Fri, Aug 29, 2014, 8:11 PM EDT - U.S. Markets closed


% | $
Quotes you view appear here for quick access.


  • probability.based probability.based Jul 19, 2009 9:56 PM Flag

    Total Estimated Increase in Piceance Basin Resource Potential

    was 1.4 TCFE, can anyone tell me what happened to that? Please help.

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • Oil $97 /bbl !!! DPTR mkt cap $16m only!!back to $500m company..soon

    • Lot of good info from OLFNDR - let me try the Cliff's notes version

      1. Utah Hingeline is an area in SE Utah on trend with oil finds in Wyoming in similar geological setting.

      2. In Wyoming a whole series of small to medium oil discoveries were made along the trend (string of pearls).

      3. Utah hingeline area has been validated by finding at least two similar pools (covenant, provident) by others.

      4. DPTR has about 20 prospects for structures that might in the end deliver their own utah hingeline pearl (in general an oil pool with 50-100 million or more barrels of light oil).

      5. DPTR has drilled their first three choices among their hingeline prospects and has struck out (0 for 3). They have suspended drilling there, are looking for partners, need improved cash flow from other areas to risk the increase in capex it will take to start drilling gaain on the next few hingeline prospects. Liekly they want the new CEO in place as well to help map the strategic direction they will be going.

    • The ONLY way it can jump from 50 Mmbbl to 150 Mmbbl in the Probable (Proven is 9.5 Mmbbl) - is if the Oil mix in the Probable is at least 30%, not the 10% or less that has been the norm - AND accepting the Probable to be Proven and as claimed by Delta.

      This news must be a strongly held secret hush hush. That's the ONLY way to explain Delta's price and its strange daily price movements.

      Also, believing the 30% oil mix extends credibility.

    • I have my sources which are reliable, but even so, these numbers (or range of numbers) have been published in the past.

    • ((( Proven and Probable oil reserves have jumped from ~50 million barrels to over 150 million barrels )))

      Who gave you this Story, OR is this self-knowledge based on Deep Meditation, OR is this a Morning Dream ?

    • thevalveguyinvestor101 thevalveguyinvestor101 Jul 20, 2009 12:32 PM Flag

      wonder when we will get the law suit money from the govnt...the 120+ million will certainly enhance our ability to devellop acrage. Maybe they will add clarity during the Q2 CC.

      Perhaps we will devellop down stream operations ie pipeline business to support CRB production and generate tolling fees from other producers in area.

    • "Only the first Navajo (and possibly the Twin Creek) is productive."

      There are now 20 productive oil wells at the Covenant Field in Central Utah, and Wolverine's recent 3-D seismic survey indicates the Covenant Field is a larger structure closure than their current drilling indicates.

      The Jurassic Navajo Sandstone is repeated within a foot-wall cut-off and future offset wells will target this thrust fault repeated sandstone interval. This second Navajo Sandstone interval (Navajo #2) has also been proven to be productive.

      Proven and Probable oil reserves have jumped from ~50 million barrels to over 150 million barrels.

