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December 31st. 2016 10k should be filed in June sometime.
NOT SURE WHY THIS STOCK DOES NOT TREND UP . WHAT ARE THE INVESTORS AFRAID OF ? .12 IS A JOKE FOR THIS STOCK , IT SHOULD BE .50 OR BETTER RIGHT NOW !!
Thanks roger wilco,
Still here and added a bit.
Have a good weekend.
An excerpt from the company website...
Bakken Resources Inc. (“BRI”, “Company”) is pleased to report record crude oil and natural gas production and a record number of producing wells in 2016.
http://www.bakkenresourcesinc.com/2016/12/02/record-production/
Through September 30, 2016, the Company’s well interests have produced more than 4 million barrels of oil and more than 5 million mcf of gas, representing a 44% and 86% increase over year to date 2015, respectively. “Quality assets are strong in an upturn as well as a downturn”, says Dan Anderson, BRI’s chief financial officer. “The hidden value of our producing assets is the remaining well capacity. Replacing depleting assets and expanding reserves are key to our future. We plan to dedicate our strategic initiatives to acquisition and expansion in a “friendly” market environment”, Anderson adds.
Industry discussion generally centers on cash break-even points for exploration and production companies. However, companies like BRI have business models that are characterized by relatively low cost operations. As production grows in the current pricing environment, BRI can create long-term value for its shareholders.
As the industry recovers from its recent recession, companies like BRI are well positioned to take advantage of opportunities in the marketplace. And, BRI aims to do just that. BRI has recently completed a preliminary draft long-term strategic plan. This plan includes a detailed study of the significant producing domestic basins. The Company has identified a number of strategic initiatives designed to create long-term value while reducing overall risk.
Bullish on $BKKN as the Dakota pipeline begins to go into use!
$BKKN clients will use the Dakota Pipeline lowering costs and therefore increasing production and exploration in the region.
a Win-Win!!!
Dakota Access Pipeline Now Has Oil Beneath Missouri River, Company Says
http://www.nbcnews.com/storyline/dakota-pipeline-protests/dakota-access-pipeline-now-has-oil-beneath-missouri-river-company-n739296
The Dakota Access pipeline developer said Monday that it has placed oil in the pipeline under a Missouri River reservoir in North Dakota and that it's preparing to put the pipeline into service.
Dallas-based Energy Transfer Partners made the announcement in a brief court filing with the U.S. District Court for the District of Columbia. The announcement marks a significant development in the long battle over the project that will move North Dakota oil 2,000 miles through South Dakota and Iowa to a shipping point in Illinois. The pipeline is three months behind schedule due to large protests and the objections of two American Indian tribes who say it threatens their water supply and cultural sites.
ETP's filing did not say when the company expected the pipeline to be completely operating, and a spokeswoman did not immediately return an email seeking additional details.
"Oil has been placed in the Dakota Access Pipeline underneath Lake Oahe. Dakota Access is currently commissioning the full pipeline and is preparing to place the pipeline into service," the filing stated.
Image: Demonstration against construction of the Dakota Access Pipeline
Native American protesters and their supporters are confronted by security during a demonstration against construction of the Dakota Access Pipeline, near Cannon Ball, North Dakota, September 3, 2016. Robyn Beck / AFP/Getty Images
Despite the announcement, the battle isn't over. The Standing Rock and Cheyenne River Sioux tribes still have an unresolved lawsuit that seeks to stop the project. The Standing Rock chairman did not immediately return a call seeking comment on ETP's announcement.
The tribes argue that a rupture in the section that crosses under Lake Oahe would threaten their water supply and sacred sites and would prevent them from practicing their religion, which requires clean water.
The company disputes the tribes' claims and says the $3.8 billion pipeline is safe.
The tribes in December held up the project by successfully pushing the U.S. government for a full environmental study of the Lake Oahe crossing, which is in southern North Dakota. But the Army Corps of Engineers, which manages the Missouri River for the government, rescinded the study and gave the company permission to complete the pipeline at the urging of President Donald Trump shortly after he took office.
