•  
  •  
  •  
  •  
  •  
  • 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

    Total completes $1 billion of onshore divestments in Nigeria

    03/30/2015 Total has completed the divestment of its stake in onshore Oil Mining Lease (OML) 29 to Aiteo Eastern E&P, a Nigerian company, for $569 million. Together with the recently completed divestments...

    JV awarded contract for LNG liquefaction and export facility

    03/27/2015 A joint venture between CB&I, Chiyoda International Corp., and Zachry Industrial Inc. has been awarded a contract valued in excess of $2 billion by FLNG Liquefaction 3 LLC (Freeport LNG) for th...

    SPDC completes sale of OML 29 and NCTL in Nigeria

    03/26/2015 The Shell Petroleum Development Co. of Nigeria Ltd. (SPDC), a subsidiary of Royal Dutch Shell plc, has completed the assignment of its interest in oil mining lease (OML) 29 and the Nembe Creek Trun...

    PAA and Delek Logistics form JV to build Caddo Pipeline

    03/24/2015 Plains All American Pipeline LP and Delek Logistics Partners LP have formed Caddo Pipeline LLC, a 50/50 joint venture, to develop the Caddo Pipeline, an 80-mile, 12-inch pipeline between Longview, ...

    WGL Midstream acquires interest in Mountain Valley Pipeline JV

    03/12/2015 Mountain Valley Pipeline LLC, a joint venture between affiliates of EQT Corp. and NextEra Energy Inc., says that a subsidiary of WGL Holdings Inc., WGL Midstream, has acquired a 7% ownership intere...

    Total to be operator of PNG’s PRL 15 JV

    03/02/2015 InterOil Corp. says that all participants in the Petroleum Retention License (PRL) 15 joint venture have unanimously voted to appoint Total E&P PNG Ltd. as operator of the PRL 15 JV. PRL 15 is ...

    More Oil & Gas Financial Articles

    Total completes $1 billion of onshore divestments in Nigeria

    Mon, Mar 30, 2015

    Total has completed the divestment of its stake in onshore Oil Mining Lease (OML) 29 to Aiteo Eastern E&P, a Nigerian company, for $569 million. Together with the recently completed divestments of OML 24 and OML 18, Total’s share of sale proceeds from these three onshore Nigerian blocks amounts to over $1 billion.

    JV awarded contract for LNG liquefaction and export facility

    Fri, Mar 27, 2015

    A joint venture between CB&I, Chiyoda International Corp., and Zachry Industrial Inc. has been awarded a contract valued in excess of $2 billion by FLNG Liquefaction 3 LLC (Freeport LNG) for the engineering, procurement and construction of the third train of the three-train natural gas liquefaction and export facility on Quintana Island, near Freeport, Texas.

    SPDC completes sale of OML 29 and NCTL in Nigeria

    Thu, Mar 26, 2015

    The Shell Petroleum Development Co. of Nigeria Ltd. (SPDC), a subsidiary of Royal Dutch Shell plc, has completed the assignment of its interest in oil mining lease (OML) 29 and the Nembe Creek Trunk Line (OML 29 and NCTL) and related facilities in the Eastern Niger Delta.

    PAA and Delek Logistics form JV to build Caddo Pipeline

    Tue, Mar 24, 2015

    Plains All American Pipeline LP and Delek Logistics Partners LP have formed Caddo Pipeline LLC, a 50/50 joint venture, to develop the Caddo Pipeline, an 80-mile, 12-inch pipeline between Longview, Texas, and Shreveport, Louisiana.

    WGL Midstream acquires interest in Mountain Valley Pipeline JV

    Thu, Mar 12, 2015

    Mountain Valley Pipeline LLC, a joint venture between affiliates of EQT Corp. and NextEra Energy Inc., says that a subsidiary of WGL Holdings Inc., WGL Midstream, has acquired a 7% ownership interest in the joint venture, and that a subsidiary of Vega Energy Partners Ltd., Vega Midstream MVP LLC, has acquired a 3% interest.

    OGFJ photo of the day


    Click to view slideshow

    Oil & Gas Jobs

    Search More Job Listings >>
    Subscribe to OGFJ