    • thevalveguyinvestor101 thevalveguyinvestor101 Jul 20, 2009 12:10 PM Flag

      Siro... more to add to the answer as to what is the hinge line

      The central Utah thrust belt, or “Hingeline,” has seen cycles of petroleum exploration for the past 50 years because explorationists viewed the geology as a natural extension of productive thrust belt-style structures in northern Utah and southwestern Wyoming. Early unsuccessful efforts tested anticlines identified from surface mapping and seismic reflection data. The lack of a Cretaceous source seemingly was to blame for these failures. The 2004 discovery of Covenant oil field proved that this region contains the right components (trap, reservoir, seal, source, and migration history) for large accumulations of oil. To date, 10 producing wells and one dry hole have been drilled from two surface pads. Covenant has produced over 3 million bbls of oil and no gas; the field averages 5500 BOPD from the Jurassic Navajo Sandstone. The OOIP is estimated at 100 million bbls; the estimated recovery factor is 40%.
      The Covenant trap is an elongate, symmetric, northeast-trending, fault-propagation anticline formed during the Sevier orogeny (Late Jurassic-Early Tertiary), with nearly 800 ft (240 m) of structural closure. The structure formed above a series of splay thrusts in a passive roof duplex along the “blind” Gunnison-Salina thrust and west of a frontal triangle zone within the Jurassic Arapien Shale. The Jurassic Twin Creek Limestone and Navajo Sandstone are repeated due to an east-dipping back thrust detachment within the structure. This back-thrust forms a hanging wall cutoff along the west flank and north-plunging nose of the fold. Only the first Navajo (and possibly the Twin Creek) is productive. The eolian Navajo Sandstone reservoir is effectively sealed by mudstone and evaporites in the overlying Jurassic Twin Creek Limestone and Arapien Shale. Oil analysis indicates a probable Mississippian source – oil derived and migrated from rocks within the Hingeline region.

    • thevalveguyinvestor101 thevalveguyinvestor101 Jul 20, 2009 12:07 PM Flag

      Remember we have 123k acres Utah hinge line answer

      """Thrust-belt promise
      “Overthrust plays, wherever they are in the world, have a string-of-pearls appearance,” says John Wallace, president and chief operating officer of Denver-based Delta Petroleum Corp., one of the prominent operators in the play. “Where oil migrated at the right time, structures along a leading-edge thrust fault can be full of oil.” The Canadian Overthrust belt has 50 fields that contain 10 billion barrels, and the Wyoming Overthrust has 20 fields that hold 2 billion barrels.

      “We think the central Utah Hingeline is analogous to the Canadian thrust play, and that we’re beginning to see evidence that there’s potential for multiple fields.” The age and location of source rocks and timing of migration and trapping appear similar between Canada’s and Utah’s slices of the thrust belt. “That’s why Utah is just opening up—earlier models all looked to Wyoming, which is quite different.”

      Delta holds 123,500 acres in Utah’s Hingeline with partners Denver-based Armstrong Oil & Gas and Whiting Petroleum Corp. The companies have prospects on 18 separate structures, stretching south from Covenant Field.
      “This is a new province. We’re talking about finding and development costs in the range of a couple dollars per barrel. These are conventional fields and they are as economic as any feature in the U.S.”

      To date, Delta has drilled two wells. The Joseph prospect, in Section 24-25s-4w, Sevier County, was 19 miles southwest of Covenant. Unexpectedly, it encountered a volcanic section above the Navajo that was full of inert gases.

      Its second test, #23-44 Parowan Federal, in Section 23-33s-10w, Iron County, was drilled some 84 miles southwest of Covenant Field. It confirmed the presence of a large structure and saw oil in Jurassic Twin Creek, a reservoir that’s productive in Wyoming Overthrust fields. “Parowan was wet in the Navajo, but we’re very excited about the uphole potential in Twin Creek.” Delta will test Parowan late this summer, after lease stipulations to protect nesting raptors conclude.

      Next up, Delta will drill its Beaver prospect, in Beaver County. The well will be in 30s-7w, and targets Jurassic Navajo. It is slated to spud mid-summer; well costs are projected at $4- to $5 million.

      “We believe that there are several more fields to be found in the central Utah Hingeline, and that’s been reinforced by the second discovery. With the drilling planned by us and others, we’ll soon know if this will be a major oil-producing province.”-------"""

    • I'm thinkin bout just selling and taking 20 per share profit,may go back to buy level.

    • View More Messages
0.050.00(0.00%)Aug 31 2:59 PMEDT

Trending Tickers

Trending Tickers features significant U.S. stocks showing the most dramatic increase in user interest in Yahoo Finance in the previous hour over historic norms. The list is limited to those equities which trade at least 100,000 shares on an average day and have a market cap of more than $300 million.