Bakken Shale
The Bakken shale is primarily an oil play. It straddles the US border with Canada and runs through two states – North Dakota and Montana – and two Canadian provinces – Saskatchewan and Manitoba. The US Geological Survey estimates there are 3.65 billion barrels of recoverable crude oil in the Bakken, which would make it the largest oil field in the US outside Alaska. The Bakken is located in the Williston Basin, but not all of the basin includes the Bakken.
The Sanish-Three Forks area is located below the Bakken shale zone and is potentially another new oil reservoir. Brigham Exploration Co. has been active in this area. Natural gas is also found in some parts of the Bakken. The USGS estimates there is about 2.0 trillion cubic feet of gas and another 150 million barrels of natural gas liquids. Major players in the Bakken include EOG Resources, Continental Resources, and Enerplus Resources.
Bakken Shale Map
Bakken Shale News
Brigham Exploration prices common stock offering at $18 per share
Apr 8, 2010
Independent oil and natural gas exploration, development, and production company Brigham Exploration Co. has priced its offering of 14,000,000 shares of common stock at a public offering price of $18 per share in hopes of raising money to accelerate Bakken drilling. |
Lime Rock Resources acquires $113M in oil, gas properties in Texas, Oklahoma
Apr 1, 2010
Lime Rock Resources has closed two acquisitions, totaling $113 million, of working interests in oil and gas properties in Oklahoma and Texas from separate sellers.
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Oil shale deal flow heating up in Bakken, Niobrara
Apr 1, 2010
Since January 2009, the oil–to–gas pricing ratio has averaged 15:1, and it doesn't appear as if this will change anytime soon. |
Oil shale deal flow heating up in Bakken, Niobrara
Apr 1, 2010
Since January 2009, the oil–to–gas pricing ratio has averaged 15:1, and it doesn't appear as if this will change anytime soon. |
Continental Resources prices $200M senior notes offering
Mar 30, 2010
Continental Resources Inc. has priced its private placement of $200 million of 7 3/8% senior unsecured notes due 2020. |
Pioneer Drilling closes $250M senior notes offering
Mar 12, 2010
Contract drilling and production services company Pioneer Drilling Co. has closed its private offering of $250 million of 9.875% Senior Unsecured Notes due 2018. |
February Bakken lease sale 2nd highest in North Dakota history
Mar 5, 2010
North Dakota’s February Bakken lease sale raised $47 million, the second-highest amount in the state's history. |
GeoResources, Resolute Energy enter Bakken oil JV
Mar 4, 2010
Independent oil and gas company GeoResources Inc. and Resolute Energy Corp. have entered into announced a joint venture project to develop acreage in the Bakken Shale Trend of North Dakota. |
Saxon president, CEO to retire as company looks to sell non-core assets
Feb 10, 2010
Richard Green, president and CEO of Saxon Oil Co. Ltd. has retired his positions as well as his seat on the company’s board of directors. |
Hess earmarks majority of $3.9B budget for E&P
Dec 16, 2009
Hess Corp.’s $3.9 billion capital and exploratory budget for 2010 is earmarked almost entirely for exploration and production. |
AN INTERVIEW WITH TOM AND LAURIE CUNNINGTON: Privately-held Ward Williston leverages its E&P operation and oil service division
Dec 1, 2009
Combining expertise and sharing information helps the company control costs and produce more efficiently, thus generating more value for its investors.
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California-based Aera Energy ranks first among largest US private oil producers
Dec 1, 2009
According to the IPAA, about 90% of US oil and gas production comes from independent operators.
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Baker Hughes achieves 24-stageopen isolation in Bakken shale
Nov 13, 2009
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Shell wins conditional approval to explore Beaufort Sea
Nov 1, 2009
The Department of the Interior's Minerals Management Service (MMS) has approved, with conditions, Shell Offshore Inc.'s Exploration Plan to explore two leases in the Beaufort Sea.
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Investors targeting shale plays
Oct 1, 2009
Energy investors are fond of resource plays, and they seem to love shale assets best.
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The “natural gas revolution” is changing global energy dynamics, including the outlook for energy security in the United States and elsewhere. In his keynote speech to the annual 31st annual CERAWeek Executive Conference in Houston, Peter Voser, CEO of Royal Dutch Shell plc, outlines what the industry and policymakers must do to ensure society fully leverages the many benefits of natural gas. He calls for well-targeted and robustly enforced regulations to ensure tight and shale gas production meets the highest standards. He also urges the industry to do a better job of listening and responding to public concerns about the environmental and operational challenges associated with gas production.
Read the full speech by Peter Voser here.
The total value of US oil and gas mergers and acquisitions increased significantly in 2011 due to continued investment in US shale plays and related infrastructure, sustained interest from foreign buyers, and private equity entrants deploying capital in the energy industry, according to an analysis of energy M&A data by PwC US. A major trend in the energy sector driving the increase in deal value throughout the year was a shift towards more investments in oil and liquid plays as natural gas prices remained depressed amid hitting a 10-year low in 2011.
Read more here.
Can the shale gas r
evolution currently taking place in the US be repeated elsewhere? Although significant volumes of unconventional gas deposits are present in Poland, France, Germany, Hungary, Sweden, Turkey, and the UK, shale gas developments are running many years behind their counterparts in the US. Skeptics have pointed out that differences in geology, taxes, public acceptance, environmental regulations and other factors in Europe vs. the US make for a tougher environment in which to develop unconventional resources.
Read the article by Bart J. A. Willigers of Palantir Solutions Ltd. here.
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