By Andrea: http://oilshalegas.com
In a recent operational update released by Topaz Resources, Inc., they announced that they are acquiring a lease of 85 acres in the Barnett Shale located in Denton County, TX. In addition, Topaz Resources will hold a 45% working interest in a horizontal Barnett Gas well, located in that acreage of the Barnett Shale.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Monday, December 27, 2010
Sunday, December 26, 2010
La Salle County, TX: Eagle Ford Shale Update
By Andrea: http://oilshalegas.com
SM Energy Company (SM) recently released an operational update on the Eagle Ford Shale located in Webb and LaSalle County,TX:
SM Energy Company (SM) plans to begin 2011 operating two (2) drilling rigs on its high working interest 165,000 net acre position in Webb and La Salle counties in South Texas. Over the course of the year, the Company plans to ramp its operated rig count to four (4) drilling rigs, the vast majority of which will target portions of the acreage containing rich gas and condensate. Most of the wells planned for the year will be in the Briscoe and Galvan Ranch program areas where SM Energy has been active during 2010. A higher level of activity is also planned for La Salle County, Texas in order to de-risk and delineate that portion of the Company's acreage. In addition, a number of projects such as retained energy fracture stimulations and reduced spacing pilots are planned for next year across the play. Projects in the Eagle Ford shale program make up the largest portion of the Company's facilities budget of $65 million.
In the partner-operated portion of SM Energy's 84,500 net acre position prospective for the Eagle Ford shale, seven (7) rigs are currently being operated by the Company's partner, Anadarko Petroleum Company (APC). For 2011, SM Energy anticipates that Anadarko will operate an average of ten (10) rigs for the year.
SM Energy has allocated approximately $500 million for drilling investment in its total Eagle Ford shale position for 2011. Based on the activity levels contemplated above, capital expenditures net to the Company would be in excess of this amount next year. The Company is initiating a marketing process to sell down or joint venture a portion of its total position in the play, which will lead to a smaller amount of net investment in 2011. Bank of America Merrill Lynch has been engaged to market the Eagle Ford shale package on behalf of the Company. Although details of the composition of the sale package are still being determined, SM Energy currently estimates that it will sell roughly 20% to 30% of its total acreage position and that as a result the net spending for 2011 will be approximately $500 million after adjusting for capital expenditures associated with divested properties and possible drilling carries.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
SM Energy Company (SM) recently released an operational update on the Eagle Ford Shale located in Webb and LaSalle County,TX:
SM Energy Company (SM) plans to begin 2011 operating two (2) drilling rigs on its high working interest 165,000 net acre position in Webb and La Salle counties in South Texas. Over the course of the year, the Company plans to ramp its operated rig count to four (4) drilling rigs, the vast majority of which will target portions of the acreage containing rich gas and condensate. Most of the wells planned for the year will be in the Briscoe and Galvan Ranch program areas where SM Energy has been active during 2010. A higher level of activity is also planned for La Salle County, Texas in order to de-risk and delineate that portion of the Company's acreage. In addition, a number of projects such as retained energy fracture stimulations and reduced spacing pilots are planned for next year across the play. Projects in the Eagle Ford shale program make up the largest portion of the Company's facilities budget of $65 million.
In the partner-operated portion of SM Energy's 84,500 net acre position prospective for the Eagle Ford shale, seven (7) rigs are currently being operated by the Company's partner, Anadarko Petroleum Company (APC). For 2011, SM Energy anticipates that Anadarko will operate an average of ten (10) rigs for the year.
