Zeb:
Thanks for sharing this information.
Cara:
I believe this refers to the long laterals and multi-stage fracks which has been highly successful in the Bakken tends to have great results on the Three Forks formation.
Thank you Cara,
Although while the headline of the article about drilling techniques working in both places is good news my main purpose was to expose you to information about the characteristics of the various shale plays…shale layers as well as stimulate conversation as to how this information applies to leasing… ie. pugh clause, im still not clear on that one and how it applies to the spacing of each formation. we are here to learn and what teacher would limit the paper a student could use!
So I read Bakken tricks work on the Three Forks article and what does this mean exactly? Don’t want to use up the post space, so if someone wouldn’t mind writing me that would be great!
Thank you everyone for the words of encouragement! I’m just frustrated cause I can’t find any info on going rate in blaine county. I have 1600 acres and it is surrounded by oil and gas! One well is on my property but capped… I just started my research and feel like I’m just spinning my wheels with no solid info.
http://www.undeerc.org/bakken/depositionalenvironments.aspx
This is another good description of the bakken deposits, a cross section view if you will…
on the diagram i posted below you can see that some of us are on the western slope of the western trough of the Nesson Anticline . Extending the well bore into the trough of course is most desirable as the lowest part of the source rock is obviously going to produce the longest.
Thanks for the help! Starting to understand it.
Cara:
The article joel posted will link you to the example stage lease which consists of the minimum requirements for the lease under state law, however reading the article you will see that there are provisions that the state lease does not contain they are highly recommended by the authors at the state law university…should be required reading! thank you joel
Royalty Owner Information Center… some very good advice found here. The north dakota petroleum council is an invaluable forum for mineral interest owners!
One of the Reef purchases is the WHC Exploration LLC wells and leases. The area has room for 1000 more wells and this partnership has money to drill 300. Since the initial investment was over subscribed they are going out to the partnership and see if they will vote to add partners and drill more wells.
Hello all. Im a Canadian ‘Bakkan’- freeholder, and want to raise awareness of a lease for freeholders in Canada that is written for OUR benefit, not the oil companies. Since the laws are different in the USA , I started a group for Canada, but their are so few of us. The link to the lease is in the Canadian group. Lori.
Thanks Lori for starting a Canadian group, I haven’t had time to check it out yet, but I will. I live in Alberta and have mineral rights in Daniels County in the Bakken Shale. Maybe we’ll get rich eh? LOL
North Dakota is planning on bringing state leases up to the same royalty rates private owners are negotiating… a good idea here how much you should ask for royalty percentage.
http://bismarcktribune.com/news/local/state-looking-to-get-more-mon…
Is this in the US or in Canada. My geography is pretty poor. Took me forever to figure out I was near Wawotta SK.
“Daniels County in the Bakken Shale”
Great news Zeb. I bet ND schools are strained to limit in the west, along with most other public services. I’m sure the money will be welcome as schools do not build themselves.
From the Q&A portion of the Whiting 2Q11 conference call regarding the Scallion:
Joel,
Yes, “OOIP” refers to Original Oil In Place, Whiting is trying to demonstrate oil reserves. Swing for the fence I believe refers to Whitings testing of the boarders of known producing areas to further define areas of interest. Another thing to keep in mind is that the Scallion formation is of limestone and dry wells can also serve as frack water waste wells. As such, of course they do not produce the income of an oil producer but they do provide some income.
oh yes, the north meets south, this is an area where the deeper red river oil shale is located. This Red River shale comes up north towards the Scallion, intermingles with what was called the old middle bakken, aka three forks. this increases the odds that a low producing horizontal well could be reworked and completed as a vertical.
I think we can make an interactive spreadsheet that will do what you are suggesting. At the brokerages we could pull live quotes and make pie graphs that changed minut to minut in excell. With some thought it could be done.