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  • Kodiak-Whiting Merger Will Be Hugely Beneficial For The Shareholders [View article]
    Eric -- Yes, this clarifies the issue. The article reads as if KOG holders will get 0.177 shares of WLL at July 11th's closing price, and only at the July 11th closing price (not at WLL's future price). Thanks for your reply, regards.
    Aug 20 03:48 PM | Likes Like |Link to Comment
  • Kodiak-Whiting Merger Will Be Hugely Beneficial For The Shareholders [View article]
    Just trying to get clarification here regarding what KOG share holders will get for their shares when the deal closes. As per this SA article:

    "Under the agreement, Kodiak will receive 0.177 of a share of Whiting stock in exchange for each of its common stock, based on Whiting's closing common stock's price on July 11; this equals to $13.90"

    The SA article implies that KOG holders will get $13.90 for each share of KOG, period. Is this correct, or not? Regards.
    Aug 19 05:59 PM | Likes Like |Link to Comment
  • Exxon Mobil's 570,000 Bakken Acres: Going Into Development Mode [View article]
    Mike - Nice article (as usual). I saw Exxon's Bakken 'tight oil' information in their annual report. It was nice to see that they now have a large acreage position in the play. I'm not directly plugged in with Exxon as I used to be, but I would venture to say Exxon has learned a lot from their JV partners in the Bakken (i. e. KOG and others). KOG's application of new found experience and technology is significantly faster than Exxon can move. Exxon's tight oil experience via TXO helped them get into the Bakken, and maybe some of the talented Geo & engineering folks at Exxon who worked on horizontal drilling and completion technology back in the 1990 era are working the play.

    I hope to see Exxon/XTO develop better wells in the future than what they have done in the past years in the Bakken. The 59kboed was nice to see, but I would like to see their drill well economics for the 2013 Bakken tight oil program. After glancing at some of Exxon's drill well results from other SA articles (Filloon's data I think), it appeared that they were struggling to get some consistently good drill well results in the play. I assume now that with many technology and cost improvements Exxon's future drill wells will be up to par with some of the smaller to mid size operators in the play. For sure Exxon has some advantage due to their size and infrastructure working relationships. Regards.
    Jun 3 01:02 PM | 1 Like Like |Link to Comment
  • Warning Signs For Kodiak Oil And Gas [View article]
    I recommend that the author of this new SA article read the recent AAPG Explorer article regarding our countries 'Shale Boom' (Today’s Shale Boom: Nothing Invisible About This Story).

    The SA author asserts: "Unfortunately this method has limitations in its application to horizontal drillers like KOG. As horizontal drilling with long laterals is a quite new technique, there is a lack of data about the typical decline rates in the long run."

    This assertion is unfounded and grossly behind the times. The AAPG article essentially spells out how folks in the oil & gas industry are very familiar with the technical aspects of shale drilling, including decline curves, horizontal laterals, fracture techniques, etc. In the AAPG article they note how everyday there are new articles about this new shale energy boom. Yet to the professionals in the industry, this is not new news regarding the shale energy boom.

    As per the AAPG article: "Seemingly everywhere I look there is a new cover story or feature article on the “energy renaissance” or “shale revolution” that is transforming global oil and gas markets and handing the United States a sizable geopolitical advantage. Back-to-back issues of the journal Foreign Affairs have covered the subject, and it’s also been featured recently in a special section of Petroleum Economist."

    The AAPG article responds to the 'new cover stories of shale energy revolution' with this statement: "For those of us in and around the oil and gas industry there isn’t a lot of new information in these articles."

    KOG is part of the experienced and talented energy complex in our country. They know what they are doing, and furthermore KOG is innovating by developing better techniques to extract oil and gas from the prolific Bakken Play. This SA article would have been appropriate if written 5 to 10 years ago, but not today. Regards.
    Jun 2 04:10 PM | 9 Likes Like |Link to Comment
  • Warning Signs For Kodiak Oil And Gas [View article]
    Should be interesting to hear Filloon weigh in on this article. G8t made a number of good comments related to how the E&P business works, and also how the science behind the wells needs to be considered. His most important comment -- refuting the authors assertion that long horizontal laterals are new to the E&P business. There is a long history of drilling 5000 foot laterals. Look back to 1989-90 when 1000 horizontal wells/year were drilled in the fractured Austin Chalk Play. That was 24 years ago.

