Bakken
Posted: Tue May 27, 2014 8:14 am
I think our Bakken companies are going to report stronger results each quarter this year. 2nd quarter results will be good and 3rd quarter results should be GREAT. - Dan
Warmer weather to boost Bakken oil producers, RBC says May 21 2014, 18:30 ET
Oil and gas producers in the Bakken Shale saw a pickup in production in March and should see an even bigger increase as the weather turns warmer, according to a new report from RBC Capital.
Bakken development activity rose to 200 well completions in March vs. 70 in February, and well backlog remains high at ~635 wells, RBC says, expecting operators to work through the backlog since North Dakota has experienced a relatively warm spring.
"As completion activity catches up in the early summer and drilling activity remains strong, oil production should top 1M bbl/day around mid-year, the report says.
The projection bodes well for producers with a heavy footprint in the Bakken, such as Continental Resources (CLR), EOG Resources (EOG) and Kodiak Oil & Gas (KOG).
Warmer weather to boost Bakken oil producers, RBC says May 21 2014, 18:30 ET
Oil and gas producers in the Bakken Shale saw a pickup in production in March and should see an even bigger increase as the weather turns warmer, according to a new report from RBC Capital.
Bakken development activity rose to 200 well completions in March vs. 70 in February, and well backlog remains high at ~635 wells, RBC says, expecting operators to work through the backlog since North Dakota has experienced a relatively warm spring.
"As completion activity catches up in the early summer and drilling activity remains strong, oil production should top 1M bbl/day around mid-year, the report says.
The projection bodes well for producers with a heavy footprint in the Bakken, such as Continental Resources (CLR), EOG Resources (EOG) and Kodiak Oil & Gas (KOG).