By Andrea: http://oilshalegas.com
An additional 10,000 net acres of leaseholds were recently acquired by MDU Resources Group, Inc. (MDU) in the Heart River area of the Bakken, bringing its total acreage position in the Bakken oil play to more than 67,000 net acres. In 2010, the company acquired more than 50,000 net exploratory acres in the North Dakota Bakken area, bringing its total acreage position in this oil play to more than 67,000 net acres. The newly acquired acreage, the Heart River project, is located in Stark County. Plans include drilling three exploratory wells this year to evaluate this acreage targeting the Three Forks formation. Initial lease terms extend up to five years and include renewal options available to the company.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Friday, January 7, 2011
Goshen County, WY - Niobrara Shale Update
By Andrea: http://oilshalegas.com
MDU Resources Group Inc. (MDU) announced recently that they are active in the Niobrara Oil Play - Earlier this year, the natural gas and oil business acquired approximately 88,000 net acres in the emerging Niobrara oil shale play. Since that time, interest and leasehold costs in the play have increased. The company recently signed an agreement to sell a 25 percent working interest to a well-capitalized partner, which helps manage the company’s overall portfolio risk and capital requirements.
Also in 2010, the company acquired approximately 88,000 net exploratory acres in the emerging Niobrara oil play in Laramie and Goshen Counties in southeastern Wyoming. In October 2010, an agreement was signed to sell a 25 percent working interest in this acreage, reducing the company’s portfolio risk and capital requirements, bringing its acreage position to approximately 66,000 net acres. The company plans to begin drilling exploratory wells in the area in 2011. Lease terms are generally five years with most having five-year renewal options available to the company
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
MDU Resources Group Inc. (MDU) announced recently that they are active in the Niobrara Oil Play - Earlier this year, the natural gas and oil business acquired approximately 88,000 net acres in the emerging Niobrara oil shale play. Since that time, interest and leasehold costs in the play have increased. The company recently signed an agreement to sell a 25 percent working interest to a well-capitalized partner, which helps manage the company’s overall portfolio risk and capital requirements.
Also in 2010, the company acquired approximately 88,000 net exploratory acres in the emerging Niobrara oil play in Laramie and Goshen Counties in southeastern Wyoming. In October 2010, an agreement was signed to sell a 25 percent working interest in this acreage, reducing the company’s portfolio risk and capital requirements, bringing its acreage position to approximately 66,000 net acres. The company plans to begin drilling exploratory wells in the area in 2011. Lease terms are generally five years with most having five-year renewal options available to the company
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Thursday, January 6, 2011
McMullen County, TX: Eagle Ford Shale Update
By Andrea: http://oilshalegas.com
Comstock Resources Inc. (CRK) has initiated development of its Eagle Ford shale acreage in Atascosa, Karnes and McMullen counties in South Texas. Comstock has drilled the Rancho Tres Hijos #1H in McMullen county to a vertical depth of 11,020 feet with a 4,091 lateral and has drilled the NWR #1H in Atascosa county to a vertical depth of 8,715 feet with a 5,209 foot lateral. These wells are scheduled for completion in November. Comstock is currently drilling its third Eagle Ford shale well in Karnes county.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Comstock Resources Inc. (CRK) has initiated development of its Eagle Ford shale acreage in Atascosa, Karnes and McMullen counties in South Texas. Comstock has drilled the Rancho Tres Hijos #1H in McMullen county to a vertical depth of 11,020 feet with a 4,091 lateral and has drilled the NWR #1H in Atascosa county to a vertical depth of 8,715 feet with a 5,209 foot lateral. These wells are scheduled for completion in November. Comstock is currently drilling its third Eagle Ford shale well in Karnes county.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Comstock Resources (CRK): Bossier Shale Update
By Andrea: http://oilshalegas.com
In the East Texas/North Louisiana region, Comstock Resources (CRK) has drilled 55 wells (33.6 net) in 2010. Fifty-four of the wells are Haynesville or Bossier shale wells. As of November 1, 2010, twenty-four of the 54 Haynesville or Bossier shale wells drilled in 2010 have been completed and were put on production at an average per well initial production rate of 10.8 MMcfe per day. Comstock expects to complete fourteen operated Haynesville or Bossier shale wells in the fourth quarter. In addition to its Haynesville shale horizontal drilling program, Comstock has drilled two vertical wells during 2010. Comstock successfully completed a Cotton Valley well in its Blocker field in East Texas.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
