Exploration & Production | Deals - Acquisition, Mergers, Divestitures
Arsenal Energy Acquires Cardium Acreage, Update Bakken Ops
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Outlook
Arsenal currently has an interest in 9 gross (1.1 net) North Dakota Bakken wells in various stages of drilling or completing operations. It is anticipated that most of these wells will be on production by yearend. With those wells on production, Arsenal should exit the year at approximately 4,000 boe/d. At Princess, Arsenal has contracted a rig for a four well program starting in early December. Production volumes from the Princess wells should come on line starting at the end of January.
Oil price differentials have swung widely through 2012. Pipeline grid bottlenecks in Western Canada and North Dakota have been somewhat alleviated by growing rail transportation. Bakken differentials to WTI have narrowed from $25/bbl at their peak in May down to $2/bbl in October. In the short…
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