Permian Basin - Callon Petroleum (CPE) - Wolfcamp Formation

By Tim - http://oilshalegas.com

Callon Petroleum (CPE) is currently drilling for oil in the Permian Basin, Midland Basin, and the Wolfcamp Shale located in Texas. Callon Petroleum (CPE) provides details on this exploration below.

Net production from Callon's Permian properties increased 135% to 965 barrels of oil equivalent per day (Boe/d) in 2011 from 411 Boe/d in 2010. The company drilled 36 gross (33 net) vertical Wolfberry wells in 2011 and net production from the properties at year-end 2011 was approximately 1,300 Boe/d.

At the Pecan Acres Field, the two initial wells have been drilled and stimulated, and are currently flowing back in preparation for first production. In addition, a third well has been drilled, but not yet completed, and a fourth well is currently being drilled. Callon plans to complete the third and fourth wells in March 2012.

Based upon Callon's ongoing evaluation of its acreage position in the East Bloxom Field, located in Upton County, TX, and recent industry drilling results in northern Upton County and western Reagan County, TX, the company plans to commence a horizontal drilling program at its East Bloxom Field targeting the Wolfcamp B shale during the second quarter of 2012. Callon recently contracted a new-generation drilling rig under a two-year contract to execute the East Bloxom program.

Additionally, Callon has recently expanded its Permian Basin acreage position by 150% to 24,009 net acres from 9,539 net acres at December 31, 2011 with the acquisition of 16,020 gross (14,470 net) acres. The new leasehold is located in the northern portion of the Midland Basin which has had limited drilling activity relative to recent drilling and evaluation efforts in the southern portion of the basin. Callon has an average 90% working interest across the contiguous acreage positions and is the operator. The lease bonus payments were funded from existing cash balances. The company expects to acquire 3-D seismic data in the first half of 2012 and commence drilling to delineate the acreage in the third quarter of 2012. Callon has performed technical analysis of the newly acquired acreage and believes that the acreage is prospective for horizontal drilling of the Cline shale and vertical drilling of multiple intervals. Callon is continuing to pursue additional leasing opportunities in the area.

Callon produced 1.8 MMboe for the year 2011, comprised of 54% crude oil and 46% natural gas and natural gas liquids. The company's production and reserve growth initiatives continue to focus primarily on the Permian Basin, building a multi-year portfolio of oil-weighted drilling locations. In order to advance its growth plans, Callon will be directing a significant amount of its capital budget in 2012 to horizontal drilling and new acreage initiatives in the Permian Basin. The company believes the potential for increased production rates and improved capital efficiency from its horizontal drilling initiatives will enhance the quality of Callon's asset base as this program evolves over time.

Given the near-term production impact of a transition to horizontal drilling in 2012, including reduced vertical activity and the timing of initial production from horizontal completions, and scheduled downtime at the Medusa and Habanero Fields, the company estimates that full-year production for 2012 will approximate 1.7 – 1.9 MMboe. Importantly, Callon anticipates that Permian production will grow approximately 100% in 2012, reflecting the growing contribution of this basin to the company's total production.

http://blackberrystocks.blogspot.com/

http://www.oilshalegas.com/permianbasinoil.html

http://www.oilshalegas.com/wolfcampshale.html

Vaca Muerta Shale - Argentina Oil Shale Discovery

By Tim - http://oilshalegas.com

November 9, 2011 - There was a huge oil discovery this week in Argentina in the Vaca Muerta Shale. The Vaca Muerta Shale is said to have some of the same characteristics as the Eagle Ford Shale in Texas. EOG Resources (EOG) recently provided an update on this formation play.

"Before I close out the oil play discussion, I'll mentioned timing regarding our Argentina Vaca Muerta shale play, where we have approximately 100,000 net acres. We'll start our first well in the first quarter 2012, though we should have some results by late 2012." "We've got a well planned in the first part of next year. And the section we're targeting there, we've got data that shows that it's relatively thick, about 900 feet thick, and it's got about 150 million barrels per section of oil in place. So it's certainly a world-class potential rock.

Earlier this week, Repsol YPF SA said they plan to produce 50,000 barrels of oil from the Vaca Muerta Shale starting in 2014-2015. YPF announced Monday the potential of 927 million barrels of unconventional oil in Argentina's Neuquen Province, where the Vaca Muerta shale is located.

Shale News

OilShaleGas.com

Alberta Canada Oil Shale - Exshaw Shale

By Tim - http://oilshalegas.com

November 7, 2011 - Murphy Oil (MUR) recently gave an update on the Exshaw Shale Oil Field located in Southern Alberta Canada. The Exshaw Shale is an emerging oil field in Canada which also extends down into Montana.