SM Energy has allocated approximately $500 million for drilling investment in its total Eagle Ford shale position for 2011. Based on the activity levels contemplated above, capital expenditures net to the Company would be in excess of this amount next year. The Company is initiating a marketing process to sell down or joint venture a portion of its total position in the play, which will lead to a smaller amount of net investment in 2011. Bank of America Merrill Lynch has been engaged to market the Eagle Ford shale package on behalf of the Company. Although details of the composition of the sale package are still being determined, SM Energy currently estimates that it will sell roughly 20% to 30% of its total acreage position and that as a result the net spending for 2011 will be approximately $500 million after adjusting for capital expenditures associated with divested properties and possible drilling carries.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Linn Energy (LINE): Permian Basin Update
By Andrea: http://oilshalegas.com
During the fourth quarter of 2010, Linn Energy LLC (LINE) announced that they closed a bolt-on acquisition of Antrim Shale properties in Michigan and expects to close a bolt-on acquisition of Permian Basin properties by the end of the year. The combined contract price of both acquisitions totals approximately $90 million.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
During the fourth quarter of 2010, Linn Energy LLC (LINE) announced that they closed a bolt-on acquisition of Antrim Shale properties in Michigan and expects to close a bolt-on acquisition of Permian Basin properties by the end of the year. The combined contract price of both acquisitions totals approximately $90 million.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Friday, December 24, 2010
Beckham County, OK: Granite Wash Update
By Andrea: http://oilshalegas.com
SM Energy Company (SM) recently released an update on the Granite Wash, located in Beckham County, OK:
The company plans to invest $60 million in 2011 in horizontal wells targeting the Marmaton and Missourian washes (also collectively referred to as the Granite Wash) in Beckham County in western Oklahoma. Two (2) operated drilling rigs will be required next year to execute on this program. SM Energy will operate over 65% of this activity. The economics of these projects benefit from the contribution of higher BTU natural gas and condensate in the production stream.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
SM Energy Company (SM) recently released an update on the Granite Wash, located in Beckham County, OK:
The company plans to invest $60 million in 2011 in horizontal wells targeting the Marmaton and Missourian washes (also collectively referred to as the Granite Wash) in Beckham County in western Oklahoma. Two (2) operated drilling rigs will be required next year to execute on this program. SM Energy will operate over 65% of this activity. The economics of these projects benefit from the contribution of higher BTU natural gas and condensate in the production stream.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Divide County, ND: Bakken shale Update
By Andrea: http://oilshalegas.com
SM Energy Company (SM) recently announced that they plan to invest roughly $170 million, or approximately 20% of its drilling capital, in 2011 on projects targeting the Bakken and Three Forks intervals in the Williston Basin. SM Energy plans to operate two (2) drilling rigs through the first half of next year, with the addition of a third rig planned at mid-year. Substantially all of this activity is expected to occur in McKenzie and Divide counties, North Dakota. Operations in McKenzie County will focus on the horizontal Bakken wells in the Company's Raven prospect area in the western portion of the county, with SM Energy operating approximately two-thirds of this activity. Activity in Divide County will target the Three Forks interval and will be entirely operated by the Company.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
SM Energy Company (SM) recently announced that they plan to invest roughly $170 million, or approximately 20% of its drilling capital, in 2011 on projects targeting the Bakken and Three Forks intervals in the Williston Basin. SM Energy plans to operate two (2) drilling rigs through the first half of next year, with the addition of a third rig planned at mid-year. Substantially all of this activity is expected to occur in McKenzie and Divide counties, North Dakota. Operations in McKenzie County will focus on the horizontal Bakken wells in the Company's Raven prospect area in the western portion of the county, with SM Energy operating approximately two-thirds of this activity. Activity in Divide County will target the Three Forks interval and will be entirely operated by the Company.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Williams Companies, Inc. (WMB): Bakken Shale Update
By Andrea: http://oilshalegas.com
The Williams Companies, Inc. (WMB) recently released an operational update where it announced that it has completed a major purchase in North Dakota's Bakken oil play from private owners for $925 million cash. Williams announced the acquisition on Nov. 15.
In the transaction, Williams purchased 100 percent of the interests in Dakota-3 E&P Company LLC. Dakota-3 has approximately 85,800 net acres on the Fort Berthold Indian Reservation in the Williston Basin and 3,300 barrels per day of net oil production from 24 existing wells.
