Location: The Horn River Basin is in far northeast British Columbia, Canada.
Quicksilver Resources (KWK) and others have been drilling in the Horn River Basin for natural gas in Shales. Now Quicksilver says it will test a shallower zone, the Bakken shale for oil. The Bakken lies 4,000 feet below the surface and an 80-foot section of core shows mature, mobile oil.
In 2010, Quicksilver plans to reenter an old well and drill a horizontal section to test the Bakken for oil. Quicksilver holds 130,000 acres in one block. Other nearby block acreage holders are EOG 140,000 acres, Devon 153,000 acres, Apache 207,000 acres, Nexen 123,000 acres, Columbia, and EnCana.
This is very early in exploration cycle and this acreage must be considered highly speculative for the Bakken, even though some of it is already proven for natural gas from a deeper shale.
The possibility of finding vast reserves of Bakken oil in the 12,000 miles northwest of North Dakota’s Williston Basin bodes well for U.S. oil supplies, but not for U.S. balance of payments.
Recommendation: None
Quicksilver Resources (KWK) and others have been drilling in the Horn River Basin for natural gas in Shales. Now Quicksilver says it will test a shallower zone, the Bakken shale for oil. The Bakken lies 4,000 feet below the surface and an 80-foot section of core shows mature, mobile oil.
In 2010, Quicksilver plans to reenter an old well and drill a horizontal section to test the Bakken for oil. Quicksilver holds 130,000 acres in one block. Other nearby block acreage holders are EOG 140,000 acres, Devon 153,000 acres, Apache 207,000 acres, Nexen 123,000 acres, Columbia, and EnCana.
This is very early in exploration cycle and this acreage must be considered highly speculative for the Bakken, even though some of it is already proven for natural gas from a deeper shale.
The possibility of finding vast reserves of Bakken oil in the 12,000 miles northwest of North Dakota’s Williston Basin bodes well for U.S. oil supplies, but not for U.S. balance of payments.
Recommendation: None
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