There were months of protests against the pipeline, mainly in North Dakota, where opponents set up a camp on Corps land between the Standing Rock Reservation and the pipeline route. At times it housed thousands of people, many of whom clashed with police, who made about 750 arrests between August and February. The on-the-ground protests waned after the Corps ordered the shutdown of the camp in February in advance of the spring flooding season.
While the protests have abated, opposition has not. The company on March 20 reported "recent coordinated physical attacks" on the pipeline without offering details. Authorities in South Dakota and Iowa confirmed that someone apparently used a torch to burn a hole through empty sections of the pipeline at above ground shut-off valve sites.
North Dakota has become the second-biggest oil producer in the U.S. in the past decade, trailing only Texas. The state stands to gain more than $110 million annually in tax revenue with oil flowing through the pipe, according to an analysis by The Associated Press.
Associated Press writer Blake Nicholson in Bismarck, N.D., contributed to this report.
This story has been corrected to reflect that the filing was with the U.S. District Court for the District of Columbia, not the appeals court.
Every dollar counts and the savings can and will make a big difference. A $5 savings per barrel when oil is $50 a barrel is a 10% difference.
IMO that is a significant amount. We all know shale oil is more expensive to harvest so therefore every possible cost savings such as the pipeline just makes Bakken shale exploration more attractive than other similar shale oil formations.
Pipeline is not enough to get back into the black.
The problem is not transportation, the problem is that oil prices are too low.
Most shales needs at least $60 to break even, and really needs $80 to $100 per barrel to be profitable.
It isn't like $20 per barrel is the transportation costs.
Rail is already in the area and that is typically $10 per barrel. The pipeline, providing there is enough volume to keep it in operation, only reduces that by $5 per barrel to $5 per barrel.
Those savings can easily be wiped out if oil drops to $45 or $40 per barrel.
Louis J. Desy Jr.
Dakota pipeline about to come on line this month. This means increased production and that generates higher royalties for $BKKN. The pipeline will become a static source therefore the future just got a bit brighter for $BKKN.
Price of oil going nowhere - $50 or lower
It looks like the price of oil is going nowhere for a while.
BKKN 10Q for quarter ending 09-30-2015
Base on the latest 10Q for the period ending 09-30-2015, the company is losing about $100K per quarter.
Equity was $6.6 million, and losing $100K for the five quarters since then, puts the equity at $6.1 million, around where the stock is trading now.
Louis J. Desy Jr.
$BKKN shareholders will benefit from the Dakota Pipeline
Judge refuses to stop construction of Dakota Access pipeline
http://www.foxnews.com/politics/2017/03/07/judge-refuses-to-stop-construction-dakota-access-pipeline.html
BISMARCK, N.D. – A federal judge declined Tuesday to temporarily stop construction of the final section of the disputed Dakota Access oil pipeline, clearing the way for oil to flow as soon as next week.
The Standing Rock and Cheyenne River Sioux tribes pledged to continue their legal fight against the project, even after the pipeline begins operating.
The tribes had asked U.S. District Judge James Boasberg in Washington to direct the Army Corps of Engineers to withdraw permission for Texas-based developer Energy Transfer Partners to lay pipe under Lake Oahe in North Dakota. The stretch under the Missouri River reservoir in southern North Dakota is the last piece of construction for the $3.8 billion pipeline to move North Dakota oil to Illinois.
The tribes argued that a pipeline under the lake violates their right to practice their religion, which relies on clean water, and they wanted the work suspended until the claim could be resolved.
When they filed their lawsuit last summer, the tribes argued that the pipeline threatens Native American cultural sites and their water supply. Their religion argument was new, however, and disputed by both the Corps and the company.
Boasberg in his ruling Tuesday said the tribes didn't raise the religion argument in a timely fashion. He also questioned its merit.
"Although the tribe's members may feel unable to use the water from Lake Oahe in their religious ceremonies once the pipeline is operational, there is no specific ban on their religious exercise," he said.
