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GMX Resources Inc. Message Board

  • joechentva joechentva Nov 12, 2012 11:53 AM Flag

    GMXR's 3-Fork is just at the tip of the iceberg

    GMXR 3-Fork = Tip of Iceberg

    The ND Bakken kitchen is mainly 30'-70' of Mid Bakken sandstone and dolomitic rocks, sealed by the very tight 10' thick upper Bakken shale and 30' thick tight lower Bakken shale. From northern McKenzie to Williams then east ward to Dunn and Mountrail counties.

    The ND 3-Fork kitchen is made of 50' thick units-5 & 6; 60' thick unit-4; 40' thick unit-3; 60' thick unit-2 and 40' thick unit-1. Within each unit the porous sandstone and dolomitic clastic rocks are sanwiched with tight shales, this makes good reservoirs for continuous plays.

    The GMXR McKenzie acres are within thickest 250' center of the 3-Fork kitchen. 1/3 of GMXR Billings acres are within the 225' thick region, while the remaining 2/3 billings acres are in the 200' thick region. The Stark cnty acres are in the 100'-150' thick region. The McKenzie and Billings leases
    are in the best ND 3-Fork kitchen.

    The three GMXR 3-Fork wells, Wock and Frank in Stark cnty and Evonuik in Billings, were not completed successfully. The newer quick but weaker sliding sleeve completion method seemed not effective on the 3-Fork formations. The nearby WLL 3-Fork wells have good IPs and production were completed by the old perf and plug method. Thus GMXR does not have any solid data for their 3-Fork well EUR calculations.

    The GMXR published ND Bakken well EUR (500,000 BOE/well) is just for mid Bakken, not including the very thick 3-Fork kitchen formations. Especially in McKenzie and Billings, 19K acres with 188 opt drill sites. WLL and CLR are begin to add 3-Fork on their ND Bakken/3-Fork wells EUR, just for ONE 3-Fork bench, the EUR increased by more than 20%.

    These multi-pay zones are right underneath the Bakken group, all it needs is more drilling rigs and test wells to reveal the EUR of each unit/bench. Blackstone/GSO know the richness of these leases, their $30M investment + 10M free (cheap) shares, and future drilling capital infusions, will bring them very handsome return within 2 years.

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