzie
19028, KOG, amending, Twin Buttes-Bakken, establish 2 1280-acre units; 2 wells in each; Dunn
19029, Whiting, amending, Sand Creek-Bakken, 5 wells on 2 1280-acre unit; and establish a 2560-acre unit, 1+ wells; McKenzie
19030, Whiting, amending, Twin Valley-Bakken and the Westberg-Bakken; 5 wells on 2 1280-acre units; and establish an overlapping 2560-acre unit for 1+ wells; McKenzie
17358, cont'd
17779, cont'd
18647, cont'd
19031, BR, SWD
19032, BR, amending, MonDak-Bakken, 4 wells on a 1280-acre unit; McKenzie
19033, BR, amending, Pierre Creek-Bakken, 4 wells on a 1280-acre unit; McKenzie
19034, KOG, SWD
19035, KOG, SWD
19036, KOG, SWD
19037, KOG, SWD
19038, Whiting, SWD
19039, Petrogulf, 8 wells a 1280-acre unit; McKenzie, Mountrail
19040, Murex, pooling
19041, MRO, pooling
19042, MRO, pooling
19043, Cornerstone, pooling
19044, Cornerstone, pooling
19045, Cornerstone, pooling
19046, Cornerstone, pooling
19047, Samson Oil and Gas, amending Stockyard Creek-Bakken, 7 wells on each of 2 overlapping 1280-acre units; Williams
19048, Petro-Hunt, pooling
19049, Petro-Hunt, pooling
19050, Petro-Hunt, pooling
19051, Petro-Hunt, pooling
19052, Petro-Hunt, pooling
19053, Petro-Hunt, pooling
19054, Petro-Hunt, pooling
19055, Petro-Hunt, pooling
19056, Petro-Hunt, polling
19057, Petro-Hunt, pooling
19058, Petro-Hunt, pooling
19059, Petro-Hunt, pooling
19060, SM Energy, pooling

