Sweet 16 member, Newfield Exploration (NFX) has already drilled five verticle wells and two horizontal wells in western Montana's Alberta Basin Bakken play. NFX has a large leasehold position already and they are agressively getting more.
Read this: http://www.beatingtheindex.com/
Rosetta Resources (ROSE), a company high on our Watch List is also very active in the play and they have anounced that up $40 million in capital will be invested in it during 2011. ROSE has drilled seven wells, one with a 4,000 ft. horizontal leg.
Primary Petroleum (PETEF.PK), a micro-cap that hosted our EPG luncheon last week holds over 200,000 net acres just to the south of NFX and ROSE.
NFX: Alberta Basin Bakken
NFX: Alberta Basin Bakken
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group
Re: NFX: Alberta Basin Bakken
HOUSTON, Feb. 7, 2011 /PRNewswire/ -- Newfield Exploration Company (NYSE:NFX) today announced that its proved oil reserves at year-end 2010 totaled more than 200 MMBbls, a 20% increase over year-end 2009 proved oil reserves. The significant rise in the quantity of proved oil reserves contributed to more than an 80% increase in the present value of Newfield's proved reserves, discounted at 10%, (PV-10 Value), which totaled $6.8 billion at year-end 2010.
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group