Looking for the next energy runner!
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Good stuff. Any other little bits that are worth knowing?
Glad I could share a little info w/ ya! Read that there is some insider buying going on as well. Could be looking real nice here shortly.
Disappointing. Any reason you can find?
Thanks for the luck. I am hopeful on this one as well.
Looks like the just completed a project in the Bakken. Maybe that will turn things around for ya.
Noted. Read today that HAL is predicted to hit $60.
I see one more person that posted awhile back. We need to get more discussion going here!
Thanks for posting the "new" site. I was trying to do some research on these guys and that was super helpful!
I would love to additional information on this.
You are probably right. I would like to see someone snatch it up and get things rolling again.
Awesome! Thanks nomad!
Oh a PR would be ideal... We can only hope :)
I called over there today to see where they were at, and what they had in the works. Not a very helpful phone call. Do you have any new information?
Any new info here?
Here is a little analysis for you.
Do these guys have a website? Any news lately?
Not a bad sector to be watching. I am a fan as well :)
I would be happy with that as well!
Do these guys have a functioning website? I was going to give them a call today but cannot find contact info. Any tips or good info to share?
Anyone have contact info for these guys? I had no luck finding a web site...
Anyone have contact info for these guys? I had no luck finding a web site...
Following up on contact info for the company from the end of the year. Anyone have contact info for this company? I am still having no luck.
Called over there today to get some information. Their funding is covered for the year. I didn't realize they didn't take private investors. Anyone have info on this?
Thanks for the advice. Hope to hear from her soon.
Called over to AENP today. I didn't realize they did everything in house. I like it!
Tried to call these guys today. No luck contacting anyone. Anyone have information about the acquisition they are working on?
Spoke to David Wilde today, sounds like they have some big plans in the works.
Starting to look pretty attractive above $15 here. Good operating partners makes for good returns for NOG and the investor.
As a non-operator, it has lower costs. Northern chooses operators with good reputations. The top 5 operating partners as a percentage of gross wells are:
EOG Resources (EOG) 27%
Slawson 15%
Continental (CLR) 15%
Brigham (BEXP) 8%
Marathon (MRO) 6%
Taking a position here after the deep pull back. Cal Dive International, Inc. just posted dismal earnings for the first quarter. It’s trailing P/E is negative and its forward P/E is 13.27. The company has been hit by the moratorium on Gulf drilling, but it provides underwater services that are not widely available and, thus, the company has surprisingly strong pricing power. Once drilling starts up again, Cal Dive ought to perform a lot better.
Agreed:
Precision Drilling Corp. (NYSE: PDS) is an onshore drilling company that focuses on North American services. The company’s trailing P/E is a robust 58.05 and its forward P/E is 13.27. Drillers, particularly onshore drillers not affected by the moratorium in the Gulf of Mexico, have done well this year. Precision has boosted its rig utilization rate so far this year and expects to bring another dozen rigs online in 2011, with 11 going to Canada.
Thanks for the bullets and useful information. I realize there is a turn key plan in place once they get funding. You mentioned "once the deal is signed" and "close the deal mid-May" can you point out what was the source of this information? I am still going through the filings and PR's so any help is appreciated.
Please note the board needs updated as SM is the ticker for SM Energy:
SM Energy (SM) is a well diversified company with a large position in the Bakken. SM seems to be focusing on the Eagle Ford this year, but its Bakken acreage is a significant holding. Its Bakken / Three Forks 2010 proved reserves was 232 BCFE. Total fourth quarter of 2010 production was 69 MMCFE. SM has pushed west in the Bakken, with good results. Its Three Forks holdings in Divide have continued to succeed.
The ramp up drilling programs are going as scheduled. It will spend $830 million in 2011 drilling cap ex. 90% of drilling cap ex will be spent on liquids. The Bakken / Three Forks is 20% of the $830 million. SM's Bakken acreage increased from 81000 net acres to 84000 net acres. SM holds an additional 120000 net legacy acres in the Basin. Two rigs are currently running with an additional rig added later this year. A plan of 20 net operated wells will be drilled in Raven and Divide projects this year.
Average daily production has increased significantly:
First Quarter of 2009 was 1183 BOED
First Quarter of 2010 was 3295 BOED
First Quarter of 2011 is estimated at 8000 to 9200 BOED
Second Quarter of 2011 is estimated at 9800 to 11200 BOED
I believe we are looking for considerably more upside as oil prices continue to climb to $150.
Historical information that I think is a good base for what may be to come @ Nemaha Ridge.
I expect continued growth and value here:
In 2012, it estimates 12 wells will be drilled and completed. 75 potential operated locations on 640 acre spacing are planned in Stark county. An EUR of 250-500 MBOE per well is expected. On April 21st of 2011, MDU announced a five year $2.1 billion investment to develop and produce oil and natural gas properties. This will be spent on other areas as well as the Bakken. MDU also announced lower production due to bad Bakken weather.
Info on Stark County:
An additional 50000 net exploration acres are held in Stark County. This is a play on the Three Forks. Fidelity's first well (Kostelecky 31-6H) was promising with an average IP rate of 1343 BOE. It carries an operating interest of 94.5%. It is drilling two additional wells. A $37 million 2011 cap ex program will be used to drill six operated wells. Fidelity plans to participate in non-operated wells in Stark County.
More DD on Fidelity:
Fidelity produced 2.4 million net barrels of oil equivalent in the last three years. It owns 16000 net acres in Mountrail County. Last year 8 Mountrail wells were drilled to a total of 37 operated wells. Fidelity produces 3700 BOED in Mountrail. Future drilling locations include 20 in the middle Bakken and over 30 in the Three Forks.
A drilling cap ex of $52 million will be used to drill 13 operated wells. Fidelity plans to participate in non-operated wells this year. In the second quarter of this year, Fidelity will add a second drilling rig. It plans to drill 12 wells in 2012 and 2013. Fidelity estimates an EUR of 250-400 MBO per well.
MDU Resources Group Inc. (MDU) produces oil and natural gas as Fidelity Exploration and Production. Fidelity produces 35% of MDU's earnings. Fidelity has 646 BCFE of proved natural gas and oil reserves, with 69% of it natural gas.
In 2010, Fidelity increased oil production by 5% year over year to 28% total. The Bakken is its largest oil property. Its acreage is located in Mountrail County, North Dakota. Bakken production increased by 41% in 2010.
Holding tight to my projections on this one. In recent developments Brigham Exploration has completed 56 long laterals in the Bakken/Three Forks.
These high frac stage wells had an average peak rate of 2884 BOED. Brigham has 205300 largely de-risked net core acres. 724 net development locations in core acres. Brigham wells-- with an EUR of 600 MBOED-- are estimated a NPV of $12 million. This would produce an IRR of 93%. Brigham is accelerating its drilling program from 7 to 12 rigs as of September of 2012. Starting in May of this year, Brigham will add an eighth rig.
Every four months after, Brigham will add an additional well until 12 are reached. This will create an estimated 132 gross well annual run rate. Brigham estimates this will produce an incremental increase per year of 29 wells. This acceleration will produce an 81% increase in oil volumes in 2011. More importantly, this will de-risk the majority of Brigham's core acreage.
Enerplus has two Bakken locations. One is a very good play in Fort Berthold, North Dakota. The second is significantly inferior, but was acquired at a significant discount. Watch production in Saskatchewan and Fort Berthold. The difference in IP rates and EURs will be interesting.