Three Forks, North Dakota's next big thing
created: 27 Dec 2011 08:30
tags: bakken oil shale three-forks usa
A couple of years back, nobody except those with a special interest had heard of the Bakken Oil Field. Today, you can hardly read a newspaper without mention of it. Now everyone wants to know where the next "Bakken" is. One candidate is the Eagle Ford Shale Oil Field which has become almost as popular in the press.
Yet North Dakota itself is sitting on yet another formation, The Three Forks Oil Field. In 2010, whilst the Bakken produced 75% of North Dakota's oil, Three Forks only produced 4%. That 4% was from only 7 operating wells! So I think we can expect the statistics to change.
Statoil helped bring Three Forks to our attention with its takeover of Brigham Exploration. Brigham's production mainly comes from the Bakken, but it has a large undeveloped acreage in the Three Forks.
Whiting Petroleum Corporation is an independent that owns and operates oil and gas properties primarily in the Permian Basin, Rocky Mountain, Mid-Continent, Gulf Coast and Michigan regions, and has a strong Three Forks prescence
Northern Oil and Gas controls one of the largest leasehold positions in the Bakken and Three Forks play. They will be one to watch.
Credo Petroleum is a more modest operation, but also focued on Bakken & Three Forks properties.
It has many potential competitors, but the Three Forks play has all the necessary drilling equipment, people and other infrastructure being put in place to exploit its big brother. So very rapid development is assured.
Comments: 0, Rating: 0
Canadian Oil and Gas Companies in Morocco
created: 21 Dec 2011 15:25
tags: morocco tsx
Morocco is the poor relation when it comes to hydrocarbons in North Africa. Algeria and Libya are major players, and Egypt has significant resources as well. Morocco?
Net Importer - 78% of gas consumption and 99% of oil consumption
There are a number of companies working to change that. The belief is that the country has been ignored, and there are hidden gems to be found.
Three companies quoted on the TSX are currently working in Morocco.
- Transatlantic Petroleum has interests in 3 areas
- Serica Energy has a 25% interest in the Foum Draa and Sidi Moussa exploration licences offshore
- Long Reach is a company that only focuses on Morocco and has four proerties both on and offshore.
There is reason to believe that there may be something exciting to be found in Morocco. Kosmos Energy has activities there, and they are the company that discovered the Jubilee Oil Field in Ghana in 2007, one of the most exciting finds in recent years.
Related Pages
New Contracts in Angola
created: 21 Dec 2011 10:28
tags:
Angola is the largest producer of oil in Africa, and has great ambitions to grow its production. Already home to many global oil players, with a large offshore industry, Angola potentially has a great deal more to offer like Brazil, with whom it was once neighbours.
This week, new offshore acreage has been awarded to a number of international oil companies.
BP
BP today confirmed that it has gained access to five more deepwater exploration and production blocks offshore Angola. These give BP a leading position in Angola, with interests in nine blocks accounting for a total acreage of 32,650 square kilometres (km2).
ENI
Eni and Sonangol E.P. signed today in Luanda a Production Sharing Contract (PSC) for the exploration of Block 35, which is situated in deepwater offshore Angola,
Cobalt
Cobalt International Energy, Inc. (“Cobalt”) (NYSE:CIE) announced that at an official signing ceremony today in Luanda, Sonangol and Cobalt executives signed the Production Sharing Contract for Block 20 offshore Angola.
Statoil
Statoil (OSE:STL, NYSE:STO) has been awarded operatorship for blocks 38 and 39 and partner position in blocks 22, 25, 40 in the Kwanza basin in Angola.
Cobalt and Statoil have blocks in the Pre-Salt, the geology that habours Brazil's huge reserves. If the results are anything like Brazil, Angola could be in for a windfall.
Meanwhile, the IEA forecasts that Angola will increase capacity by 360 kb/d to 2.4 mb/d by 2016, and Angola becomes an LNG player next year with the completion of the Angola Soyo Lng Terminal.