The judge's decision came as American Indians from across the country gathered in Washington to protest President Donald Trump's policies encouraging oil pipelines. Native Americans are planning four days of activities including lobbying lawmakers and culminating in a march on the White House. Tribal members and supporters plan to camp each day on the National Mall, with teepees, a ceremonial fire, cultural workshops and speakers.
"Trump and his friends at Big Oil have not won," Standing Rock Sioux Chairman Dave Archambault said in response to Boasberg's ruling, adding that "the bigger legal battle is ahead — we stand strong."
Standing Rock attorney Jan Hasselman and Cheyenne River attorney Nicole Ducheneaux said they hadn't decided whether to appeal Boasberg's ruling. In the meantime, they said, they'll continue to argue for more environmental study and for the government to recognize the tribe's treaty rights to clean water.
They don't expect a court hearing until at least April — long after pipeline operations are expected to begin — but Boasberg "can order the pipeline turned back off, and that's what we'll be asking for," Hasselman said.
Work under Lake Oahe had been held up in the courts until Trump last month instructed the Corps to advance construction. The Army is involved because its engineering branch manages the river and its system of hydroelectric dams, which is owned by the federal government.
The company began drilling under the lake Feb. 8. Company attorney William Scherman said in court documents that the pipeline could be moving oil as early as next week, and company spokeswoman Vicki Granado said it could be fully operational about three weeks later.
The MAIN Coalition, an industry group made up of agriculture, business and labor entities that benefit from Midwest infrastructure projects, praised Boasberg's ruling paving the way for the project's completion. The decision "further demonstrates that both the Army Corps of Engineers and Dakota Access have fully complied with all established laws and regulations," spokesman Craig Stevens said.
The pipeline saga has endured for months. Hundreds and sometimes thousands of pipeline opponents who sided with tribal opposition to the pipeline camped on federal land near the drill site for months, often clashing with police. There have been about 750 arrests in the region since August. Authorities last month closed the camp in advance of spring flooding season and set up roadblocks to prevent protesters from returning.
$BKKN is the only REAL OTC Company that is directly related the the upcoming Bakken Oil Boom!
An article from Seeking Alpha definitely supports a rise in the price of $BKKN.
I see a rise in production equates to higher royalties for $BKKN.
Continental Resources is one of the three companies that drill on $BKKN's properties.
~We Win!
DAPL Will Reduce The Bakken Discount: A Boon For Whiting Petroleum - But Don't Get Too Excited
http://seekingalpha.com/article/4052636-dapl-will-reduce-bakken-discount-boon-whiting-petroleum-get-excited
Summary
The two legs of the "Bakken Pipeline System" are expected to enter commercial operation in Q2.
This will be a boon not only for the pipeline owners, but for Bakken producers like Whiting Petroleum and Continental Resources.
However, higher realized prices could spur more production. And more production means lower prices (eventually).
As a result, I continue to favor pipeline providers over crude oil producers.
Just waiting for it to take-off !!!Tick Tock
As the Bakken heats up again, Williston prepares for more growth
As the Bakken oil fields get busy again so will $BKKN
http://billingsgazette.com/news/as-the-bakken-heats-up-again-williston-prepares-for-more/article_a1f87308-00c6-5e91-b560-31459c6b822b.html
Even as the bottom fell out of the Bakken boom, Shawn Wenko saw good news in the economic statistics for Williston, America’s fastest growing small city during the oil days.
True, more than 6,000 jobs had vanished along with the high oil prices in October 2014. That’s when overproduction put more crude on the world’s plate than it could possibly consume. The housing shortage, which had oilmen living in camper trailer villages and shipping container man camps, disappeared. The vacancy rate for apartments swelled to 40 percent. Restaurants experienced a 30 percent drop in business.
But something else happened, the oil workers who stayed started putting down roots, said Wenko, Williston's Economic Development executive director. Now the crude is making a comeback and Williston is ready to roll again.
“People who decided to make Williston their home started bringing their families in. So, things were slow, they started to lay people off, but school enrollment started going up,” Wenko said. “School enrollment is good, it’s strong. Our birth numbers are off the charts. A good year in Williston, back in the day we might have done 300 a year. We’re tracking about 800 a year right now with birth records.”
