Bakken Formation
The Bakken Formation is a rock unit occupying a substantial part of the subsurface of the Williston Basin, in Montana, North Dakota, and Saskatchewan and is believed to hold a significant amount of oil shale. The state of North Dakota released a report in April 2008 that estimated there are 167 billion barrels of oil in the Bakken. However, the report also concluded that current technology could only extract 1% or 2.1 billion barrels from the Bakken. In report published by the USGS in April 2008, the amount of technically recoverable oil in the Bakken Formation is at 3.0 to 4.3 billion barrels.
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UPDATE - Canaccord Genuity Downgrades Oasis Petroleum (OAS) to Hold; Core Bakken Assets Fully Valued
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UPDATE - Canaccord Genuity Downgrades Continental Resources (CLR) to Hold; Valuation Call and Skepticism as to 2nd Three Forks Value Uplift
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Hess Corp (HES) Expects CapEx of $6.8B for FY12
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ONEOK Partners (OKS) Announces Completion of Natural Gas Processing Facility in N. Dakota
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Dahlman Rose Starts Precision Drilling (PDS) at Buy; Major Beneficiary of Horizontal Drilling Growth in North America
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Continental Resources (CLR) Completes Lyle 1-30H Well; Sees FY11 CapEx of $2B
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LINN Energy (LINE) Issues Update on Granite Wash; Guides FY12 Ops, CapEx
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Canaccord Genuity Reiterates a 'Buy' Triangle Petroleum (TPLM); Strategic Capital Shift to Reduce Completion Variability
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Dahlman Rose Starts Continental Resources (CLR) at Buy; Hitting Its Stride in the Bakken
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DA Davidson Upgrades Investors Real Estate Trust (IRET) to Buy as Occupancy Increases
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Wells Fargo Cuts Valuation Range on Rosetta Resources (ROSE) as South Alberta Basin Disappoints.
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Credo (CRED) Updates on Several Wells in Bakken, Three Forks, Others
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Canaccord Genuity Starts GeoResources (GEOI) at Buy; Concentrated Eagle Ford/Bakken Exposure to Drive Healthy CFPS Growth
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Baytex Energy (BTE) Reports 2012 Capital Budget and Operating Plans
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Enbridge Energy Partners (EEP) Will Invest Another $145M to Enchance its North Dakota Crude Oil System
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Canaccord Genuity Reiterates a 'Buy' on Forbes Energy Services (FES); Analyst Meeting Takeaways
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Williams (WMB) Board Approves Spin-Off of WPX Energy Unit
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KeyBanc Raises Price Target on Kodiak Oil & Gas (KOG), Sees 250% Organic Production Growth in 2012
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Barclays on E&P Monthly: October 2011
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Barclays Maintains an 'Overweight' on QEP Resources (QEP); Highlights from Analyst Day
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Correction - Canaccord Genuity Reiterates a 'Buy' on Triangle Petroleum (TPLM); Focused on Infrastructure and Cost-Efficient Execution in '12
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Canaccord Genuity Reiterates a 'Buy' on Voyager Oil & Gas (VOG); Growth Profile Intact Despite Erratic Completion Schedule
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Canaccord Genuity Reiterates a 'Buy' on Abraxas Petroleum (AXAS); Portfolio Optimization to Enhance Liquidity in Early 2012
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Canaccord Genuity Reiterates a 'Buy' on Northern Oil and Gas (NOG); Shift to Higher-Impact Wells Driving Completion Variability
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UPDATE - Global Hunter Securities Downgraded Northern Oil and Gas (NOG) to Accumulate; Good But Not Great
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Barclays Maintains an 'Overweight' on Tesoro Logistics (TLLP); Raising PT & Estimates
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Canaccord Genuity Reiterates a 'Buy' on Oasis Petroleum (OAS); Optimizing Asset Base for Cost-efficient Execution in 2012
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Barclays Maintains an 'Overweight' on Sunoco (SUN); Pieces Still Worth More than the Whole
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Jefferies Cuts Price Targets on Whiting Petroleum (WLL), Shares are Cheap
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Global Hunter Securities Downgrades Whiting Petroleum (WLL) to Neutral; The Whiting Treadmill: I'm Giving Her All She's Got, Captain
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Graham Corp (GHM) Receives $4.3M in New Orders, Appoints New Sales VP
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Continental Resources (CLR) Increases Production 23%
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Barclays Maintains an 'Equalweight' on Enbridge Energy Partners (EEP); Adds Diverse Set of Growth Projects
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UPDATE - Global Hunter Securities Initiates Coverage on Tesoro Corp (TSO) with a Buy; Yield Enhancement is the Biggest Needle Mover
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Samson Oil & Gas (SSN) Reports US33 #2-29H Ready to Frac
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UBS Maintains a 'Buy' on Hess Corp. (HES); Q3 Results Disappoint; Awaiting 4Q11-1H12 Catalysts
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Notable Analyst Rating Changes 10/27: (CSCO) (OC) (URBN) Upgraded; (BAC) (CA) (V) Downgraded
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KeyBanc Starts Triangle Petroleum (TPLM) at Hold; Emerging Bakken Operator; Waiting for Operated Results
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Barclays Reiterates an 'Overweight' on Newfield Exploration (NFX); Defers Bakken Completions to 2012; Shares Underperform by 15%
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Morning Movers 10/21: (STX) (SYNA) (PGI) (LPL) Higher; (APKT) (CALX) (CPHD) Lower
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Jefferies Slashes Price Target on Newfield Exploration (NFX) by 36% Following Q3 Performance
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Global Hunter Securities Downgrades Kodiak Oil & Gas (KOG) to Neutral; If You Build It, They Will Come...But At What Price?
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Notable Mergers and Acquisitions of the Day 10/17: (KMI)/(EP) (ANDS) (STO)/(BEXP) (AGP)/(ETP)
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MDU Resources (MDU) Sees Q3, FY11 EPS Below Views
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Statoil (STO) to Acquire Brigham Exploration (BEXP) for $36.50/Share; Deal Valed at $4.4B
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Canaccord Genuity maintains a 'Buy' on EOG Resources (EOG); Liquids Growth on Track; Potential Value Uplift from Improving Price Realizations
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Continental Resources (CLR) Expects to Achieve Upper-End of FY11 Growth Outlook
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Benchmark Upgrades Marathon Oil (MRO) to Hold; Valuation and Increased Net Asset Value
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Bakken Play, Refocused Efforts Make Whiting Petroleum (WLL) a Steal - Cramer
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Barclays Maintains an 'Overweight' on ONEOK Partners (OKS); Raising PT Post Investor Conference


