DNR and Bakken

[bearcatbob]

Below is part of a new NR from Brigham on a Bakken well completion. When do you think we could see shuch announcements from DNR.

Brigham Exploration Announces High Rate Bakken Completions, Updates Second Quarter 2010 Production Guidance and Provides Operational Update
Ticker Symbol: U:BEXP
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http://at.marketwire.com/accesstracking ... urceType=1
Brigham Exploration Company (NASDAQ: BEXP) announced the completion of the Ross-Alger 6-7 #1H, the Owan 29-32 #1H and the Abe 30-31 #1H at early 24 hour peak flow back rates of 3,070, 2,302 and 1,847 barrels of oil equivalent, respectively. To date, Brigham has successfully completed 26 consecutive long lateral, high frac stage wells at an average early 24 hour peak flow back rate of 2,648 barrels of oil equivalent. Brigham also provided an operational update. Importantly, as a result of strong well performance, Brigham is updating its second quarter 2010 production guidance and is currently estimating that production will average between 7,000 and 7,500 barrels of oil equivalent per day.

Here is a link to DNR NRs. Note there are none re the Bakken.

http://phx.corporate-ir.net/phoenix.zht ... news&nyo=0

Bob

[dan_s]

Bob;

DNR is really not a Bakken play. It has some, but not significant compared to their focus on tertiary recovery projects. See my Sweet 16 Detailed Update.

AEZ and KOG (along with BEXP) are almost pure plays on the Bakken.

EOG has the best technical team working the Bakken. Sweet 16 members PetroBank and GEOI also have exposure to the play.

PDS has exposure to the Bakken in that they have a lot of rigs working the play both north and south of the border. In fact, I think the onshore drillers could be gaining a lot of business because of what is happening in the Gulf of Mexico. HP recently announced that demand for their flex rigs has really picked up in the last 30 days. PDS is a lot more than a driller. They provide a full range of oilfield services that are in high demand in the Bakken. PDS is going to have a very strong second half.

Dan

[prince_jake_33]

DNR has the Encore holdings. They have several well drillers in Bakken. You can enter "North Dakota drilling"

[dan_s]

Denbury does have the Bakken acreage as a result of the Encore merger but IMO it is not as significant (yet) as what they have going in their tertiary projects. Still, it is a nice asset. 2nd quarter results should be an eye opener for the market.

DNR is a heck of a buy at its current price.

Dan

[dan_s]

Read what I have to say about DNR in tomorrow's "Sweet 16 Detailed Update.

Go to the website
Clcik on Sweet 16 tab
Click on Sweet 16 Forecasts