That number, 800, is a good birthrate statistic for a town of just under 30,000 people — and which was a population of only 12,000 a decade ago. If half those children grow up in Williston, there’s going to be a boom in child care jobs and the need for new schools. There were 2,302 students in Williston elementary schools in 2009. In 2015, there were 3,645.
There’s another area in which 800 is Williston’s lucky number: in drilled but uncompleted wells, or DUCs. When the oil boom went bust, companies walked away from hundreds of wells that had been drilled but never hydro-fractured. It’s the fracturing of the oil shale miles beneath the Western North Dakota plain that frees up Bakken oil. After a well is drilled deep and then horizontally, explosives are sent down to crack the earth. Then, sand and fluid is pumped into the fractured bore under high pressure to keep the opening from collapsing. Oil then seeps out of the shale into the void and is pumped to the surface.
Now that the West Texas Intermediate price of oil has risen above $50 a barrel, fracking crews are bringing those DUCs back online.
“We’re probably at about 15 frac crews in the state right now,” said Alison Ritter, of North Dakota Oil and Gas. “We’ll probably add about 10 more frac crews over the next year to get to 25.”
Each fracking crew employs about 40 to 60 workers. Another 40 to 50 people will hire on to service the job by trucking supplies to the site and hauling the tanker trailers of oil away once the wells come online. Ten more crews would mean 1,000 new jobs in the Bakken this year, Ritter said.
The growth is already being felt. Last summer, there were only five fracking crews in North Dakota.
The state is also expecting to add 10 or more drilling rigs to its current fleet of 41. The new rigs would bring another 1,200 jobs to North Dakota, as each drilling rig, boring new holes in the earth, employs 120 people.
“The estimate for the year is that we reach 50 rigs and 25 fracking crews and that’s about 2,200 jobs,” Ritter said. “And if the price of oil reaches $60 a barrel, while we don’t expect it to get to $60, we would see more rigs.”
The number of drilling rigs working in North Dakota now is nothing like the 200-plus rigs working the oil play at the peak of the boom. But, there’s more activity than statistics let on, said Kent Ellis, who has worked in the oilfield for more than three decades. He now runs an office of land men, the people who track down mineral rights holders and arrange contracts with oil companies.
“The difference between a 2006 rig and ones now is the new ones can actually walk 40 feet and drill the next hole,” Ellis said. “They can almost do three times the work without having to be torn down and moved.”
Lot's of green in Bakken related big board oil stocks today. BKKN's partners looking good. I see the love coming here as well.
Expect A New Shale Boom This Spring
http://oilprice.com/Energy/Crude-Oil/Expect-A-New-Shale-Boom-This-Spring.html
U.S. shale has now rebounded to a solid financial equilibrium that it makes sense for companies to begin investing in drilling again. The International Energy Agency (IEA) expects U.S. shale drillers to add over 500,000 bpd throughout 2017. Current announcements show the oil price floor, installed by OPEC’s production cuts, have allowed companies such as Hess Corporation and Noble Energy Incorporated to ramp up their budgetary spending by 60%.
Hess in particular is bullish on the Bakken in North Dakota with a $2.25 billion budget for 2017. Noble Energy will spend $2.5 billion – a 67 percent jump from last year’s $1.5 billion budget. On top of this, Noble plans to purchase Clayton Williams Energy based in the West Texas Permian for $2.7 billion, giving Noble another 4,200 prospective wells on 120,000 acres.
In other words the spigot has been opened, and more rigs and workers are being put back to work. Texas is leading the way with companies like RSP Permian Inc., increasing their budget by 97 percent to $600 million. Recently, geologists in Texas discovered the largest shale opportunity in the U.S.: The Midland Basin of the Wolfcamp Shale area.
According to the United State Geological Survey (USGS) this discovery is estimated to have 20 billion barrels of oil, 16 trillion cubic feet of associated natural gas, and 1.6 billion barrels of natural gas liquids. This find is three times larger than the assessed amount of oil in the Bakken formation in North Dakota.