"In Southern Alberta, our Exshaw Bakken appraisal program has completed the first phase. We have drilled a total of 6 wells, the last well is awaiting completion, 2 wells are showing productive capability in line with expectations, 1 well is producing at very low rates and 2 wells are shut in to evaluate. Overall, production results from the first phase of wells have been mixed, and we continue to evaluate the play to identify sweet spots and areas for improvement.

Shale News

OilShaleGas.com

Bakken Shale - Brigham Exploration BEXP - Top Oil Well

Brigham Exploration Co. (BEXP) gets my vote for Top company in the Bakken Shale in 2009. BEXP was basically left for dead during February & March of 2009 as institutions and mutual funds dumped the stock. Shares of Brigham Exploration Co. (BEXP) hit a low of $1.04.

The stock then rebounded with the overall stock market back into the $3's in May. Raymond James upgraded the stock and BEXP surged to $5 by August.

BEXP now trades just shy of $15 and is most likely headed to $25 in 2010.

Recently, Brigham Exploration Co. (BEXP) announced one of the best wells in the Bakken Shale of all time.

Brigham Exploration Announces Williston 25-36 #1H Bakken Well Produces at Initial Rate of Approximately 3,394 BOEPD

December 14, 2009 -- Brigham Exploration Company (NASDAQ: BEXP) announced that its operated Williston 25-36 #1H produced approximately 3,394 barrels of oil equivalent per day (2,769 Bopd and 3.75 MMcf/d) from the Bakken formation during an early 24 hour flow back period. The Williston was completed with 32 frac stages and represents Brigham's highest reported 24 hour flow back rate in the Williston Basin. Thus far, Brigham's nine long lateral high frac stage Bakken and Three Forks wells have averaged an early peak production rate of approximately 2,066 barrels of oil equivalent per day. Full Press Release Here



For my latest updates, visit http://blackberrystocks.blogspot.com/ or Subscribe for Free

Bakken Shale: Dunn County North Dakota

Today, 1/8/09, Kodiak Oil & Gas ( KOG ) has come out and given an operational update on the Bakken Shale and the Sanish/Three Forks region on the Bakken Shale. They have acerage positions in Dunn County, North Dakota.

Williston Basin Operations Update -- Dunn County, North Dakota

Kodiak's exploration efforts target oil and gas production from the middle member between the upper and lower Bakken shales, which is the source rock for existing hydrocarbons. The Three Forks/Sanish Formation, a productive interval lying directly below the lower Bakken shale, is also expected to be a future exploration target. Commercial production from the Three Forks/Sanish Formation is being reported by operators in the immediate area.

The Moccasin Creek (MC) #16-34-2H well (Kodiak operates with 60% working interest [WI] and 49% net revenue interest [NRI]) recently reached total depth. The well, located in the southwestern portion of Kodiak's leasehold, was drilled to an approximate total vertical depth (TVD) of 10,350 feet and a total measured depth (TMD) of 15,525 feet. During drilling operations, the wellbore encountered oil and gas shows in the lateral. A liner was run to total depth and completion work is tentatively scheduled after drilling of the MC #16-34H well is finished. The well successfully reached TMD in 38 days, which is within the Company's initial estimate of 40 days to total depth.

The drilling rig has been skid approximately 50 feet where drilling recently commenced on the MC #16-34H well (Kodiak operates with 60% WI and 49% NRI). The MC #16-34H is projected to be drilled to a TVD of 10,350 feet and proposed TMD of 14,800 feet.
Six miles east of the Moccasin Creek wells, Kodiak has completed construction of a drilling pad for the Charging Eagle (CE) #1-22-15H and the CE #1-22-23H wells. Approximately 10 miles north of the Moccasin Creek locations, a second drill pad is being constructed for the Two Shield Butte (TSB) #16-8H and the TSB #16-8-16H wells. Kodiak operates both locations and will utilize the skid package on its rig to move between wells, minimizing mobilization time and surface disturbance. Upon completion of the MC #16-34H well, the drilling rig will be moved to one of these drilling pads.

As of January 1, 2009, Kodiak had approximately 56,000 gross and 36,000 net acres under lease on the Fort Berthoud Indian Reservation (FBIR). Kodiak operates all of its leasehold on the FBIR, with the exception of approximately 9,000 net acres that are in a participating area previously established with another operator.

Bakken Shale: XTO Energy Oil Three Forks 11/05/08

One of XTO's Bakken Shale wells of producing 1750 barrels of Oil per day in the Three Forks / Sanish area. This is an amazing discovery!