Williams' purchase has an effective date of Oct. 1, subject to standard closing adjustments. Williams is the new owner of Dakota-3, which will continue its existing contractual arrangement for services with the contract operator and field services provider after closing.
Currently, Dakota-3 has three rigs operating on its acreage. Williams expects to double the current level of drilling activity to six rigs by 2012, subject to permitting. Williams estimates that Dakota-3's holdings represent approximately 185 million barrels of oil equivalent in total net reserves potential in the Middle Bakken and the Upper Three Forks formations.
Williams' entry into the Bakken Shale play follows its entry into Pennsylvania's Marcellus Shale, where the company has accumulated approximately 100,000 net acres over the past year and a half.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
The Williams Companies, Inc. (WMB) recently released an operational update where it announced that it has completed a major purchase in North Dakota's Bakken oil play from private owners for $925 million cash. Williams announced the acquisition on Nov. 15.
In the transaction, Williams purchased 100 percent of the interests in Dakota-3 E&P Company LLC. Dakota-3 has approximately 85,800 net acres on the Fort Berthold Indian Reservation in the Williston Basin and 3,300 barrels per day of net oil production from 24 existing wells.
Williams' purchase has an effective date of Oct. 1, subject to standard closing adjustments. Williams is the new owner of Dakota-3, which will continue its existing contractual arrangement for services with the contract operator and field services provider after closing.
Currently, Dakota-3 has three rigs operating on its acreage. Williams expects to double the current level of drilling activity to six rigs by 2012, subject to permitting. Williams estimates that Dakota-3's holdings represent approximately 185 million barrels of oil equivalent in total net reserves potential in the Middle Bakken and the Upper Three Forks formations.
Williams' entry into the Bakken Shale play follows its entry into Pennsylvania's Marcellus Shale, where the company has accumulated approximately 100,000 net acres over the past year and a half.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Reliable Energy Ltd. (REL): Bakken formation update
By Andrea: http://oilshalegas.com
Reliable Energy Ltd. (REL) recently provided initial production results from the 5-34-11-29W1 horizontal well completed in the Bakken formation on its Kirkella property in Manitoba. Drilled from 4-27-11-29W1, the 5-34 well reached total depth on November 17th, 2010 and is comprised of a 1,200 meter horizontal lateral section that encountered excellent quality Bakken reservoir throughout. The well was completed using a multi stage frac system with a total of 15 stages being fracture stimulated. This is the first well in Reliable’s horizontal drilling program to be successfully completed in its entirety and placed on production. The well commenced production on December 3rd, 2010 and has been producing continuously since. During the clean-up phase of production, the oil cut has continuously increased to 35% while total fluid production has averaged 358 bbl/day. Over the last 24 hour period, the well has produced 125 bbls (94 bbls net) of light sweet oil. The well is expected to continue to clean up and stabilize over the next several weeks and the well has been set up as a single well battery until it can be tied into our central battery at our 14-10 site.
The Company has drilled a total of 5 (4.3 net) horizontal wells to date on its Kirkella and Elkhorn properties in Manitoba. As previously announced, the Company has experienced significant issues in accessing the equipment and services necessary to complete these wells, however the Company is working closely with the frac companies to ensure availability of services in the new year. Two wells, 5-15-11-29W1 and 6-15-11- 29W1, have been partially completed and are still awaiting the conclusion of their respective frac programs. These wells are currently on production test while awaiting frac equipment. The first well, 6-15, has had eight of twenty planned fracs completed and has been on production since November 9. In December, the well has produced an average of 75 BOPD (net). The company expects the final results of the 6-15 well to be similar to the 5-34 well. The 5-15 well has just been placed on production and is currently in the initial clean-up phase of production. Further results of these production tests on the 5-15 and 6-15 wells will be released upon the completion of the frac programs. Reliable has 2 (1.5 net) wells currently awaiting commencement of their frac programs. These wells, the 6-34-11-29W1 and the 10-8-11-28W1 horizontals at Kirkella and Elkhorn respectively, are not expected to be completed and on production until January 2011.