With the imminent approval approval of the Keystone XL and Dakota Access pipelines there is nothing standing in the way of U.S. shale drillers from delivering hundreds of thousands of barrels of new oil and gas to the market. As an example, the Dakota Access pipeline will deliver, “470,000 barrels of oil each day from oil fields in western North Dakota to much of the Upper Midwest en route to Illinois.” Billions in new investments, and larger budgets from world-class shale drillers, are reasons that could possibly negate the effects of the OPEC cuts.
Moreover, oilfield service companies are announcing larger than expected capital budgets. Unheard of is a better way to describe this news, because months ago the OPEC deal had not brought oil prices up to a level where companies could spend money, invest in the future, and hire workers.
Related: Markets Buy The OPEC Cuts, But Fear U.S. Supply
This leaves room to add the above-mentioned firms in your portfolio, but with the risk and rewards that OFS brings this segment of the oil and gas industry.
This predicted surge in spending will also find oil field service providers such as Schlumberger Ltd. spend more as well. Paal Kibsgaard, Chief Executive Officer of Schlumberger believes the global market will take longer to rebound, but witnesses, “many global operators are not as well funded or nimble as American producers.”
This renewed confidence comes on the heels of two years of austere budgets, layoffs that totaled over 150,000 U.S. oil workers and hundreds of bankruptcies. Idle rigs began littering the shale landscape since the 2014 crash, but now that same shale patch is firing them up once again.
The main key to understanding how U.S. shale companies have adapted to the new oil price environment has been the ‘’can-do attitude’’ of petroleum engineers and oilmen from the Bakken to the Marcellus shale formations in combination with favorable financing conditions. These companies, and their ability to withstand the crisis of plunging oil prices has made them more flexible, better funded, leaner and more able to bring oil and gas rigs back online in seemingly no time.
And now with a tsunami of deregulation coming to the U.S, this could unleash investments and even more oil and gas drilling. U.S. shale companies have withstood the Saudi price war aimed at annihilating them, but 2017 could see a convincing comeback.
U.S. shale, unlike many other oil industries in the world has managed to adapt to the new $50 oil reality. Denver based Extract Oil & Gas, CEO, Mark Erickson says, “$45 oil has proven to be a sweet spot for the company, any improvement in price just means stronger returns and more activity are on the way.” This year’s shaping up to be a very good year for U.S. shale.
Energy Transfer Partners $ETP is not fooling around when it comes to finishing the pipeline! $BKKN and all the Bakken stocks I anticipate will have a awesome 2nd half of 2017!
Amazing progress on the pipeline already. It should be a great Spring and Summer BKKN.
Bakken pipeline will be completed and operational in May 2017 it sure looks like it's "go" time!
IMO there will be a huge "Bakken" oil stocks push by the investment houses this spring and summer.
Finally some clarity with Form 5 complete. Should stabilize company to move forward and grow . 2017 should be a year of recovery for company and stock.
Filings $BKKN Form 5
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=11849629
Bakken Resources $BKKN will directly benefit from the completion of the pipeline. The cost per barrel to will drop in the region and will encourage area producers to gear up production on wells that were previously unprofitable due to slumping oil prices world wide. Bakken will once again enjoy the royalties from the ramped up production.
The mineral rights in North Dakota are leased to three well operators, Oasis Petroleum (NYSE: OAS $14.30), Continental Resources (NYSE: CLR $46.52) and Statoil ASA (NYSE: STO $17.90).
Do you think the stock will rise once the pipeline is built and operational?
Read this article one developer believes the pipeline will be operational this summer!
http://www.9and10news.com/story/34462762/developer-poised-to-complete-dakota-access-oil-pipeline
CANNON BALL, N.D. (AP) - Construction crews have resumed work on the final segment of the Dakota Access pipeline, and the developer of the long-delayed project said Thursday that the full system could be operational within three months.
Meanwhile, an American Indian tribe filed a legal challenge to block the work and protect its water supply.
The Army granted Energy Transfer Partners formal permission Wednesday to lay pipe under a North Dakota reservoir, clearing the way for completion of the 1,200-mile pipeline. Company spokeswoman Vicki Granado confirmed early Thursday that construction began "immediately after receiving the easement."