XTO Energy Inc. (NYSE: XTO) announced today production results from wells drilled in multiple regions on its newly acquired property base. In the Bakken Shale play of North Dakota, the Company has now completed 5 wells with average production rates of 673 barrels of oil equivalent per day, primarily producing from the Middle Bakken shale section. In addition, a Three Forks/Sanish discovery well, the DeAngelis 41x-21, has been completed at an initial production rate of 1,750 barrels of oil equivalent, at a flowing tubing pressure of 2,200 pounds.
XTO currently operates four drilling rigs in this prolific oil basin and owns a leasehold position with over 450,000 acres.

In the Fayetteville Shale, where XTO has expanded its leasehold to 380,000 acres, the Company has recently drilled and completed 5 wells, with 4,000 feet lateral sections, at an average daily rate of 2.5 MMcf. In the Woodford Shale region, on newly acquired acreage, the Churchill 1-26 well is completed and producing 4.3 MMcf per day.

In the Farrar/Bear Grass Field of the Freestone Trend, the Beddingfield 6H, a horizontal Cotton Valley lime well, was recently completed at 8 MMcf per day. This well offsets producing leases, totaling about 5,500 acres, acquired in the Hunt Petroleum transaction where drilling activity will commence in early 2009. Also, XTO has spudded its first two horizontal Haynesville Shale wells on acquired leasehold in its Eastern Region. Finally, in its offshore producing region of the Gulf Coast, XTO has completed and tested the Main Pass 125-2 well, one of several identified development prospects, at an initial daily rate of 17 MMcf and 500 barrels of oil.

http://phx.corporate-ir.net/phoenix.zhtml?c=97780&p=irol-newsArticle&ID=1222303&highlight=

Eagle Ford Shale - South Texas Oil and Natural Gas

We did some research on the Eagle Ford Shale which has been tested in south Texas. There has been some nice Oil finds as well as natural gas. This shale play has potential!

We've identified three drillers:

Petrohawk Energy ( HK )
TXCO Resources ( TXCO )
St Mary Land & Exploration ( SM )

http://www.oilshalegas.com/eaglefordshale.html

Today, 10/21/08 - Petrohawk came out with positive results

http://blackberrystocks.blogspot.com/2008/10/eagle-ford-shale-petrohawk-hk-new-gas.html

Bakken Shale - CLR Continental Resources Update - Three Forks - Williams County, Divide County

This morning, Continental Resources ( CLR ), the biggest operator in North Dakota's Bakken Shale is out with an operational update and news on their Bakken Shale progress:

Continental Resources, Inc. (CLR) today announced initial production results for four wells that it recently completed in the northern portion of its North Dakota Bakken acreage, including its fifth well targeting the Three Forks/Sanish (TFS) formation.

The Omar 1-1H (41% WI) in Williams Co. flowed at an average rate of 1,126 barrels of crude oil equivalent per day (boepd) from the TFS formation during its seven-day production period test. The Omar 1-1H was drilled as a single lateral on 1,280-acre spacing.

Also in the northern portion of Continental's North Dakota acreage, the Company completed three wells targeting the Middle Bakken zone. The Company completed the Bliss 1-16H (54% WI) in Divide Co., the Skar 1-21H (54% WI) in Divide Co., and the Overlee 1-30H (54% WI) in Burke Co. for average rates of 476, 394 and 198 boepd respectively in their seven-day production period tests. The three wells were completed as single laterals on 1,280-acre spacing.
Continental is operating 10 rigs in the North Dakota Bakken play at this time, with six of those targeting the Three Forks/Sanish formation, which typically lies 50-to-125 feet below the Middle Bakken zone across the Company's North Dakota acreage.

"These four new completions further validate the productive potential of the northern part of our Bakken acreage," said Harold Hamm, Chairman and Chief Executive Officer. "We are in the process of completing three more TFS wells in this area at this time. Data from these will add to our understanding of the TFS potential in Burke, Divide and Williams counties."

Continental Resources is a crude-oil concentrated, independent oil and natural gas exploration and production company with operations in the Rocky Mountain, Mid-Continent and Gulf Coast regions of the United States. The Company focuses its operations in large new and developing resource plays where horizontal drilling, advanced fracture stimulation and enhanced recovery technologies provide the means to economically develop and produce oil and natural gas reserves from unconventional formations.

CLR is also active in the Haynesville Shale in Louisiana.

Green River Formation Basin - Oil Shale - BLM to offer 1.90 acres 9/5/08

The Bureau of Land Management ( BLM ) is planning to lease out 1.9 Million acres for oil shale development in the Green River Shale Basin.


The U.S. Bureau of Land Management issued a plan to set aside 1.9 million acres in Utah, Wyoming and Colorado for development of oil from shale and tar sands.
Under the plan, announced in the Federal Register today, the bureau must create rules that govern the leasing and development of the resources. The bureau estimates that Western lands hold the equivalent of 800 billion barrels of oil.