In the East Texas/North Louisiana region, Comstock Resources (CRK) has drilled 55 wells (33.6 net) in 2010. Fifty-four of the wells are Haynesville or Bossier shale wells. As of November 1, 2010, twenty-four of the 54 Haynesville or Bossier shale wells drilled in 2010 have been completed and were put on production at an average per well initial production rate of 10.8 MMcfe per day. Comstock expects to complete fourteen operated Haynesville or Bossier shale wells in the fourth quarter. In addition to its Haynesville shale horizontal drilling program, Comstock has drilled two vertical wells during 2010. Comstock successfully completed a Cotton Valley well in its Blocker field in East Texas.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Red River Parish, LA: Bossier Shale Update
By Andrea: http://oilshalegas.com
Forest Oil Corp. (FST) drilled and completed three wells in the third quarter of 2010. In order to optimize recovery from Haynesville / Bossier Shale wells, Forest has adopted a restricted flow rate production program. With this operating strategy, initial production rates from the last three wells were curtailed at 11 to 13 MMcfe/d. Results have shown that cumulative production from the restricted-rate wells has exceeded the cumulative production from comparable unrestricted wells after approximately 90 days. Further, early indications support expectations that estimated ultimate recoveries for restricted-rate wells should exceed recoveries for less restricted wells.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Forest Oil Corp. (FST) drilled and completed three wells in the third quarter of 2010. In order to optimize recovery from Haynesville / Bossier Shale wells, Forest has adopted a restricted flow rate production program. With this operating strategy, initial production rates from the last three wells were curtailed at 11 to 13 MMcfe/d. Results have shown that cumulative production from the restricted-rate wells has exceeded the cumulative production from comparable unrestricted wells after approximately 90 days. Further, early indications support expectations that estimated ultimate recoveries for restricted-rate wells should exceed recoveries for less restricted wells.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Wednesday, January 5, 2011
Exxon Mobile Corp. (XOM) - Bossier Shale Update
By Andrea: http://oilshalegas.com
During the 3rd quarter of 2010, Exxon Mobile Corp. (XOM) finalized a merger agreement with Ellora Energy. This acquisition has increased our position in the attractive Haynesville/Bossier plays by 46,000 acres and added current production and pipeline capacity. In addition, our gas marketing team is working with XTO to optimize shipping, processing and marketing activities across our United States portfolio. We are also capturing reverse integration benefits in legacy Exxon Mobil operations both in the United States and overseas.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
During the 3rd quarter of 2010, Exxon Mobile Corp. (XOM) finalized a merger agreement with Ellora Energy. This acquisition has increased our position in the attractive Haynesville/Bossier plays by 46,000 acres and added current production and pipeline capacity. In addition, our gas marketing team is working with XTO to optimize shipping, processing and marketing activities across our United States portfolio. We are also capturing reverse integration benefits in legacy Exxon Mobil operations both in the United States and overseas.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Karnes County, Texas: Eagle Ford Shale Update
By Andrea: http://oilshalegas.com
Comstock Resources Inc. (CRK) has initiated development of its Eagle Ford shale acreage in Atascosa, Karnes and McMullen counties in South Texas. Comstock has drilled the Rancho Tres Hijos #1H in McMullen county to a vertical depth of 11,020 feet with a 4,091 lateral and has drilled the NWR #1H in Atascosa county to a vertical depth of 8,715 feet with a 5,209 foot lateral. These wells are scheduled for completion in November. Comstock is currently drilling its third Eagle Ford shale well in Karnes county.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Comstock Resources Inc. (CRK) has initiated development of its Eagle Ford shale acreage in Atascosa, Karnes and McMullen counties in South Texas. Comstock has drilled the Rancho Tres Hijos #1H in McMullen county to a vertical depth of 11,020 feet with a 4,091 lateral and has drilled the NWR #1H in Atascosa county to a vertical depth of 8,715 feet with a 5,209 foot lateral. These wells are scheduled for completion in November. Comstock is currently drilling its third Eagle Ford shale well in Karnes county.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Tuesday, January 4, 2011
Exxon Mobile Corp. (XOM) - Haynesville Shale Update
By Andrea: http://oilshalegas.com
During the 3rd quarter of 2010, Exxon Mobile Corp. (XOM) finalized a merger agreement with Ellora Energy. This acquisition has increased our position in the attractive Haynesville/Bossier plays by 46,000 acres and added current production and pipeline capacity. In addition, our gas marketing team is working with XTO to optimize shipping, processing and marketing activities across our United States portfolio. We are also capturing reverse integration benefits in legacy Exxon Mobil operations both in the United States and overseas.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