Workers had already drilled entry and exit holes for the segment, and oil had been put in the pipeline leading up to Lake Oahe in anticipation of finishing the project.
$BKKN has a lot to gain with the completion of the pipeline. The cost to send the oil down the pipeline versus truck makes a huge difference in the cost per barrel.
BKKN Security Details
Share Structure
Market Value1 $8,935,818 a/o Jan 13, 2017
Authorized Shares 100,000,000 a/o Mar 31, 2009
Outstanding Shares 56,735,350 a/o Nov 18, 2013
-Restricted Not Available
-Unrestricted Not Available
Held at DTC Not Available
Float Not Available
Par Value 0.001
New website for BKKN.
http://www.bakkenresourcesinc.com/
Did the stock collapse ??
ASK slaps last couple of days, not much but sure makes you feel better
Annual meeting delayed
Not exactly sure why, but it looks like the annual meeting and the proposed merger have both been delayed with the filing of a TRO (Temporary Restraining Order).
8K report about delay:
http://ih.advfn.com/p.php?pid=nmona&article=72780441
The order is in effect for 60 days until after other issues are ruled on.
No idea how long that could be or exactly what is going on, at this time, but I would think it is not a good sign for the stock to have the annual meeting delayed.
What ever is going on, it is clear that insiders of the company are having some kind of big legal fight, which is usually never good for any stock price.
Louis J. Desy Jr.
Has the time finally come to dump this stock ? Hasn't moved in weeks , is it over ? Anybody out there know anything ?
Schedule 14a filing out
To our Stockholders:
The 2016 annual meeting of the stockholders of Bakken Resources, Inc. (the “Company,” “Bakken,” “we,” “us,” or “our”) will be held at 4:00 pm PT , Silver Legacy Resort, 407 N. Virginia Street, Reno, Nevada 89501, for the following purposes:
1. To elect directors to hold office until the next annual meeting until their respective successors are elected and qualified;
2. To ratify the appointment of DeCoria, Maichel & Teague, P.S. (“DM-T”) as the Company’s independent registered public accounting firm for the fiscal years ending on December 31 of 2016; and
3. To transact such other business as may properly be brought before the meeting or any adjournment thereof.
The meeting may be adjourned from time to time and, at any reconvened meeting, action with respect to the matters specified in this notice may be taken without further notice to stockholders except as may be required by our bylaws. Stockholders of record at the close of business on are entitled to notice of, and to vote on, all matters at the meeting and any reconvened meeting following any adjournments thereof.
A copy of our Annual Report on Form 10-K for the fiscal year ended December 31, 2015 is also enclosed.
It's good to see BKKN back on the horse...
Yes , Its time to start moving the needle. Other Bakken companies are on the up swing so lets join the party !!!
10k filing out for 2015, there finally getting up to date
I've done all my research and have won big in the past with companies just like this . This company is a BUY all the way. You may wait a while but this will hit down the road.
It looks like there is something wrong
The 10K reports filed as of yesterday cover to the end of 2014.
I am seeing about 150K shares traded and the stock down 30% to $0.10, giving the company a market cap of around $5.6 million.
It looks like people expect the company lost money through 2015 and 2016, making the company 'fully valued' at around $5 million or $6 million in market cap, about what it has on had for cash.
I think the problem is that some retail bid it way up and are not disappointed at the filed results on the 10K for 2014.
Louis J. Desy Jr.
BKKN filing Annual reports. It looks like this will finally snap back into gear.
Looks like big swing UP is about to happen !!! Underground news sounds EXTREMELY promising .
Real nice size bid on BKKN.
IMO it may be EAGLE PRIVATE EQUITY, LLC on bid support.
There is very little doubt with the sizeable investment into BKKN from Eagle that we will likely see the financials brought up to date in a expedited manner.