    There has been plenty of experience with looking at drainage and EUR data from fast declining horizontal wells. There are a number of operators who have made the transition to positive cash flow in the Bakken, just as there have been a number of operators who have not made the transition to positive cash flow in the Bakken. I believe KOG is one of the best operators in the play. They have learned invaluable experience with their efforts and they put that new knowledge to work as soon as it is practical to do so. And KOG has some great acreage to work with, just as they have some dog acreage to deal with. That is just how the business works. You find out where the good acreage is and you develop the good acreage and get rid of marginal to bad acreage. The author doesn't seem to understand how the E&P business works. Bottom line - KOG is a good operator and worth betting on. And they will not grow their production at the rate they have over the past 2 years, but they just need to develop the acreage in a economic manner (get their debt down and run off their cash flow). Regards.
    Jun 2 02:30 PM | 10 Likes Like |Link to Comment
  • Demand, not supply, about to take hold of natural gas prices [View news story]
    Explain please how demand is increasing or decreasing relative to supply. Regards
    May 27 07:26 PM | Likes Like |Link to Comment
  • Monterey Shale downgrade doesn’t dent U.S. shale boom, experts say [View news story]
    coyote -- If this is true regarding Oxy's Bakken program, it is sad. Whenever you explore or develop a field area you need to have experienced geoscientist/engineers & field-hands involved, period. To many Corps have their shining stars ride in on the fast horse, only to bailout with negative results. If in that position, you work with your seasoned oil finders along with the new personnel. Regards.
    May 23 10:35 PM | 2 Likes Like |Link to Comment
  • Kodiak Oil's (KOG) CEO Lynn Peterson at Global Oil and Gas Conference -Transcript [View article]
    KOG's Bakken Play is a very exciting undertaking. I wish my health would have allowed me to stay in the oil patch because finding and producing oil and gas is a very exciting and addicting adventure. I can tell that KOG is working hard to reach their goals and they are having a blast while working hard. KOG would be a very exciting company to work for as a geoscientist and/or engineer. They get things done and they make changes to optimize their programs much faster than a major O/G company could or would do. Regards, and good luck to KOG.
    May 21 02:19 PM | 3 Likes Like |Link to Comment
  • Imperial Oil seeks Arctic well as much as six miles deep [View news story]
    I assume the total length of the well will be the stated 34k ft. But the vertical depth of the well (TVD) will be significantly less/shallower than the stated 34k feet. This is how Exxon drilled the Sakhalin Island long reach well. They drilled off an existing island north of Japan where the target field was about 6 miles offshore in the hostile waters of the Pacific Ocean. It was cheaper to drill from land and direct the well over 7 miles off the island to reach the offshore oil/gas field. This was a great achievement, and the well was drilled under schedule.

    This is another reason that Russia partnered up with Exxon to develop the Sakhalin field areas. Regards.
    May 19 02:57 PM | 2 Likes Like |Link to Comment
  • Exxon says it doesn't plan to leave Sakhalin-1 project in Russia [View news story]
    I agree that Mr. Putin is much more savvy regarding international politics than Obama is. Russia likes Exxon because Exxon has the technology to get the job done, and to do it efficiently. Secondly Russia likes Exxon because Obama hates Exxon. Hate is a strong negative word, but remember how many times Exxon was flashed around in a very hateful and negative way during Obama's run for the Presidency. He totally trashed Exxon in order to get voters. How can anyone respect a person who takes that approach with a very successful U.S. company that our country needs and relies on. I assume Obama is a nice/fun guy to know and be around as a friend, but I sure do not respect his tactics nor his mission for this country.

    As posted by others here, Syria is just as bad, or worse, than when the press was covering that story, and Obama did absolutely nothing, yet the press has forgotten about Syria. I assume Crimea will be the same. The big story regarding Ukraine IMHO is their interests in the Black Sea. As Russia takes over those interests, Russia will keep their strangle hold on Ukraine's energy needs.

    It should be interesting how the Russia/Exxon situation shakes out, but I will be standing ready to buy Exxon if it drops in price. Regards, and nice comments.
    May 18 12:52 PM | Likes Like |Link to Comment
  • Exxon Mobil: How Long Can The Stock Fly? [View article]
    What amount of correction do you anticipate for Exxon (what dollar range, or percentage range)?
    May 12 01:29 PM | Likes Like |Link to Comment
  • BNSF says federal order won't affect rail shipments [View news story]
    Does anyone think that the present administration would tell Buffett's BNSF railways it could not ship oil from the Bakken. Mean while the Keystone pipeline is not approved to build even though the studies to determine if it is safe have all said yes it is safe and the pipeline would not produce anymore atmospheric pollution than the railways do shipping oil.
    May 9 11:06 AM | Likes Like |Link to Comment
  • Whiting USA Trust Now Worth Less Than $2.15, Will Fall To $0 In 12 Months [View article]
    I agree, buy an oil ETF, not this expiring Trust. Thanks for the interesting article on Russian oil, etc. Regards.
    Apr 29 02:10 PM | Likes Like |Link to Comment
  • Chevron And Exxon: Which Is The Better 'Buy And Hold Forever' Stock? [View article]
    I thought Saudi opened the valves to regain and maintain control of OPEC oil prices. In 1986 I know US oil companies literally laid down rigs over night. We had a very robust full rig schedule lined out, and we cut it by about 67% as soon as the Saudi output caused the price of oil to drop dramatically. Our prospects could not meet our internal IRR hurdle with the lower oil prices, so we had rigs put in cement plugs, and paid them to not drill. Regards.
    Apr 28 03:32 PM | 7 Likes Like |Link to Comment
  • $50B Kashagan oil project could be delayed another two years [View news story]
    What estimated impact to Exxon's bottom line this year could/would the delay cause? Regards.
    Apr 28 11:49 AM | Likes Like |Link to Comment
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