The Bakken Shale is being drilled by some of the best energy companies in the USA.
While the Bakken Shale Formation is still young, stocks of these companies will rise if oil prices are high and they show
positive oil well results. Below is a list of Bakken Shale Stocks and the latest operational updates. Also, check
out some of my Oil Stocks Picks.
Continental Resources Inc. (CLR) - Continental Resources Inc. (CLR) is one of the top Bakken Shale companies right now. For the fourth quarter of 2010,
Bakken production climbed to 22,520 Boepd, or 47 percent of Continental's total production, compared with 36 percent of production
in the fourth quarter of 2009. On a year-over-year basis, Continental's Bakken production increased 64 percent over the fourth
quarter of 2009.
In the North Dakota portion of the Bakken,
Continental's fourth quarter 2010 production was 17,834 Boepd, an increase of 113 percent over the total for the fourth quarter
The Company participated in completing 77 gross (26.4 net) wells in the North
Dakota Bakken in the fourth quarter of 2010, with initial production rates averaging 1,002 Boepd during single-day test periods.
During 2010 as a whole, the Company completed or participated in completing 222 gross (71.1 net) wells in the North Dakota
Bakken, bringing its total wells drilled in this part of the play to 475 gross (150.2 net) wells at December
31, 2010. More......
Brigham Exploration (BEXP) - Brigham Exploration Company (NASDAQ: BEXP) announced that it will begin its acceleration to 12 operated Williston Basin
rigs in 2011. Brigham also announced micro-seismic monitoring and production results that appear to support four wells per
producing horizon per 1,280 acre spacing unit, or eight total Bakken and Three Forks locations per spacing unit. Brigham announced
that the Swindle 16-9 #1H, its second Montana Bakken completion, produced at an early 24-hour peak flow back rate of approximately
1,065 barrels of equivalent. Brigham also announced the completion of two additional North Dakota Bakken wells at an average
early 24-hour peak flow back rate of 3,513 barrels of oil equivalent. Finally, Brigham provided an update on its drilling
and completion activities in the Williston Basin.
Montana Bakken Completion Results / Update
Brigham announced that the Swindle 16-9 #1H, which is located in Roosevelt County,
produced approximately 1,065 barrels of oil equivalent during its early 24-hour peak flow back period. The well was completed
with 19 fracture stimulation stages as the liner with swell packers did not reach total depth. Approximately 3,200' of the
outermost wellbore was completed with a single open hole fracture stimulation.
is currently in the process of fracture stimulating the Johnson 30-19 #1H, which is located in Richland County, with 30 fracture
stimulation stages after successfully running the liner to bottom. Also in Richland County, Brigham is in the process of recompleting
the Voss 21-11H, which was purchased from another operator who drilled and completed it in August 2007 with a single fracture
stimulation. The old liner was successfully removed from the wellbore and Brigham is in the process of cleaning out the entirety
of the wellbore in preparation of running a liner with swell packers in order to stimulate the well with 28 stages.
Whiting Petroleum WLL - Whiting Petroleum (WLL) is very active in the Bakken Formation and the Sanish Field, Three Forks zone. Whiting's net production from the Middle Bakken
and Three Forks formations in the Sanish and Parshall fields of Mountrail County, North Dakota averaged 28,020 BOE per day
in the fourth quarter of 2010, up 2% from the 27,385 BOE average daily rate in the third quarter of 2010 and up 50% from the
18,625 BOE average daily rate in the fourth quarter of 2009.
Sanish Field. Whiting owns 109,233
gross (66,537 net) acres in the Sanish field, located in Mountrail County, North Dakota. Whiting's net production from the
Sanish field in the fourth quarter of 2010 averaged 23,465 BOE per day, up 5% from the third quarter 2010 average rate of
22,275 BOE per day and up 96% over the fourth quarter 2009 average rate of 11,955 BOE per day. Our net production from the
Sanish field averaged 22,270 BOE per day in December 2010, a 3% decrease from 22,935 BOE per day in September 2010. The decrease
was due to well completion delays from inclement weather in North Dakota.
Based on results of the Company's microseismic
studies and reservoir pressure monitoring in both the Bakken and Three Forks formations, it appears that additional infill
drilling is necessary to maximize recovery in the Sanish field. As a result, Whiting has increased by 153 the total number
of gross operated wells that it expects to drill in the Sanish field to 535 gross wells from the 382 gross wells previously
planned. Approximately 83 of these additional well locations are planned to be "wing wells," which are expected
to have 7,500-foot laterals and to be drilled primarily in the northeast and southwest portions of the field's 1,280-acre
units. Whiting has elected to drill three Three Forks wells per 1,280-acre unit as compared to its previous plan of two Three
Forks wells per unit. This decision adds 80 potential gross well locations in the Sanish field. Including non-operated wells,
Whiting estimates that more than 300 gross wells remain to be drilled in the Sanish field as of February 15, 2011. .
Kodiak Oil & Gas (KOG) - Bakken/Three Forks Development: Dunn County, N.D. (59,000 gross and 34,000 net acres)
In 2010, Kodiak spud or participated in 13 gross (6.0 net) wells and completed 11 gross (4.7 net)
wells on its Dunn County leasehold. To date, the Company has drilled a total of 24 gross (12.0 net) wells with 20 gross
(9.5 net) wells completed and on production.
During 2011, Kodiak
plans to drill or participate in 29 gross (16.7 net) wells and complete 26 gross (15.8 net) wells in this area. Of the
29 gross wells to be drilled, an estimated 19 will be operated by Kodiak with an average working interest of 64%. As
of February 28, 2010, three gross (1.95 net) operated wells and two gross (one net) non-operated wells were drilled and awaiting
completion in Dunn County. Completion work is projected to begin in early second quarter in this area.
McKenzie County, N.D. (37,500 gross and 25,500 net acres)
In 2010, Kodiak spud or participated in seven gross (4.1 net) wells and completed two gross (1.0 net) wells
on its McKenzie County leasehold. During 2011, Kodiak plans to drill or participate in nine gross (6.7 net) wells and
complete 10 gross (7.7 net) wells in this area. Kodiak expects to operate all nine gross wells to be drilled, with an
estimated 74% average working interest. As of February 28, 2011, three gross (2.4 net) wells, one of which is a Three
Forks test, were drilled and awaiting completion in McKenzie County. Completion work is scheduled for March 2011 on
the first of two drilling pads in this area.
Chesapeake Energy (CHK) - Chesapeake Energy (CHK) has acquired
a 100,000 acre position in the Bakken Shale. More