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Gold/Mining/Energy : Big Dog's Boom Boom Room
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To: Dennis Roth who wrote (178592)11/17/2013 5:52:26 AM
From: Dennis Roth2 Recommendations

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evestor
RevoltNapper6

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Cline Shale: Another Home Run For U.S. Shale Oil?
Nov 14 2013, 10:54
seekingalpha.com

...Conclusions

The Cline Shale is a small subset of development opportunities offered by the Permian. (In fact, one of the reasons the Cline play has gained strong momentum, Cline wells provide the advantage of holding by production the entire mineral stack above it as well as helps to map out with a great degree of precision all target intervals above it).

Early results in the Cline are truly impressive (so are results in the more actively drilled Wolfcamp interval). There is very little doubt already at this point that both the Wolfcamp and the Cline will become large-scale, highly economic plays and significant contributors to the U.S. unconventional oil production.

Pioneer's wells establish that the Cline is most likely highly prolific all the way across the basin and effectively de-risk an enormous area with dimensions of approximately 80 miles by 40 miles. Recent SM Energy's (SM) Dorcus well results and discussion show that the play likely works even further west, almost all the way to the edge of the Midland Platform.

Pioneer and Apache are among the greatest beneficiaries of the delineation due to the two companies' massive acreage holdings in the basin. No surprise, Pioneer's stock moved 7% higher upon the issuance of its recent well results yesterday.

If one could extrapolate play evolutions in the Bakken and Eagle Ford, it would be only logical to expect that the Permian will follow on the same trajectory as the other two basins, just with a steeper learning curve, and will ramp up much quicker than skeptics may currently believe. Provided of course that oil price remains at its current $90-$100 per barrel level (something that can never be taken for granted).
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