Showing posts with label mineral rights leases. Show all posts
Showing posts with label mineral rights leases. Show all posts

Wednesday, November 9, 2011

McKenzie County, ND - Bakken Shale


November 9, 2011 - Kodiak Oil & Gas (KOG) recently gave an update on their
McKenzie County North Dakota Bakken Shale and Three Forks Play. Kodiak Oil & Gas (KOG) is one of the up and coming exploration companies in the Bakken Shale due to their aggressive mineral rights leasing binge.

Kodiak’s five operated drilling rigs are presently drilling ahead on multi-well drilling pads. Three rigs are drilling in McKenzie County, and two rigs are drilling in Dunn County.

For the remainder of the fourth quarter 2011, Kodiak expects to complete or commence completion operations on an additional nine gross (6.1 net) operated wells, including two gross (0.8 net) wells from the recent acquisition. These operated wells are located on four drilling pads consisting of three, two-well pads and one, three-well pad. Drilling has been completed and operations are underway to construct surface equipment and pipelines on each of the pads. Currently, two gross (0.8 net) wells have been completed and are in flow-back operations. The remaining seven gross (6.6 net) wells are expected to commence completion operations during the remainder of the fourth quarter.

“We continue to make excellent wells in both Dunn and McKenzie Counties, which are integral to our production and cash flow growth trajectory we intend to provide our shareholders. One particularly positive development is the continued strong production profile from our first Three Forks well located in the McKenzie County Koala Project area. As shown above through the first 90 days of production, the well averaged nearly 1,000 BOE/d and is mirroring the offsetting Bakken well drilled just 700 feet away. With additional Three Forks production data, we can provide more accurate estimated ultimate recoveries for the Three Forks in the Koala area. We will also closely monitor the production profile from our two recent Dunn County Three Forks completions which have generated encouraging results.





Tuesday, November 8, 2011

Dunn County, North Dakota Bakken Shale


November 8, 2011 - Kodiak Oil & Gas (KOG) recently gave an update on their Dunn County, North Dakota Bakken Shale and Three Forks Play. Kodiak Oil & Gas (KOG) is one of the up and coming exploration companies in the Bakken Shale due to their aggressive mineral rights leasing binge.

Kodiak’s five operated drilling rigs are presently drilling ahead on multi-well drilling pads. Three rigs are drilling in McKenzie County, and two rigs are drilling in Dunn County.

For the remainder of the fourth quarter 2011, Kodiak expects to complete or commence completion operations on an additional nine gross (6.1 net) operated wells, including two gross (0.8 net) wells from the recent acquisition. These operated wells are located on four drilling pads consisting of three, two-well pads and one, three-well pad. Drilling has been completed and operations are underway to construct surface equipment and pipelines on each of the pads. Currently, two gross (0.8 net) wells have been completed and are in flow-back operations. The remaining seven gross (6.6 net) wells are expected to commence completion operations during the remainder of the fourth quarter.

“We continue to make excellent wells in both Dunn and McKenzie Counties, which are integral to our production and cash flow growth trajectory we intend to provide our shareholders. One particularly positive development is the continued strong production profile from our first Three Forks well located in the McKenzie County Koala Project area. As shown above through the first 90 days of production, the well averaged nearly 1,000 BOE/d and is mirroring the offsetting Bakken well drilled just 700 feet away. With additional Three Forks production data, we can provide more accurate estimated ultimate recoveries for the Three Forks in the Koala area. We will also closely monitor the production profile from our two recent Dunn County Three Forks completions which have generated encouraging results.



Chesapeake Energy (CHK) -Tuscaloosa Marine Shale


November 8, 2011 - Chesapeake Energy (CHK) said in their last conference call that they will not be chasing land acreage in the Tuscaloosa Marine Shale. Chesapeake Energy (CHK) said that based on what they are seeing, mineral rights are to expensive in the Tuscaloosa Marine Shale. They also stated that they will not be chasing anything in California such as the Elm County Field or the Monterey Shale.

The Tuscaloosa Marine Shale has been hitting the news lately on some nice oil wells being drilled. The Tuscaloosa Marine Shale is located in south Louisiana and Mississippi.



Monday, November 7, 2011

Eagle Ford Shale - Price Cost Per Acre - Mineral Rights Leases


November 7, 2011 - Whiting Petroleum (WLL) recently announced some good Eagle Ford Shale mineral rights leasing data. They sold 3,532 Eagle Ford Shale acres in Karnes County, Live Oak County, and DeWitt County Texas for a total of $66.4 Million.

Prospective Eagle Ford Acreage Sold for $66.4 Million, $12,542 per Net Acre

"During the third quarter, Whiting sold approximately 3,532 net leasehold acres prospective for oil and gas production from the Eagle Ford formation in Karnes, Live Oak and Dewitt Counties, Texas for a total cash consideration of $66.4 million before closing adjustments. The transaction, which was effective July 1, 2011, closed on September 29, 2011. Whiting used the net proceeds from the property sale to reduce the amount drawn under its Credit Agreement.

The non-core acreage sold is located in Kawitt, Nordheim and Three Rivers Fields, which produce from the Speary, Edwards, Wilcox and Eagle Ford formations. Recent net daily production was approximately 4.0 MMcfe from 33 producing wells. The property sale also included 16 shut-in and temporarily abandoned wells. The estimated proved net reserves associated with the producing properties were 1.1 MMBOE. Whiting valued the existing production in the transaction at $22.1 million net of plugging liabilities and the acreage at $44.3 million net of the production value, or approximately $12,542 per net acre."



Sunday, November 6, 2011

Bakken Shale - Kodiak Oil & Gas (KOG)


November 6, 2011 - Kodiak Oil & Gas (KOG) recently gave an update on the Bakken Shale and Three Forks Play. Kodiak Oil & Gas (KOG) is one of the up and coming exploration companies in the Bakken Shale due to their aggressive mineral rights leasing binge.

