"Therefore, in my opinion, the safest play for those betting on Lost East
Hills project is either Westminster or Berkley. I believe that Westminster
will have a better upside. Look for minimum $15/share takeover if
Lost East Hills comes through.
PS.. maybe someone should start up a thread for WML
Best of Luck
Poseidonas"
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Hi Poseidonas,
why don't you. And just in case you've any doubts about drilling a virgin territory, fancy this:
Kern oil fields listed in top 10 producers, estimated reserves
Filed: February 3, 1999
Three Kern County oil fields held on to ratings in the top 10 of the nation's producing fields last year, and four once again began the new year in the top 10 in estimated remaining reserves, according to the Oil & Gas Journal.
In its annual Forecast and Review issue, the Tulsa weekly ranked Midway-Sunset, Kern River and South Belridge as the top three producing fields in Lower 48 states.
Top 10 fields and 1998 production were Prudhoe Bay, Alaska, 221.9 million barrels; Kuparuk River, Alaska, 95.9 million barrels; Midway-Sunset, 59.9 million barrels; Kern River, 48.7 million barrels; Point McIntyre, Alaska, 48.4 million barrels; South Belridge, 43.3 million barrels; Mississippi Canyon Block 807, Louisiana, 40.6 million barrels; Wasson, Texas, 27.8 million barrels; Garden Banks Block 426, Louisiana, 24.5 million barrels; and Spraberry Trend, Texas, 23.3 million barrels.
Runners-up were Milne Point, Alaska, 20.5 million barrels; Wilmington, 19.9 million barrels; Yates, Texas, 19.5 million barrels; Elk Hills, 18.64 million barrels; Ewing Bank Block 873, Louisiana, 18.57 million barrels; Endicott, Alaska, 17.7 million barrels; and East Texas, 16.9 million barrels.
Top 10 in estimated remaining reserves were Prudhoe Bay, 3.27 billion barrels; Kuparuk River, 1.02 billion barrels; Yates, 578.7 million barrels; Kern River, 410.1 million barrels; Point McIntyre, 299 million barrels; Midway-Sunset, 272.8 million barrels; Wilmington, 270.8 million barrels; Elk Hills, 270.0 million barrels; South Belridge, 229.1 million barrels; and Endicott, 205.0 million barrels.
Runners-up were Milne Point, 202.5 million barrels; Point Arguello, Calif., 150.8 million barrels; Beta, Calif., 137.5 million barrels; Viosca Knoll Block 956, Louisiana, 123.1 million barrels; and Ewing Bank Block 873, 110.5 million barrels.
Kern County is the site of 17 of the nation's 280 fields that have produced 100 million barrels or more of oil qualifying in oil terminology as giant fields.
Only 25 more fields are believed to have the capability to eventually qualify. Five of the 25 are in California, including offshore Beta, Pescado and Point Pedernales fields and onshore Round Mountain in Kern County and Yorba Linda in Orange County. Round Mountain has produced 98,915 million barrels of oil and has estimated reserves of 1,828 million barrels. The other 20 fields expected to eventually qualify are in Louisiana, 15; Texas, 2; Wyoming, 2; and Montana, 1.
The 17 Kern fields that have qualified as giants with cumulative production and, in parentheses, estimated reserves in barrels are Midway-Sunset, 2.42 billion (272.8 million); Kern River, 1.67 billion (410.1 million); South Belridge, 1.15 billion (229.1 million); Elk Hills, 1.14 billion (270.0 million); Buena Vista, 660.4 million (17.4 million); Cymric, 310.0 million (61.6 million); Mount Poso, 292.6 million (29.4 million); McKittrick, 283.6 million (15.2 million); Lost Hills, 277.9 million (72.5 million); Kern Front, 195.5 million (21.5 million); North Coles Levee, 163.4 million (1.4 million); Edison, 142.7 million (3.7 million); Fruitvale, 120.6 million (5.4 million); Rio Bravo, 116.6 million (309 thousand); Greeley, 114.5 million (2.3 million); North Belridge, 108.2 million (8.3 million); and Yowlumne, 107.1 million (10.0 million).
Kern's giants have produced approximately 9.20 billion barrels of oil and have approximately 1.43 billion barrels of reserves left, representing approximately 13.45 percent of recoverable oil originally in place.
Oil & Gas Journal figures are based on estimates from operators, IHS Energy Group, state geological survey and oil and gas agency data.
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