Thursday, November 29, 2012

19061, EOG, Eightmile-Bakken, proper spacing, McKenzie, Williams
19062, EOG, Sixmile-Bakken, proper spacing, Williams
18841, cont'd
18842, cont'd
18843, cont'd
19063, Assiniboine-Bakken, proper spacing, McKenzie
19064, Ft Buford-Bakken, proper spacing, Williams
19065, Zenergy, extending Glass Bluff and/or Foreman Butte-Bakken or alternatives, to establish 2 1280-acre unit; 1 well each, McKenzie
19066, Zenergy, extending Banks and/or Elidah-Bakken, establish an overlapping 2560-acre unit, 1 well, McKenzie
19067, ERF et al, Moccasin Creek-Bakken, proper spacing, Dunn
19068, BEXP, Buford-Bakken, proper spacing, McKenzie, Williams
19069, BEXP, Sugar Beet-Bakken, proper spacing, Williams
19070, CLR, extend Rosebud-Bakken or alternatives; create an overlapping 2560-acre unit; multiple wells; McKenzie, Williams
19071, CLR, amending, Cedar Creek-Ordovician, establish a 680-acre unit, 2 wells; Bowman
19072, CLR, Hayland-Bakken, 14 wells on an existing 1280-acre unit, Divide
19073, CLR, Hayland-Bakken, redefine stratigraphic limits, Divide
19074, CLR, Barta-Bakken, unrestricted flaring, Billings, Dunn
19075, CLR, Beaver Creek-Bakken, unrestricted flaring, Billings, Golden Valley
15224, cont'd
18852, con'td
18853, cont'd
18854, cont'd
18855, cont'd
18856, con'td
18859, cont'd
18861, cont'd
18865, cont'd
18870, cont'd
18672, cont'd
18873, cont'd
18878, cont'd
18881, cont'd
18883, cont'd
18889, con'td
18893, cont'd
18894, cont'd
18895, cont'd
18897, cont'd
18901, cont'd
18902, cont'd
18903, cont'd
18904, cont'd
18910, cont'd
18667, cont'd
19076, GMXR, amending Beicegel Creek-Bakken, redefine stratigraphic limits, McKenzie
19077, GMXR, amending, Elkhorn Ranch-Bakken, redefine stratigraphic limits, Billings
19078, GMXR, amending Magpie-Billings, redefine stratigraphic limits, Billings
19079, GMXR, amending Ranch Creek-Bakken, redefine stratigraphic limits, McKenzie
19080, Hunt, amending Fertile Valley-Bakken, redefine stratigraphic limits, Divide
19081, Hunt, amending Smoky Butte-Bakken, redefine stratigraphic limits, Divide
19082, Liberty Resources, Foreman Butte, Pronghorn, and/or Rawson-Bakken; establish 4 1280-acre units; 1 well each; McKenzie
19083, Liberty Resources, Todd, and/or Williston-Bakken or alternative Springbrook Field, establish a 1280-acre unit; establish a 1280-acre unit; Williams
19084, Enduro, reserve pits
19085, Flatland, treatment plant
19086, Sinclair, amending Sanish-Bakken, establish 2 overlapping1280-acre units; 1 well each; Mountrail
19087, Slawson, Squaw Gap-Bakken, establish 3 640-acre units; 5 wells on each 640-acre unit; McKenzie
18676, cont'd
18677, cont'd
18678, cont'd
19088, Strike, amend, Elmore-Madison, redefine stratigraphic limits, Renville County
18312, cont'd
18497, cont'd
18837, cont'd
18838, cont'd
18911, cont'd
18912, cont'd
18913, cont'd
18914, cont'd
18915, cont'd
19089, IHD Liquids, treatment plant
18314, cont'd
17830, cont'd
19090, Zavanna, pooling
19091, Zavanna, pooling
19092, Zavanna, pooling
19093, Zavanna, pooling
19094, Zavanna, pooling
19095, Zavanna, pooling
19096, Zavanna, SWD
19097, WPX, pooling
19098, CLR, pooling
19099, G3 Operating, pooling
19100, G3 Operating, pooling
19101, G3 Operating, pooling
19102, G3 Operating, pooling
19103, G3 Operating, pooling
19104, G3 Operating, pooling
19105, G3 Operating, pooling
19106, G3 Operating, pooling
19107, G3 Operating, pooling
19108, G3 Operating, pooling
19109, G3 Operating, pooling
19110, G3 Operating, pooling
19111, G3 Operating, pooling
19112, Samson Resources, risk penalty legalese
19113, Samson Resources, risk penalty legalese
19114, Samson Resources, risk penalty legalese
19115, Samson Resources, pooling
19116, GMXR, Magpie-Bakken, 4 wells on an existing 1280-acre unit, Billings