The pipeline is not being built by Bakken Resources (BKKN)
Here is information about it on wikipedia
https://en.wikipedia.org/wiki/Bakken_pipeline
The Bakken Pipeline is a 1,134 mile long underground oil pipeline project for crude oil from the Bakken oil fields in Northwest North Dakota, through South Dakota, Iowa and to end in Patoka, Illinois, which Dakota Access, LLC, a subsidiary of the Dallas, Texas corporation Energy Transfer Partners, L.P. has been planning. The project became public in July 2014, and informational hearings for landowners in the four states took place between August 2014 and January 2015. Dakota Access submitted their plan to the Iowa Utilities Board (IUB) on 29 October 2014 applied for a permit in January 2015 and the IUB granted the permit including the use of eminent domain in March 2016 after some public controversy, the last of the 4 state regulators to do so.
Dakota Access has calculated the pipeline to cost $3.7 billion, with $189 million to pay landowners. As of March 2016 it had secured voluntary easements on 82 percent of Iowa land.
Cost to move oil
I took a look at a few sources on the cost of moving oil per barrel.
The general consensus seemed to be that trucking it was about $20 per barrel, rail was $10 to $15 per barrel and a pipeline was $5 per barrel to transport oil.
So there is a big cost savings to moving it by pipeline, but not enough to over come the big drop in oil prices.
It also does not seem to make any sense to build a pipeline, since there is only 9,300 acres of leases bought in Sept 2014. It looks like no wells were drilled and I would expect with the drop in oil prices, it would cost more to drill a well than they would get from oil sales.
Louis J. Desy Jr.
The reason for the high cost per barrel of production in the Bakken is due to transportation costs. The cost to deliver oil in a pipeline is a fraction of the cost of transporting crude oil via truck or by rail.
Do the math....
The pipeline is a big deal....
Pipeline project
Assuming there is a pipeline being built, it would only make sense if there was some oil wells to connect it up to.
From the last 10Q/K reports filed, it looks like the company had almost no land to drill on and mostly just residual royalty rights that were not paying that much, and that was prior to the drop in the price of oil. It is possible that a lot of those oil royalty payments are almost nothing or may have even stopped depending on the well they were part of.
I can't see anyone even attempting a hostile takeover when no one can tell what the company really has for assets or liabilities plus the uncertainty with the lawsuit going on.
louis J. Desy Jr.
All about the pipeline!!!
Yes , it looks like a strange deal on paper but there is definitely some background items going on . Current management team has protected themselves and the company from the hostile take over and will now wait to see the pipeline come to life.
This is worse than I thought
So for $600,000, Eagle now has complete control of the company and control of the several million in cash? (assuming the cash the company reported really exists)
It makes the deal that Eagle arranged with the company look even worse and stranger for the existing common shares.
Why would the company give up operational control of the company for only $600K?
Why would the company allow Eagle to take control of the company when the company does not even have enough projects for the cash it claims to have on hand?
Why is the company not buying anything even though oil prices and oil rights are near a decade low?
Louis J. Desy Jr.
Dakota Access interstate crude oil pipeline.
Huge opportunity ahead , not sure why everyone is running but only helps the rest of us load up !!
According the the 8-K filed on July 26, 2016 the company issued 600,000 shares of Series A Preferred.
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Bakken Resources, Inc. jimkyle22@gmail.com ISG Investor Relations:
| Share Structure
Latest Report: Sept 30, 2017 10-Q CIK 0001450390 Fiscal Year End 12/31 Incorporated In: NV, USA Nevada Agency and Transfer Company |
Bakken Resources, Inc.(BRI) is a non-operating participant in the Bakken and play in western North Dakota. The Company plans to focus on evolving into a growth-orientated independent energy company engaged in the acquisition, exploration, exploitation, and development of oil and natural gas properties. Our activities are focused mainly in the Williston Basin, a large sedimentary basin in eastern Montana, Western North and South Dakota, and Southern Saskatchewan known for its rich deposits of petroleum and potash.BRI has pursued relationships to gather information on future potential oil and gas drilling projects and explored and contemplated possible joint partnerships in other drilling programs. We have acquired mineral acreage in the Duck Lake region of Western Montana, in a potential oil play commonly referred to as the Alberta Bakken, as well acquiring a 17% working interest in an operating well located in Archer County, Texas. |
As of March 31, 2013 BRI owns mineral rights for 7,200 (net 2,400) acres in the Bakken/Three Forks in North Dakota and approximately 2,200 acres in the Duck Lake area of Montana. We also own a 50% net mineral interest in the Duck Lake acreage minerals. The Duck Lake acreage is not being developed as of March 31, 2013 . The mineral rights in North Dakota are leased to three well operators, Oasis Petroleum (NYSE: OAS $42.50), Continental Resources (NYSE: CLR $96.55) and Statoil ASA (NYSE: STO $21.28).The royalty income is calculated monthly and the Company recognizes royalty income upon production reported on the North Dakota Industrial Commission website. At March 31, 2013 the Company has received division orders for twenty-two Bakken formation wellsand three Madison formation wells.