More on the Green River Oil Shale - http://www.oilshalegas.com/greenriveroilshale.html

Haynesville Shale Update - 7/30 - CLR, - Bakken Shale

I wanted to give a Haynesville Shale update this morning on a new company drilling the Haynesville.


Continental Resources ( CLR )


Continental CLR is now drilling at the Haynesville Shale....as you can recall from my other blog posts, they are the largest operator in the Bakken Shale Oil Field in North Dakota. Continental Resources has 17,000 acres in Louisiana but aren't saying in what parishes. They will be spudding their first well in the 4th quarter.

Leasing News

Broadmoor Neighborhood Association

Approximately 475 to 500 local residents attended this Haynesville Shale meeting at 6:30 p.m. July 22 the Captain Shreve High School auditorium.
BNA had strongly recommended homeowners hold off on signing oil/gas leases until attending the meeting to listen and discuss various matters related to mineral leases, bonus payments, drilling and other related topics. Nonbinding letters of intent for membership in Shreve Centre Coalition LLC, legal since July 18, were distributed to attendees. BNA President Ken Krefft served as moderator at the panel discussion, which included a question-and-answer session.


To view all of the stock of companies drilling in the Shale plays in Canada and the USA....visit http://oilshalegas.com

Bakken Shale - Encore EAC - Sanish Well Results

Today Encore Aquisition Company ( EAC ) has updated its investors on their Bakken Shale Play.

EAC today reported initial results from its first well drilled in the Sanish Formation of the Bakken Shale Trend.

Encore recently finished drilling and completing its first well in the Sanish Formation of the Bakken Shale Trend, the Charlson 11-16H, in Williams County, North Dakota. The well was brought online on July 23 at an initial production rate of 1,106 BOE per day flowing up 7" casing. The Company has a 96 percent working interest in the well, which also contains very favorable pay in the Bakken Formation. The well is approximately four miles northwest of the best Sanish well drilled to date in North Dakota, the USA 2D-3-1H, which has produced over 560,000 BOE in 19 months.

Encore owns 10,400 net acres in the Charlson area and can drill or participate in an additional 28 wells on its current acreage position in this area of the Sanish. The Company is currently drilling a second Sanish well in the Charlson Field, which it plans to complete in the third quarter. Encore plans to drill a total of six wells in the Sanish in the Charlson Field in 2008. Additionally, two other Sanish wells will be drilled in the Charlson area offsetting the USA 2D-3-1H well. This area is prospective for both the Sanish and Bakken Formations, which could significantly add to the total recoverable reserves under the Company's leases.

As previously disclosed, Encore has recently expanded its acreage position in the Bakken and Sanish Shale Play to over 240,000 net acres. Encore plans to add a third rig to drill Bakken and Sanish wells in August 2008. Upon arrival of the additional rig, Encore plans to drill a Sanish well in its Cherry Creek Prospect, where the Company owns a significant lease position of approximately 70,000 net acres. Encore believes its Cherry Creek Prospect is in the Sanish fairway. The Company also plans to commence drilling in August in the Company's Almond Prospect, in Mountrail and Ward Counties, North Dakota, in which the Company currently holds an acreage position of approximately 53,000 net acres. The Almond Prospect is prospective for both the Sanish and Bakken Formations. The Company expects to drill and complete five-to-six Bakken and Sanish wells in the third quarter of 2008, as well as re-frac several current Bakken producers.

Oil Shale - Green River Basin Formation

The Green River Formation in Colorado, Wyoming, and Utah hold over 750 billion barrels of recoverable oil from oil shale. This region could one day reduce our dependence on foreign oil.

While the land is held in federal hands, they are leasing land out to companies for testing purposes. Shell oil company is one of those companies. Shell is testing one specific location in Colorado about the size of a football field. Shell is testing the freeze wall which keeps water out of the production area while they basically heat and extract the oil from shale.

For more on the Green River
Formation...visit http://www.oilshalegas.com/greenriveroilshale.html

Bakken Shale Discovery - BEXP Brigham

Brigham Exploration today announced that the well they have drilling is hitting over 700 barrels of Oil per day. Their first well is hitting over 600 barrels per day in oil equivalent.

Big news out of the Bakken Shale! Continental Resources last week said their well was hitting over 1000 barrels a day with half being natural gas.

For more of the Bakken Shale....visit these two websites

http://www.oilshalegas.com/bakkenshale.html

http://bakkenshale.net

Bakken Shale News CLR

Continental Resources CLR is out with some exciting news from the Bakken Oil Shale. Their second well is hitting over 1,000 barrels of oil a day with 10% of that being natural gas. The Bakken Shale is in North Dakota and Canada.

You can find more about this news and about Bakken Shale here

http://www.oilshalegas.com/bakkenshale.html

Also, Check out the Utica Shale page we just put up

http://www.oilshalegas.com/uticashale.html