19117, GMXR, Elkhorn Ranch-Bakken, 4 wells on an existing 1280-acre unit, Billings
19118, GMXR, Beicegel Creek-Bakken, 4 wells on an existing 1280-acre unit, McKenzie
19119, GMXR, Ranch Creek-Bakken, 4 wells on an existing 1280-acre unit, McKenzie
19120, Sinclair, Little Knife-Bakken, 3 wells on an existing 1280-acre unit; Dunn
19121, Fidelity, risk penalty legalese
19122, Fidelity, risk penalty legalese
19123, Fidelity, risk penalty legalese
19124, Fidelity, risk penalty legalese
18934, cont'd
19125, XTO, risk penalty legalese
19126, XTO, McGregor-Bakken, 8 wells on an existing 1280-acre unit, Williams
19127, XTO, Border-Bakken, 8 wells on an existing 1280-acre unit, Burke
19128, XTO, St Demetrius-Bakken, 8 wells on ~18 1280-acre units --> 116 wells, Burke
18515, cont'd
19129, Zenergy, pooling
19130, Zenergy, pooling
19131, Zenergy, pooling
19132 Zenergy, pooling
19133, Zenergy, pooling
19134, Zenergy, pooling
19135, Zenergy, pooling
19136, Zenergy, pooling
19137, Zenergy, pooling
19138, Zenergy, pooling
19139, Zenergy, pooling
19140, Zenergy, pooling
19141, Zenergy, pooling
19142, Zenergy, pooling
19143, Zenergy, pooling
19144, Zenergy, pooling
19145, Zenergy, pooling
19146, Zenergy, pooling
19147, Liberty Resources, pooling,
19148, Liberty Resources, pooling,
19149, Liberty Resources, pooling,
19150, Liberty Resources, pooling,
19151, Liberty Resources, pooling,
19152, Liberty Resources, pooling,
19153, Liberty Resources, pooling,
19154, Liberty Resources, pooling,
19155, Liberty Resources, pooling,
19156, Liberty Resources, pooling,
19157, Liberty Resources, pooling,
19158, Liberty Resources, pooling,
19159, Liberty Resources, pooling,
19160, Liberty Resources, pooling,
19161, Liberty Resources, pooling,
19162, Liberty Resources, SWD
19163, Liberty Resources, SWD
19164, Liberty Resources, injection
19165, Liberty Resources, injection
19166, Liberty Resources, injection
19167, Liberty Resources, injection
19168, Liberty Resources, injection
19169, Liberty Resources, injection
19170, Crescent Point, pooling
19171, Crescent Point, pooling
19172, Crescent Point, pooling
19173, Crescent Point, pooling
19174, Crescent Point, pooling
19175, Crescent Point, pooling
19176, Crescent Point, pooling
19177, Crescent Point, pooling
19178, Crescent Point, pooling
19179, Crescent Point, pooling
19180, Crescent Point, pooling
19181, Crescent Point, pooling
19182, Crescent Point, pooling
19183, Crescent Point, pooling
19184, Crescent Point, pooling
19185, Crescent Point, pooling
19186, Crescent Point, pooling
19187, Crescent Point, pooling
19188, Crescent Point, pooling
19189, Crescent Point, pooling
19190, Crescent Point, pooling
19191, Crescent Point, pooling
19192, Crescent Point, pooling
19193, Crescent Point, pooling
19194, Crescent Point, pooling
19195, Crescent Point, pooling
19196, Crescent Point, pooling
19197, Crescent Point, pooling
19198, Crescent Point, pooling
19199, Crescent Point, pooling
19200, Crescent Point, pooling
19201, Crescent Point, pooling
19202, Crescent Point, pooling
19203, Baytex, pooling,
19204, Baytex, pooling,
19205, Baytex, pooling,
19206, Baytex, risk penalty legalese,
19207, Baytex, risk penalty legalese,
17883, cont'd
17884, cont'd
17885, cont'd
17886, cont'd
19208, EOG, risk penalty legalese
19209, EOG, risk penalty legalese
19210, EGO, risk penalty legalese
19211, EOG, Antelope-Sanish, 6 wells on an existing 320-acre unit, McKenzie
19212, BEXP, Williston-Bakken, flaring, Williams
19213, Ballantyne, comingling
19214, Newfield, Sand Creek-Bakken, 7 wells on an existing 1280-acre unit, McKenzie
17036, cont'd
18782, cont'd
19215, Sakakawea Ventures, SWD
19216, Sakakawea Ventures, SWD
19217, R360 Williston Basin, SWD
19218, Redemption Energy, SWD
19219, Omimex Petroleum SWD

