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Bakken Shale - Oil & Gas Discussion

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Bakken Shale - Oil & Gas Discussion

Oil & gas discussion group for those interested in Bakken Shale. Share your experience regarding lease bonus, royalty rates, drilling activity, and oil & gas news.

Members: 381
Latest Activity: 18 hours ago

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williams county ND

Started by Deborah Haug. Last reply by Joan M Osland Graffius 18 hours ago. 1 Reply

My lease with Halcon expired last year and the company chose not to renew. Before that, they had completed the geological survey and gotten permitted. My land is in Williams County  T157 R103 S15. It…Continue

Oil checks

Started by Pat Maloney. Last reply by Dctex99 Jan 11. 5 Replies

Hi all,I have a beef with our oil company with which we have 13 active wells.  Each month our moneys should be going up due to increase in oil prices that month.  We always get our checks for 2…Continue

selling mineral rights in the Bakken field

Started by Bette Liberatore. Last reply by Bart Barton Jan 4. 47 Replies

I have 20 acres of rights in the Bakken field which are producing currently.  I have received unsolicited offers of up to $6500 per acre for my rights and wondered if anyone can tell me what a decent…Continue

Looking for Mineral Rights to Lease

Started by Scott Varner. Last reply by r w kennedy Nov 5, 2016. 14 Replies

I am currently seeking landowners and mineral owners to lease from... Anything from 2-3 sections and up to 15-25 sections....Continue

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Comment by Joan M Osland Graffius on January 12, 2017 at 5:22pm

Reef Oil and Gas Companies has an interesting new partnership in the Bakken area. If you want to find out about it call them.

Comment by r w kennedy on December 9, 2016 at 12:17am

There are many others and I actually heard about the situation on tv some time ago.

Comment by Joan M Osland Graffius on December 9, 2016 at 12:13am

that article is written by an attorney that is looking for business. <smile>

Comment by r w kennedy on December 8, 2016 at 11:23pm

I hear there were a few winners with REEF and I hope you are one of them.

http://www.whitesecuritieslaw.com/2013/02/08/update-on-securities-f...

Comment by Joan M Osland Graffius on December 8, 2016 at 10:33pm

Is anyone investing in Reefs plan to get rid of the bank in the 2011 Bakken partnership.

Comment by r w kennedy on November 2, 2016 at 4:10am

Update on my post below. The wells to be drilled by Burlington Resources AKA Conoco Phillips are projected to cost between 6.6 and 6.8 million dollars each. The most recent well drilled by Burlington/Conoco on land pooled with ours in late 2015 produced 226k barrels of oil in the first 9 months. The wells are not skimped on, they are just that much cheaper than they used to be and much better in all technical aspects at the same time.

I'm not totally thrilled with my oil being pumped at current prices but these wells are going to be profitable. The acres are already HBP, they don't have to drill these wells.

Comment by r w kennedy on October 4, 2016 at 12:31am

My brother tells me he received another 4 well proposals for 149-96 section 9 Mckenzie county. His mail runs a day faster than mine. Three of the wells costs are sub 7 million and one is estimated to be slightly more than 7 million dollars.

In 2011 these would have been 10+ million dollar wells. Todays oil prices are not ideal but they will not kill the Bakken. The operators know where the oil is, they know to a close order how much it will cost to get out. Operators will not forget where it is. If they have a well holding a lease, that's sunk cost and they can afford to wait.

Comment by M Barnes on September 20, 2016 at 3:11pm

I agree with Mr. Kennedy.  No where near dead.

Comment by r w kennedy on September 20, 2016 at 3:08pm

The Bakken has not begun dying. They are still drilling wells in the sweet spots. I hear there are about 1200 drilled uncompleted wells in ND. I have had wells drilled in spacings where my mineral rights are in McKenzie county and in Dunn county, late 2015 and mid 2016.

They are drilling much better wells with much better completion techniques that cost 1/3 less than they did 3 years ago.

I would make sure you have something better to go to before you cash out of the Bakken. Much better if you consider the 15% capital gains tax you are going to have to pay.

Comment by Jamie Guthrie on September 20, 2016 at 2:24pm

Just saw an article today title "The Death of the Bakken Field has Begun".  Sounds discouraging, and I am open to other opinions on the topic of declining production in the Bakken, but I think there is a lot more exploration to be done in North Dakota.  If you know of anyone seeking to lease open minerals, sell mineral rights, or needing consulting work, please friend me and message me for opportunities.

Brighter days are ahead!

 

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