Woodford Shale and Bakken Oil and Gas Stocks; (OTC.BB: AAPH), (NasdaqGS: BEXP), (NYSE: DVN), (NYSE: MRO), (NYSE: CLR)
Point Roberts WA- May 17, 2011– Investorideas.com, an investor research portal specialized in sector research including oil and gas stocks, issues a sector close up on oil and gas shale stocks as the plays heat up. High oil prices have brought in more players into the shale stock plays. An estimated 160 oil and gas companies are now in the Bakken play.
American Petro-Hunter (OTCBB: AAPH) 52 Week range of $0.24 - 0.93
Brigham Exploration Company (NasdaqGS: BEXP ) 52 Week range of $13.45 - 37.87
Continental Resources (NYSE: CLR) Week range of $38.23 - 73.48
Devon Energy (NYSE: DVN) Week range of $58.58 - 93.56
Kodiak Oil & Gas Corp (AMEX: KOG ) Week range of $ 2.43 - 7.70
Marathon Oil (NYSE: MRO) Week range of $ 29.91 - 54.33
North American Bakken Oil Field Play - covering parts of Montana, North Dakota, and Saskatchewan.
The USGS estimate of 3.0 to 4.3 billion barrels of undiscovered, technically recoverable oil in the Bakken Formation, and a mean estimate of 3.65 billion barrels, is an estimate of what industry may recover if the entire area of prospective Bakken Formation is produced using current technology. The current USGS mean estimate is a 25-fold increase over the previous USGS estimate, in 1995, of 151 million barrels of undiscovered technically recoverable oil in the Bakken Formation. As of August 2009, cumulative oil production from the Bakken Formation totaled about 190 million barrels (up from 164 million barrels in March 2009, 149 million barrels in December 2008 and 135 million barrels in September 2008).
Woodford Shale Emerging as a Leading Domestic Oil and Gas Play
Recent Commentary: Patrick J. Murphy, of Murphy Analytics LLC
As noted by American Petro-Hunter (OTCBB: AAPH) CEO Robert McIntosh in the Company’s January 2011 Corporate Newsletter, production in the Woodford Shale has skyrocketed over the last few years. CEO McIntosh and others have referred to the Woodford as a world class oil and gas target, an assertion that seems justified given that the Woodford Shale now ranks second domestically in gas production and fifth in oil production. Following is data and commentary related to the operations and outlook for some of the Woodford Shale’s most active players.
Devon Energy (NYSE: DVN): In a presentation at the Oppenheimer Unconventional Oil and Gas Conference, DVN noted that its Woodford assets benefit from a low cost of entry at approximately $2,200 per acre and a low average royalty burden at approximately 21%. The Company also notes that it recently completed construction of a gas processing plant, and after drilling 87 wells in 2010, DVN plans to drill over 200 wells in the Cana-Woodford Shale in 2011. Discussing the Company’s Q4 2010 earnings, CFO and Executive Vice President Jeffrey Agosta commented on DVN’s interest in the shale:
“Moving to the Cana-Woodford Shale in Western Oklahoma, we continue to add to our acreage position during the fourth quarter and now have approximately 243,000 net acres. Devon is currently operating 23 out of the 39 rigs running play-wide.”
Marathon Oil (NYSE: MRO): At a recent Credit Suisse conference, MRO noted its interest in the Anadarko Woodford Shale play, with 3 rigs operating currently and 8 planned by the end of 2011. The company also observed that returns there are among the highest of domestic resource plays, and while exiting 2010 at approximately 1,500 BOED, MRO estimates that, by 2015, it could reach a peak rate of 30,000 BOED. In the Company’s Q4 2010 conference call, Executive Vice President David Roberts noted that MRO plans to more than double its acreage in the area:
“Marathon also holds 86,000 acres in the Anadarko Woodford area, an area where we have operated for decades, and we have line in sight on new opportunity to increase that position to over 100,000 acres shortly. Importantly, we will have eight rigs in the play by 2011 by the end of this year.”
The Company is a goal-oriented exploration and production (E&P) Company aiming to become an intermediate level oil and gas producer within 12 months. The Company is in production at the Poston Project in Trego County Kansas with new drilling activity and production underway at the North Oklahoma Oil Project. With the achievable target of becoming a 1000 BOE producer as our goal, American Petro-Hunter is actively on the hunt for domestic petroleum assets. www.americanpetrohunter.com
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Disclaimer/ Disclosure: The following news is paid for and /or published as information only for our readers. American Petro-hunter Inc. (OTC:AAPH) is a showcase energy stock on Investorideas.com and all related energy portals and blogs ( averaging two thousand per month) Investorideas.com is a third party publisher of news and research .Our sites do not make recommendations, but offer information portals to research news, articles, stock lists and recent research. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investment involves risk and possible loss of principal .This site is currently compensated by featured companies, news submissions and online advertising.
The author, Patrick Murphy, was compensated $350 for writing this article by InvestorIdeas.com. Mr. Murphy does not own shares of any of the companies mentioned in this article. Mr. Murphy expects his research firm, Murphy Analytics, to be engaged for the provision of a research report on AAPH in March 2011. Woodford Shale Emerging as a Leading Domestic Oil and Gas Play
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