•  
  •  
  •  
  •  
  •  
  • Untitled Document
    Untitled Document

    Latest SM Energy Bakken well appears mediocre

    SM Energy’s (NYSE: SM) latest Bakken shale well, the Nelson 4-29H in McKenzie County had an initial production rate of 671 boepd. The well is located in the Bear Den prospect of North Dakota where the Denver-based company holds 17,000 acres.

    Citing the North Dakota Industrial Commission and company data, a September 20 report by Jefferies & Co. Inc. said this latest well “looks to be a disappointment” when compared to the company’s last well in the prospect, the Anderson 12-14H, which had average production of 860 boepd over its first 30 days.

    SM Energy holds 78,000 total acres in North Dakota. 

    In August, after the company announced its 2011 capex budget of $1 billion and outlined its plans to raise between $300 million and $500 million through asset sales and joint ventures, Jefferies & Co. Inc. released a report saying the company’s impressive growth was overshadowed by a funding gap.

    Source: Jefferies & Co. Inc.

    Most Popular

    Related Articles

    Rosneft and BP sign production, exploration and refining agreements

    06/19/2015 On June 19, at the St. Petersburg International Economic Forum in Russia, Rosneft and BP signed several agreements strengthening the long-term strategic relationship between the two companies.

    GIP II and Hess form midstream Bakken JV

    06/15/2015 Global Infrastructure Partners (GIP) says that its second fund, Global Infrastructure Partners II, and affiliated funds, have agreed to enter into a strategic joint venture with Hess Corp. through ...

    Hess to sell interest in Bakken midstream assets and form new JV

    06/11/2015 Hess Corp. has agreed to sell a 50% interest in its Bakken midstream assets to Global Infrastructure Partners for cash consideration of $2.675 billion. Hess and Global Infrastructure Partners will ...

    Matador closes Delaware Basin joint ventures

    06/09/2015 Matador Resources Co. has completed its joint ventures with certain affiliates of HEYCO Energy Group Inc., the former parent company of Harvey E. Yates Co., before HEYCO’s merger with a wholly owne...

    First phase of Australia's GLNG field construction completed

    06/08/2015

    Santos Ltd. says that all three of Santos GLNG’s major natural gas compression hubs in Queensland, Australia, are now operational, marking the end of the first phase of gas field construction.

    Central Petroleum acquires Mereenie stake from Santos for $37.4M

    06/04/2015 Central Petroleum Ltd. has agreed to acquire a 50% interest in the Mereenie oil and gas field from Santos Ltd. and assume operatorship of the field in the Northern Territory’s Amadeus Basin in Aust...

    More Oil & Gas Financial Articles

    Rosneft and BP sign production, exploration and refining agreements

    Fri, Jun 19, 2015

    On June 19, at the St. Petersburg International Economic Forum in Russia, Rosneft and BP signed several agreements strengthening the long-term strategic relationship between the two companies.

    GIP II and Hess form midstream Bakken JV

    Mon, Jun 15, 2015

    Global Infrastructure Partners (GIP) says that its second fund, Global Infrastructure Partners II, and affiliated funds, have agreed to enter into a strategic joint venture with Hess Corp. through the acquisition of a 50% interest in Hess Infrastructure Partners, the owner of Hess’s midstream crude oil and natural gas infrastructure assets located primarily in the Bakken shale play.

    Hess to sell interest in Bakken midstream assets and form new JV

    Thu, Jun 11, 2015

    Hess Corp. has agreed to sell a 50% interest in its Bakken midstream assets to Global Infrastructure Partners for cash consideration of $2.675 billion. Hess and Global Infrastructure Partners will create a premier midstream joint venture – Hess Infrastructure Partners.

    Matador closes Delaware Basin joint ventures

    Tue, Jun 9, 2015

    Matador Resources Co. has completed its joint ventures with certain affiliates of HEYCO Energy Group Inc., the former parent company of Harvey E. Yates Co., before HEYCO’s merger with a wholly owned subsidiary of Matador in February.

    First phase of Australia's GLNG field construction completed

    Mon, Jun 8, 2015

    Santos Ltd. says that all three of Santos GLNG’s major natural gas compression hubs in Queensland, Australia, are now operational, marking the end of the first phase of gas field construction.

    OGFJ photo of the day


    Click to view slideshow

    Oil & Gas Jobs

    Search More Job Listings >>
    Subscribe to OGFJ