Suddenly, Canada's Oil Fields Not A Sure Thing -- WSJ; Jones Act Waived

Link here to WSJ.

Amid rising costs, gyrating prices and a burst of supply competition down south, Canadian oil companies are rethinking investment in one of North America's earliest and fastest-growing "unconventional" oil frontiers—Alberta's oil sands.

On Thursday, executives at Suncor Energy Inc., Canada's largest oil sands producer by output, said they were reviewing three multibillion-dollar mining and upgrading projects that it and its partners have been considering, and that they would delay a final decision about going ahead with any of them. The move will help Suncor slash capital spending this year by 11%, the company said.

The slowdown so far is limited, affecting only the industry's most expensive segment, which mines and upgrades bitumen into a low-sulphur, synthetic crude. Still, it underscores the extent to which today's booming North American energy-production growth remains at the mercy of market forces, which often reward higher output with lower prices. That dynamic can sap fresh investment incentives, especially in the case of the capital-intensive energy industry.

I've always said the Canadian oil sands were the canaries in the coal mine. Killing the Keystone XL didn't help (the Canadians), but it's been a godsend for the Bakken crude-by-rail industry.

On another note, the Jones Act was temporarily waived.

The Obama administration said it waived the requirement that only U.S. flagged ships carry goods between U.S. ports, an effort aimed at easing fuel shortages in the Northeast caused by superstorm Sandy.

“The administration’s highest priority is ensuring the health and safety of those impacted by Hurricane Sandy and this waiver will remove a potential obstacle to bringing additional fuel to the storm-damaged region,” Homeland Security Secretary Janet Napolitano said today in a statement. The waiver expires Nov. 13, she said.

New York Governor Andrew Cuomo said today he spoke with Napolitano about waiving the so-called Jones Act to speed deliveries of fuel to communities hammered by the storm. “The gasoline situation should get better,” Cuomo said at a news conference.

Yesterday I mentioned that there was a gasoline problem, and was told THE problem was electricity, and "everyone" has said there's plenty of fuel -- but without electricity, they can't access it. My hunch: in about three days when the electricity issue is resolved, folks are going to see how much diesel is used by trucks in the recovery effort throughout the northeast. I think we will see some new fuel records set in the northeast over the next six weeks.

And despite "no" electricity, CLEAN Energy was able to get 49 CNG fueling stations up and running.

Clean Energy Fuels Corp. today reported that 49 fueling stations in the seven states affected by Hurricane Sandy are operating and providing CNG (compressed natural gas) fuel to a wide range of fleets and individuals. The fleets provide needed emergency, transit and refuse services in New York, New Jersey, Massachusetts, Maryland, Connecticut, Rhode Island and Pennsylvania.

Municipalities and other organizations that are fueling at Clean Energy CNG stations include Atlantic County Utilities Authority, Atlantic City Jitney Association, which is providing emergency evacuation services, NY/NJ Port Authority, South Jersey Gas, Long Island Bus/Transit Authority, New York City Sanitation (DSNY), New York City MTA and numerous others throughout the region.

Thursday, November 1, 2012

On Tap For Friday; BEXP With Two Nice Wells; OXY Reports Another Well; Apple Sells Out Of iPad Minis at Flagship Boston Store; Unemployment Edges Up; Robust Hiring Past Month; Futures Up

Updates

November 5, 2012: contractors without "permission slips" are being turned away from tree-clearing work in Sandy-savaged New Jersey. Unlicensed homeowners are using unlicensed teenage children to clear downed limbs, trees, ... possibly even raking leaves. I can't make this stuff up. When you get to the linked story, there's only a video, but it's the comments that are a hoot and worth reading. "Nanny state" comes to mind.

November 3, 2012: see comments regarding union / non-union worker issues in New Jersey. I think it's becoming clearer. In fact, it probably occurred: union workers threatening non-union workers about entering the state of New Jersey. The "official" line from the companies is that they are not turning back "non-union workers" but that's at the home office, not in the trenches, where it is likely occurring. It is interesting that the governor has threatened to invoke his powers under the "Disaster Control Act" to preclude this from happening, but apparently to date he has not invoked those powers. The fact that the governor has made this threat, but stopped short, speaks volumes.

Later, 4:54 pm: the only question regarding the new Apple iPad mini? White/silver or black/slater? One has to actually hold the iPad mini to believe it. It is absolutely incredible. Superficially, it resembles the look and feel of the Kindle and/or the Barnes and Noble Nook but there's something about the iPad mini that seems to be so much more ... shall I say, solid? It certainly is more robust in what it can do. And it makes the MDW blog look stunning.

Original Post

I arrived at the Apple Store on Boylston Street, Boston, at 8:43 a.m. The line was about 30 people long, and they had closed it to any more coming in to look at/buy the iPad mini. They had been letting folks in at two or three at a time. They had already sold out the allotment of iPad minis (wi-fi version only) for today. But they will open at 10:00 a.m. for regular business. I will be there. Now at Starbucks down the street. Beautiful, beautiful day in downtown Boston.

Update: the iPad mini is incredible.

iPad mini promo

Drudge Report: unemployment higher today than when the president took office; what do we have to show for it? $16 trillion in debt. But markets look robust; futures up. Disclaimer: this is not an investment site. Oil down slightly. Americans are content/satisfied.