During the 3rd quarter of 2010, Exxon Mobile Corp. (XOM) finalized a merger agreement with Ellora Energy. This acquisition has increased our position in the attractive Haynesville/Bossier plays by 46,000 acres and added current production and pipeline capacity. In addition, our gas marketing team is working with XTO to optimize shipping, processing and marketing activities across our United States portfolio. We are also capturing reverse integration benefits in legacy Exxon Mobil operations both in the United States and overseas.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Stark County, ND - Bakken Shale Update
By Andrea: http://oilshalegas.com
An additional 10,000 net acres of leaseholds were recently acquired by MDU Resources Group, Inc. (MDU) in the Heart River area of the Bakken, bringing its total acreage position in the Bakken oil play to more than 67,000 net acres. In 2010, the company acquired more than 50,000 net exploratory acres in the North Dakota Bakken area, bringing its total acreage position in this oil play to more than 67,000 net acres. The newly acquired acreage, the Heart River project, is located in Stark County. Plans include drilling three exploratory wells this year to evaluate this acreage targeting the Three Forks formation. Initial lease terms extend up to five years and include renewal options available to the company.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
An additional 10,000 net acres of leaseholds were recently acquired by MDU Resources Group, Inc. (MDU) in the Heart River area of the Bakken, bringing its total acreage position in the Bakken oil play to more than 67,000 net acres. In 2010, the company acquired more than 50,000 net exploratory acres in the North Dakota Bakken area, bringing its total acreage position in this oil play to more than 67,000 net acres. The newly acquired acreage, the Heart River project, is located in Stark County. Plans include drilling three exploratory wells this year to evaluate this acreage targeting the Three Forks formation. Initial lease terms extend up to five years and include renewal options available to the company.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Laramie County, WY - Niobrara Shale Update
By Andrea: http://oilshalegas.com
MDU Resources Group Inc. (MDU) announced recently that they are active in the Niobrara Oil Play - Earlier this year, the natural gas and oil business acquired approximately 88,000 net acres in the emerging Niobrara oil shale play. Since that time, interest and leasehold costs in the play have increased. The company recently signed an agreement to sell a 25 percent working interest to a well-capitalized partner, which helps manage the company’s overall portfolio risk and capital requirements.
Also in 2010, the company acquired approximately 88,000 net exploratory acres in the emerging Niobrara oil play in Laramie and Goshen Counties in southeastern Wyoming. In October 2010, an agreement was signed to sell a 25 percent working interest in this acreage, reducing the company’s portfolio risk and capital requirements, bringing its acreage position to approximately 66,000 net acres. The company plans to begin drilling exploratory wells in the area in 2011. Lease terms are generally five years with most having five-year renewal options available to the company
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
MDU Resources Group Inc. (MDU) announced recently that they are active in the Niobrara Oil Play - Earlier this year, the natural gas and oil business acquired approximately 88,000 net acres in the emerging Niobrara oil shale play. Since that time, interest and leasehold costs in the play have increased. The company recently signed an agreement to sell a 25 percent working interest to a well-capitalized partner, which helps manage the company’s overall portfolio risk and capital requirements.
Also in 2010, the company acquired approximately 88,000 net exploratory acres in the emerging Niobrara oil play in Laramie and Goshen Counties in southeastern Wyoming. In October 2010, an agreement was signed to sell a 25 percent working interest in this acreage, reducing the company’s portfolio risk and capital requirements, bringing its acreage position to approximately 66,000 net acres. The company plans to begin drilling exploratory wells in the area in 2011. Lease terms are generally five years with most having five-year renewal options available to the company
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Nexen Inc. (NXY) - Horn River Basin Update
By Andrea: http://oilshalegas.com
During the third quarter, Nexen Inc.(NXY) completed a 144 frac program on their eight-well pad in the Horn River at an industry-leading pace of 3.5 fracs per day with a 100% frac success rate. Earlier this year, they completed their drilling campaign here at an average rate of under 25 days per well. Compared to their previous program, these wells were drilled in 35% fewer days and were 80% longer. They recently started production testing these wells and expect to reach peak production rates of 50 mmcf/d this winter. They plan to follow up this successful program with a nine well pad that would start drilling this winter. The wells would be fraced and completed next summer with first production in the fourth quarter of 2011. This allows them to advance their Horn River play while they progress their plans for an 18-well pad to be drilled next winter with first production expected in late 2012.
