Production with low crude oil prices...what does this mean for Roosevelt County

Greetings all,

It's been awhile since I've been on this site as "status quo" seemed to be the order of the day from looking at the Montana OIl and Gas weekly reports. That being said, it was also reported in our local newspaper (last week) that Oasis Oil is cutting back (by %50) on their dollars being spent on drilling new wells and also on the intensity of the fracking crews in terms of slowing down the pace, even of wells already drilled. Note, the article did not distinquist between North Dakota and Montana activity. THus, the basic question is, for those in the know, what concrete information is out there in the 2015 plans for Roosevelt County. Is there any concrete news that is able to be reported?

If you can tell the oil companies how low oil will go, they can tell you how few wells they will drill in poor producing eastern Montana! Dropped to $64 and change today..not encouraging! With Russian Rubles becoming worthless and Venzquala going broke there are many things to consider! Not only no concrete, but all press releases will be subject to change!

Yup…that’s what I’m finding. I went back to the Oasis website and their December presentation where they highlighted dropping to 6 rigs by March 2015…and all six rigs will focus in on the North Dakota side of the border…if I remember correct they spoke about the Indian Hills area. Thus, the Montana side needs to wait for conditions to change. Thus, I give thanks for the wells that are already in place. May they keep producing as it appears new wells are going to be few and far between.

I spoke with the Land dept at Oasis yesterday… He said they are laying down 12 rigs by the end of January…David is right, they are to leave 6 rigs in North Dakota. They also are laying off landmen. He said they will evaluate leasing sometime after January.