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The Best in the Bakken

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July 08, 2011 – Comments (0) | RELATED TICKERS: CLR , BEXP.DL , WLL

The Bakken Shale has been one of the most popular and largest producing shale formations in the U.S. The more popular it gets, the harder it is to get in on the play. However, there are a few companies who got in early enough to acquire good acreagewith good production. Want to know the top 3 companies? Atticvs Research has decided who are the best three companies working in the Bakken. Check ‘em out!

 

 ":Although Continental (CLR) is the single biggest lease owner in the Bakken with 864,559 net acres, it is not a Bakken pure play, with about 50% of sales being generated at other locations in the US – Red River, Niobrara, Anadarko Woodford and Arkoma Woodford. See here for more on each location.

Continental is considered by many to be the leading horizontal driller as well as being the largest land rights owner. It has been responsible for its fair share of firsts in the industry, and there is every reason to believe that management will continue to deliver technical and financial improvements in the next few years.Sales are currently split 65% oil, 35% natural gas and year on year production growth for 2011 has been guided at 35-37%. Within this, Bakken output is estimated to grow over 60% during 2011 and will become an increasing part of CLR’s business with over 70% of the company’s 2011 capex budget aimed at the Bakken." 

 

Find the other two company picks here:  http://turnkeyoil.com/2011/07/08/the-best-in-the-bakken/

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