"Our performance in the Horn River continues to be top quartile with the successful execution of our drilling and frac strategies. This type of execution will lead to higher returns on this business," commented Romanow. "This play is expected to earn a ten percent rate of return with gas prices at US$4/mcf."
Nexen has approximately 90,000 acres at Dilly Creek in the Horn River basin. As previously announced, their Dilly Creek lands contain between 3 and 6 trillion cubic feet (0.5 to 1.0 billion barrels of oil equivalent) of recoverable contingent resource, assuming a 20% recovery factor. Following their success at a June land sale, they now have over 300,000 acres of highly prospective shale gas lands in the Horn River, Cordova and Liard basins in northeast British Columbia.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
During the third quarter, Nexen Inc.(NXY) completed a 144 frac program on their eight-well pad in the Horn River at an industry-leading pace of 3.5 fracs per day with a 100% frac success rate. Earlier this year, they completed their drilling campaign here at an average rate of under 25 days per well. Compared to their previous program, these wells were drilled in 35% fewer days and were 80% longer. They recently started production testing these wells and expect to reach peak production rates of 50 mmcf/d this winter. They plan to follow up this successful program with a nine well pad that would start drilling this winter. The wells would be fraced and completed next summer with first production in the fourth quarter of 2011. This allows them to advance their Horn River play while they progress their plans for an 18-well pad to be drilled next winter with first production expected in late 2012.
"Our performance in the Horn River continues to be top quartile with the successful execution of our drilling and frac strategies. This type of execution will lead to higher returns on this business," commented Romanow. "This play is expected to earn a ten percent rate of return with gas prices at US$4/mcf."
Nexen has approximately 90,000 acres at Dilly Creek in the Horn River basin. As previously announced, their Dilly Creek lands contain between 3 and 6 trillion cubic feet (0.5 to 1.0 billion barrels of oil equivalent) of recoverable contingent resource, assuming a 20% recovery factor. Following their success at a June land sale, they now have over 300,000 acres of highly prospective shale gas lands in the Horn River, Cordova and Liard basins in northeast British Columbia.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Atascosa County: Eagle Ford Shale Update
By Andrea: http://oilshalegas.com
Comstock Resources Inc. (CRK) has initiated development of its Eagle Ford shale acreage in Atascosa, Karnes and McMullen counties in South Texas. Comstock has drilled the Rancho Tres Hijos #1H in McMullen county to a vertical depth of 11,020 feet with a 4,091 lateral and has drilled the NWR #1H in Atascosa county to a vertical depth of 8,715 feet with a 5,209 foot lateral. These wells are scheduled for completion in November. Comstock is currently drilling its third Eagle Ford shale well in Karnes county.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Comstock Resources Inc. (CRK) has initiated development of its Eagle Ford shale acreage in Atascosa, Karnes and McMullen counties in South Texas. Comstock has drilled the Rancho Tres Hijos #1H in McMullen county to a vertical depth of 11,020 feet with a 4,091 lateral and has drilled the NWR #1H in Atascosa county to a vertical depth of 8,715 feet with a 5,209 foot lateral. These wells are scheduled for completion in November. Comstock is currently drilling its third Eagle Ford shale well in Karnes county.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Comstock Resources (CRK): Haynesville Shale Update
By Andrea: http://oilshalegas.com
In the East Texas/North Louisiana region, Comstock Resources (CRK) has drilled 55 wells (33.6 net) in 2010. Fifty-four of the wells are Haynesville or Bossier shale wells. As of November 1, 2010, twenty-four of the 54 Haynesville or Bossier shale wells drilled in 2010 have been completed and were put on production at an average per well initial production rate of 10.8 MMcfe per day. Comstock expects to complete fourteen operated Haynesville or Bossier shale wells in the fourth quarter. In addition to its Haynesville shale horizontal drilling program, Comstock has drilled two vertical wells during 2010. Comstock successfully completed a Cotton Valley well in its Blocker field in East Texas.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
