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Bakken Producers Creating Exciting Upside for Investors



September 01, 2011 – Comments (0) | RELATED TICKERS: SM , SSN , WLL

Jim Cramer keeps raving about the Bakken Shale and the many companies operating there. The Bakken has become quite popular and has numerous companies generating some great income.Michael Filloon suggests some more Bakken companies beyond Cramer’s picks.


Whiting (WLL) was the second largest oil producer in North Dakota at the end of 2010. It has 680,137 net acres in the Bakken hydrocarbon system. It has 65056 net acres in the Sanish area. This has been a great performer. In 2011, Whiting has drilled 21 wells in the Sanish with an average IP rate of 2020 Boe/d. These wells have a 90 day IP rate of 545 Boe/d. Whiting has an aggressive 2011 Bakken drilling program:Sanish/Parshall-95 wellsLewis & Clark-48 wellsHidden Bench/Tarpon-26 wellsStarbuck-7 wellsMissouri Breaks-1 wellCassandra-8 wellsBig Island-3 wells 


SM Energy (SM) has 204,000 net acres with Bakken/Three Forks exposure. It has three rigs running in the area. Of its $1.55 billion 2011 cap ex program, SM will spend $190 million on the Bakken. SM Energy is more levered to the Eagle Ford than the Bakken, but it had a very goodsecond quarter. I believe this trend will continue. SM plans to spend an additional $185 to $205 million on the Bakken in 2012. This is a very good company with a conservative balance sheet and has been beating estimates."



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