CVX: earnings drop by a third;

The following wells come off the confidential list:

11502, PNA --> loc (5/2/2012), Encore, Wegman 2-30, Horse Creek, a Red River well;
20689, drl, Zenergy, Patsy 5-8H, Siverston,
21468, 2,522, KOG, Koala 14-32-29-4H3, Poe, t9/12; cum 25K 9/12;
21505, 349, OXY USA, State Watkins 1-26-35H-143-95, Murphy Creek, t5/12; cum 20K 9/12;
21543, 3,203, BEXP, Knight 35-26 1H, Banks, t9/12; cum 20K 9/12;
22362, 593, CLR, Kolstad 1-28H, Corinth, t7/12; cum 16K 9/12;
22461, 3,545, BEXP, Liffrig 29-20 4H, Alger, t7/12; cum 53K 9/12;

On a completely different note, one certainly gets the feeling that the lack of gasoline and electricity outage in NYC is going to become a much bigger story than most folks initially realized. Drudge always gets it right. He reports that non-union crews were turned away from New Jersey; then recalls the president's "no-red-tape" pledge. Sounds like his "all-the-above" energy policy. Wow. [Update: on CNBC moments ago, 1:20 p.m., November 2, 2012: some union spokesmen are unhappy that the Jones Act was suspended during this emergency, because it might mean some work might not go to Americans during this recovery effort. Wow.]

And from CBS:

“Red Cross is here with hot chocolate and cookies. We need blankets, we need pillows, we need clothing. We can get hot chocolate and cookies, we need help!” resident Jodi Hannula said.

It was almost too much for Hannula to bear. She said she had 30 years of memories washed away by flood waters.

And with no flood insurance, she said she’s been pleading for help, but finding little.

“You hope that the government does the right thing and steps in and helps us out. We have been looking for FEMA, [but] FEMA has not been here,” Hannula said.

At least the Red Cross showed up. FEMA? They will be there next week with clipboards.

RBN Energy: propane.

Waiting for GMXR to report (I think they report ~~today~~ November 6?). I believe I may have posted this or linked this earlier; it was released earlier this month, GMXR update of two of their Bakken wells:

The Akovenko 24-34-2H (#21544), in which the Company has a 92% working interest, is the first Company-drilled well with oil-based mud. The well is located in Sections 27 & 34, Township 146N, Range 99W in McKenzie County North Dakota. The well reached total depth in less than 30 days and drilling costs were $4 million, in line with our estimates. The plug and perf completion is targeting the Middle Bakken, and we expect oil production to be in early November. This well will be the first plug and perf completion in McKenzie County for GMXR in the Middle Bakken and in a lateral drilled with oil-based mud. Fracture stimulation of the 40-stage well began this week. [Note, Akovenko 24-34-1H, GMXR, had an IP of 1,409, file #21545; it runs to the south, whereas "2H" runs to the north. "1H" had a nice IP but it's production has been lousy, and it has been off-line much of the time since being completed.]

The Lange 44-31-2H (#23634) in which the Company has a 89% working interest, is located in Sections 30 & 31, Township 147N, Range 99W in McKenzie County North Dakota. We expect the well to take approximately 30 days to reach total depth which will occur in early November. The well will be our second well drilled with oil-based mud and will be completed with a plug and perf fracture stimulation.

KOG: Lots of Ink To Explain Results; Those Darn Hedges

Link here to the press release.

For the third quarter 2012, the Company reported net income of $3.5 million, or $0.01 per basic and diluted share, compared with net income of $30.8 million, or $0.15 per basic and diluted share, for the same period in 2011.

Net income for the third quarter 2012 includes an unrealized loss of $36.7 million related to the mark-to-market of derivative instruments used for commodity hedging and $4.0 million in deferred income tax benefit.

The net effect of the non-cash hedging activities expense and non-cash deferred income tax benefit decreased Kodiak's reported net income for the third quarter 2012 by $0.12 per basic and diluted share.

When I get caught up, I might come back and post some data points regarding the results. The transcript should be interesting.

KOG shares traded very slightly lower during the day, but up slightly after hours. It will be interesting to see analysis of the results from Mike or others.