Corporate production is currently at 600 bbls of oil per day. Based on results of the 5-34 well, management believes that there is a further minimum of 300 bbls of oil per day (net) behind pipe and awaiting completion. Reliable does not expect to have any more wells frac’d and completed prior to year end due to lack of equipment and services and, accordingly, has revised downwards its year end exit rate to 600 bbls of oil per day. Murray Swanson, President and CEO stated that ”while we are disappointed that we have been unable to complete all five horizontal wells drilled this year because of equipment availability, we are extremely encouraged by the results from the 5-34 well, which has exceeded initial expectations. Furthermore, the test results from the 5-15 and 6-15 wells indicate that once they have been completed in their entirety that we will achieve our planned production levels for these respective wells.”
Reliable has identified 142 prospective horizontal drilling locations in the Kirkella area in the Bakken and is continuing to add to this total through ongoing exploration.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Reliable Energy Ltd. (REL) recently provided initial production results from the 5-34-11-29W1 horizontal well completed in the Bakken formation on its Kirkella property in Manitoba. Drilled from 4-27-11-29W1, the 5-34 well reached total depth on November 17th, 2010 and is comprised of a 1,200 meter horizontal lateral section that encountered excellent quality Bakken reservoir throughout. The well was completed using a multi stage frac system with a total of 15 stages being fracture stimulated. This is the first well in Reliable’s horizontal drilling program to be successfully completed in its entirety and placed on production. The well commenced production on December 3rd, 2010 and has been producing continuously since. During the clean-up phase of production, the oil cut has continuously increased to 35% while total fluid production has averaged 358 bbl/day. Over the last 24 hour period, the well has produced 125 bbls (94 bbls net) of light sweet oil. The well is expected to continue to clean up and stabilize over the next several weeks and the well has been set up as a single well battery until it can be tied into our central battery at our 14-10 site.
The Company has drilled a total of 5 (4.3 net) horizontal wells to date on its Kirkella and Elkhorn properties in Manitoba. As previously announced, the Company has experienced significant issues in accessing the equipment and services necessary to complete these wells, however the Company is working closely with the frac companies to ensure availability of services in the new year. Two wells, 5-15-11-29W1 and 6-15-11- 29W1, have been partially completed and are still awaiting the conclusion of their respective frac programs. These wells are currently on production test while awaiting frac equipment. The first well, 6-15, has had eight of twenty planned fracs completed and has been on production since November 9. In December, the well has produced an average of 75 BOPD (net). The company expects the final results of the 6-15 well to be similar to the 5-34 well. The 5-15 well has just been placed on production and is currently in the initial clean-up phase of production. Further results of these production tests on the 5-15 and 6-15 wells will be released upon the completion of the frac programs. Reliable has 2 (1.5 net) wells currently awaiting commencement of their frac programs. These wells, the 6-34-11-29W1 and the 10-8-11-28W1 horizontals at Kirkella and Elkhorn respectively, are not expected to be completed and on production until January 2011.
Corporate production is currently at 600 bbls of oil per day. Based on results of the 5-34 well, management believes that there is a further minimum of 300 bbls of oil per day (net) behind pipe and awaiting completion. Reliable does not expect to have any more wells frac’d and completed prior to year end due to lack of equipment and services and, accordingly, has revised downwards its year end exit rate to 600 bbls of oil per day. Murray Swanson, President and CEO stated that ”while we are disappointed that we have been unable to complete all five horizontal wells drilled this year because of equipment availability, we are extremely encouraged by the results from the 5-34 well, which has exceeded initial expectations. Furthermore, the test results from the 5-15 and 6-15 wells indicate that once they have been completed in their entirety that we will achieve our planned production levels for these respective wells.”
Reliable has identified 142 prospective horizontal drilling locations in the Kirkella area in the Bakken and is continuing to add to this total through ongoing exploration.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
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