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MissionWe plan to focus on evolving into a growth-orientated independent energy company engaged in the acquisition, exploration, exploitation, and development of oil and natural gas properties while trying to conserve resources. We plan to explore developing our assets using more modern and economical techniques than those that are currently used by some operators in the basin. We will initially focus our activities mainly in the Williston Basin, a large sedimentary basin in eastern Montana, Western North and South Dakota, and Southern Saskatchewan known for its rich deposits of petroleum and natural gas.Per our business plan and strategy, we have pursued relationships to gather information on future potential oil and gas drilling projects and explored and contemplated possible joint partnerships in other drilling programs. The Company remains in discussion with various groups for strategic partnerships. | Mineral rights locations designated in yellow above.(Note: blue dot in the middle of the map represents a commercial horizontal Bakken well drilled in May of 2010 by Oasis Energy, Inc.). |
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April 15, 2014 We are happy to report significant developments on several fronts over the past year. •Increase in well activity. •Increase in gross revenues. •The Company is debt-free. •Sale of mineral assets. Some other items of note for this past year were: •Our receipt of DTC approval for the electronic trading of BRI's common stock. •Completion of a full mineral title review and report of our mineral acreage. •Completion of initial well analysis of our working interest in Archer County, Texas. The well in Archer County that we have a 17% working interest has suspended production pending further geologic analysis on potential further downhole drilling opportunities. •Completion of lease review and coordination and negotiation of various lease addendums and/or extensions. •Launched a new website that we believe provides accurate, streamlined and pertinent information in an understandable fashion to our shareholders and the investing public. •Initial development of enhanced oil-recovery technology programs, including a collaboration with Applied Geotech, Inc. •Successful release of prior suspended royalty payments (totaling approximately $1.2 million). With respect to our current 1,100 net mineral acre holdings in the Duck Lake region of Montana, our acreage went off lease in September 2013,and we are currently looking at potential opportunities to commercially exploit this asset. In December 2013, following trial in held in Superior Court located in Spokane, Washington, the Washington Court issued findings of fact and conclusions of law stating that the plaintiffs in this the Washington case (i.e. Allan Holms and Roil Energy, LLC) did not have an interest in our mineral assets. Final judgment in the Washington case is currently pending the completion of various post-trial briefs and hearings, but final judgment is expected to be issued in late April or early May 2014. We are pleased with the Washington Court’s findings of fact and conclusions of law as they pertain to the Company. Some of you may have also received a notice from plaintiffs representing a minority class of investors that have filed suit against the Company alleging the Company’s breach of certain provision relating to registration rights agreement(s) (Case No. A-13-675280-B, filed in the District Court of the State of Nevada for Clark County). We dispute the allegations of the plaintiffs in this case and intend to vigorously defend this lawsuit. We encourage all of you to read our Annual Report and our other public filings carefully for detailed information about our company. The Board and management are committed to engaging in activities that will enhance shareholder value, and we expect that to be a focus in the coming months. The Company continues to evaluate additional potential mineral or lease acquisitions to increase its assets and potential oil and gas reserves. As always, we welcome constructive input from our valued shareholders. All of us at Bakken Resources, Inc. appreciate your continued support and look forward to continued success in 2014. Sincerely, Val M. Holms |
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