Kodiak’s five operated drilling rigs are presently drilling ahead on multi-well drilling pads. Three rigs are drilling in McKenzie County, and two rigs are drilling in Dunn County.

For the remainder of the fourth quarter 2011, Kodiak expects to complete or commence completion operations on an additional nine gross (6.1 net) operated wells, including two gross (0.8 net) wells from the recent acquisition. These operated wells are located on four drilling pads consisting of three, two-well pads and one, three-well pad. Drilling has been completed and operations are underway to construct surface equipment and pipelines on each of the pads. Currently, two gross (0.8 net) wells have been completed and are in flow-back operations. The remaining seven gross (6.6 net) wells are expected to commence completion operations during the remainder of the fourth quarter.

“We continue to make excellent wells in both Dunn and McKenzie Counties, which are integral to our production and cash flow growth trajectory we intend to provide our shareholders. One particularly positive development is the continued strong production profile from our first Three Forks well located in the McKenzie County Koala Project area. As shown above through the first 90 days of production, the well averaged nearly 1,000 BOE/d and is mirroring the offsetting Bakken well drilled just 700 feet away. With additional Three Forks production data, we can provide more accurate estimated ultimate recoveries for the Three Forks in the Koala area. We will also closely monitor the production profile from our two recent Dunn County Three Forks completions which have generated encouraging results.



Continental Resources (CLR) - Bakken Shale


November 6, 2011 - Continental Resources, Inc. (NYSE:CLR) recently gave an update on the Bakken Shale and Three Forks Play. Continental Resources, Inc. (CLR) is the leader in the Bakken Formation with over 900,000 acres of mineral rights leases.

The Company successfully completed the Charlotte 2-22H (91% WI) in McKenzie County, North Dakota, in October 2011, with the well producing 1,140 gross Boepd in its initial one-day test period. This is the Company's first horizontal test of a deeper bench in the Three Forks formation.

In terms of Company-operated wells, Continental completed 46 gross (24.5 net) wells in the Bakken in the third quarter. Average initial one-day test period production was 1,096 Boepd for the Company's operated wells in the third quarter. The Company currently has 45 gross operated wells in various stages of completion. Of these, 20 are scheduled to be fracture-stimulated, and 25 have been fracked and are being readied to go into production.



Saturday, November 5, 2011

Woodford Shale - Exxon Mobil (XOM)


November 5, 2011 - Exxon Mobile (XOM) is now heavily involved in the Woodford Shale as of late 2011. The Woodford Shale and Cana Woodford Shale have been explored by many companies for oil in 2011. Oklahoma residents have been signing away mineral rights leases at a record pace. Exxon Mobile (XOM) had this to say about the Woodford Formation.

"We are also involved in multiple emerging liquids-rich shale plays, the most active of which is the Woodford shale in the southern Oklahoma Ardmore Basin area. To date, we have amassed more than 150,000 net acres in this play through an aggressive leasing and acquisitions program. This leadership position has been built at an attractive cost. As we acquired resources for approximately $0.30 per 1,000 cubic feet equivalent and added the leasehold for under $600 per acre.Our activity in the Woodford Ardmore play has ramped up significantly in 2011, with our operated rig count increasing from 3 to 7 rigs and gross operated production more than tripling since year-end 2010.

In our core development area, peak 7-day gross production rates have averaged 325 barrels per day of crude oil and 3.7 million cubic feet per day of natural gas, with a rich 1,275 BTU gas also yielding significant natural gas liquids, providing an average liquids rate per well of over 750 barrels per day and 2.9 million cubic feet per day of sales gas. We are continuing to ramp up drilling activity and are progressing both marketing and infrastructure plans for the play.




Exxon Mobil (XOM) - Utica Shale


November 5, 2011 - Exxon Mobile (XOM) recently disclosed that they are involved in the Utica Shale. The Utica Shale, located mainly in Ohio, is an oil & natural gas field that has been moving up on the Top 5 shale plays. Exxon Mobile (XOM) said this about their Utica Shale acreage.

"Exxon Mobil is also actively exploring several other early stage liquids-rich play in the United States, including the Utica Shale play in eastern Ohio and western Pennsylvania. Our position in the Utica stems from our recently completed acquisition of the Phillips companies and represents incremental upside to the Phillips acquisition, which was focused on the Marcellus. The Phillips acquisition included 45,000 net acres prospective for the Utica in Ohio, and we have increased our position now to over 75,000 net acres. We anticipate drilling our first Utica well in early 2012."

Shale News

OilShaleGas.com

Monday, August 9, 2010

Mineral Rights: Marcellus Shale Update- Columbiana County, OH

By Andrea: http://oilshalegas.com

Between May 1 and July 31, 208 Mineral Rights leases have been obtained in Columbiana, County Ohio. This could mean the Marcellus Shale trend has extended into Ohio. Columbiana County is 1 of 10 counties in Ohio where Marcellus Shale is found. County Recorder, Craig Brown finds the surge a sudden dramatic change for the local land title companies:

"What we're seeing is not one guy coming in with one or two people, but we're seeing a dozen or 20 people coming in. It's kind of like a siege mentality that these people have right now ... Last week we had 28 people downstairs, and we only have four computers, so everybody's jockeying for position," he said.

Brown belives that the influx in interest in Ohio Marcellus Shale is trickling over from New York where a drilling Moratorium was recently imposed, forcing drillers to move elsewhere.

Read Full Story here: http://www.reviewonline.com/page/content.detail/id/529542.html?nav=5008

For more shale updates visit: http://blackberrystocks.blogspot.com

Fore more stock updates visit: http://daytradingstockblog.blogspot.com