In the East Texas/North Louisiana region, Comstock Resources (CRK) has drilled 55 wells (33.6 net) in 2010. Fifty-four of the wells are Haynesville or Bossier shale wells. As of November 1, 2010, twenty-four of the 54 Haynesville or Bossier shale wells drilled in 2010 have been completed and were put on production at an average per well initial production rate of 10.8 MMcfe per day. Comstock expects to complete fourteen operated Haynesville or Bossier shale wells in the fourth quarter. In addition to its Haynesville shale horizontal drilling program, Comstock has drilled two vertical wells during 2010. Comstock successfully completed a Cotton Valley well in its Blocker field in East Texas.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Red River Parish, LA: Haynesville Shale Update
By Andrea: http://oilshalegas.com
Forest Oil Corp. (FST) drilled and completed three wells in the third quarter of 2010. In order to optimize recovery from Haynesville / Bossier Shale wells, Forest has adopted a restricted flow rate production program. With this operating strategy, initial production rates from the last three wells were curtailed at 11 to 13 MMcfe/d. Results have shown that cumulative production from the restricted-rate wells has exceeded the cumulative production from comparable unrestricted wells after approximately 90 days. Further, early indications support expectations that estimated ultimate recoveries for restricted-rate wells should exceed recoveries for less restricted wells.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Forest Oil Corp. (FST) drilled and completed three wells in the third quarter of 2010. In order to optimize recovery from Haynesville / Bossier Shale wells, Forest has adopted a restricted flow rate production program. With this operating strategy, initial production rates from the last three wells were curtailed at 11 to 13 MMcfe/d. Results have shown that cumulative production from the restricted-rate wells has exceeded the cumulative production from comparable unrestricted wells after approximately 90 days. Further, early indications support expectations that estimated ultimate recoveries for restricted-rate wells should exceed recoveries for less restricted wells.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Forest Oil Corp. (FSP)- Granite Wash Update
By Andrea: http://oilshalegas.com
Forest Oil Corp. (FSP) drilled and completed seven Granite Wash wells in the third quarter of 2010 that had an average 24-hour initial production rate of 27 MMcfe/d.
The results from the seven wells in the third quarter bring Forest's average 24-hour initial production rate from its horizontal Granite Wash program to 28 MMcfe/d. The program continues to expand the play both geographically, further north into Hemphill County, Texas, and geologically, with completions in two Granite Wash zones and one Atoka zone during the quarter.
Forest successfully tested an operated well with a 24-hour initial production rate of 16 MMcfe/d in its Canadian Southeast acreage in Hemphill County. Over 1,000 Bbls/d of this equivalent rate was attributable to condensate and NGLs. In addition, Forest participated with a non-operated working interest in a well in Canadian Southeast that had a 24-hour initial production rate of 15 MMcfe/d, including a sizable liquids component. Each of these wells confirmed the existence of highly productive, liquids-rich pay intervals in Forest's Canadian Southeast acreage. Drilling and completion costs associated with wells in this acreage position are expected to be less than wells in Wheeler County due to shallower depths. These wells are expected to open Forest's Canadian Southeast acreage to expanded exploitation efforts using horizontal drilling.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Forest Oil Corp. (FSP) drilled and completed seven Granite Wash wells in the third quarter of 2010 that had an average 24-hour initial production rate of 27 MMcfe/d.
The results from the seven wells in the third quarter bring Forest's average 24-hour initial production rate from its horizontal Granite Wash program to 28 MMcfe/d. The program continues to expand the play both geographically, further north into Hemphill County, Texas, and geologically, with completions in two Granite Wash zones and one Atoka zone during the quarter.
Forest successfully tested an operated well with a 24-hour initial production rate of 16 MMcfe/d in its Canadian Southeast acreage in Hemphill County. Over 1,000 Bbls/d of this equivalent rate was attributable to condensate and NGLs. In addition, Forest participated with a non-operated working interest in a well in Canadian Southeast that had a 24-hour initial production rate of 15 MMcfe/d, including a sizable liquids component. Each of these wells confirmed the existence of highly productive, liquids-rich pay intervals in Forest's Canadian Southeast acreage. Drilling and completion costs associated with wells in this acreage position are expected to be less than wells in Wheeler County due to shallower depths. These wells are expected to open Forest's Canadian Southeast acreage to expanded exploitation efforts using horizontal drilling.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
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