WLL and Triangle work. Whiting is a big user of Rockpile now. Caliber is located along the ND side of the Montana border where TPLM, WLL and KOG have extensive leases.
The services side of Triangle would make a very attractive add on to Whiting
Limit, that could also make Triangle a tempting morsel particularly when you throw in the gas processing side which is centered along the montana border right in the heart of Whiting, Kodiak and Triangle lands
G8, think Triangle, they have the completion crews and they have the gas gathering system to help fill out some big needs. Good partners come in many forms
Submitted 09/17/2012 Approved 09/25/2012 741454 471-30351 BLUESTONE NATURAL RESOURCES, LLC (076855) COLBURN 2 03 WALKER Vertical
I would assume we would still see that same update coming out any day now? Those 2nd quarter numbers should be much stronger than the 1st quarter
These well are not Vaca Muerta but more conventional pools being tapped with Horizontal wells.
SIERRAS BLANCAS HORIZONTALS EXCEEDING EXPECTATIONS
Very strong results on CAN-15(h) test and initial three
months of production from CAN.xr-2(h)
Oil sourced from the Vaca Muerta shale
CAN-15 recently placed on-stream
Multiple additional wells planned in 2014
Rig to commence drilling in Q2 on multi-well program
CAN-15(h) tested at rates up to ~1,943 Boe/d (72% oil)
and CAN.xr-2(h) averaged ~978 Boe/d (72% oil) over a
three month period. Solution gas was recently tied-in
(see April 29, 2014 press release)
Continental has had a good run, but now it is time to pass the Bakken/Three-Forks crown to the new king, Whiting Petroleum. This doesn't make Continental Resources any worse of an investment, but if it wants to regain the crown it will have to step its game up. Kodiak and Whiting shareholders seem to have gotten a good deal with this merger, as the new company will be able to use overlapping acreage to reduce costs while being able to leverage each others expertise to maximize the potential of each drilling location. As an added bonus, Whiting Petroleum announced that it will be able to grow its oil production faster now than if Whiting hadn't acquired Kodiak.
Below is from a Motley Fool article a couple days back
Considering the combination of Whiting Petroleum and Kodiak Oil and Gas aims to create a leading oil producer in the Bakken/Three Forks region with over 107,000 boe/d, the valuation proposition is easy with a quick comparison to Continental Resources that previously held that position.
During the first quarter, Continental produced 97,457 boe/d from the Bakken with 70% of production linked to oil. In total, the oil producer had production of 152,471 boe/d. The new Whiting produced roughly 134,000 boe/d during the first quarter. So while the claims and focus are around it being the leading producer in the Bakken, the true value of the companies is based on total production. Continental has the SCOOP properties that produce over 50,000 boe/d while Whiting is making huge progress in the Niobrara region.
In total, the production at Continental during the first quarter matched the forecasted average production for the year for the combined Whiting Petroleum, but the new entity isn't too far behind. What is far behind is the market valuations. Continental Resources has a market value of $28 billion and an enterprise value of nearly $33 billion compared to the corresponding valuations of roughly $14 billion and $18 billion.
By purchasing Kodiak Oil and Gas at current market values, Whiting Petroleum created a leading producer in the Bakken to rival Continental Resources. More importantly, the oil exploration firm from Denver just created a company approaching the size of Continental in production, but not in valuation. The combination of the low leverage from Whiting and the fast growth from Kodiak makes an intriguing investment, especially compared to the rich valuation of Continental now trading at nearly double the valuation."
Nobody seems to be comparing the new WLL with Continental. You should take a very close look. Two companies are now comparable in size but CLR Market cap is almost double. The new Whiting though may have better land. Room for Whiting to double up quickly
Kog bear, I will be voting my considerable shares yes. This is a well done merger with huge upside for the new combined company
Thanks Symon. I am buying more tplm and your Red River comments only re-enforce that call. Will hold all of my KOG as the sum in this case is greater than the parts