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Bullboard - Stock Discussion Forum Bridge Resources Corp V.BUK

TSXV:BUK - Post Discussion

Bridge Resources Corp > Fraccing and spacing approved!!
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Post by Bob_Brant on Apr 19, 2011 4:47pm

Fraccing and spacing approved!!

Tuesday, April 19, 2011

Oil and Gas Commission Approves Temporary Fracking Rules

Posted by George Prentice on Tue, Apr 19, 2011 at 11:02 AM

Idaho's Oil and Gas Conservation Commission held its second meeting in two months this morning. It was also the second meeting in 18 years. An ever-increasing interest in natural gas exploration in Idaho was the impetus for the standing-room-only session.

The commission, comprised of Idaho's five statewide elected officers, focused on the operations of Bridge Resources, which has been drilling for natural gas in Payette County. Bridge has thus far drilled 11 wells in the New Plymouth area; four have been dry, three have been successful, and Bridge has plans for the remaining three.

Bridge wants to conduct what it calls "mini-fracking," a process of shooting high-pressured liquids and sand down its wells to enhance gas flows. But Idaho has had little to no rules on well treatments, let alone hydraulic fracturing. That is, until this morning.

The commission voted unanimously to adopt temporary rules for the processes, using Wyoming's regulations as a base model. The Idaho Department of Lands is expected to refine the rules in the coming months.

"We acknowledge that these rules need updating," said Eric Wilson, Minerals Program manager for the Department of Lands. "This summer, we'll be going through quite a bit of new rule-making and negotiating."

Wilson told Citydesk that his agency will be working directly with and getting comments from the Idaho Department of Water Resources, the Department of Environmental Quality, and local entities in New Plymouth and Payette County.

Meanwhile, Bridge is planning a busy summer in the wake of this morning's vote. In addition to its plans for mini-fracking four wells, it hopes to drill as many as 60 new wells in Idaho as the company gets closer to putting its gas discoveries into production.

The commission also approved Bridge's request to drill more in less space. Idaho code had restricted one drill per 640 acres, but by unanimous vote, the commission agreed to allow one drill per 160 acres, or approximately one drill for ever four square miles.

Comment by impega on Apr 29, 2011 10:14am
So is it safe to say the Idaho project is back on track.?Once the pipeline is complete it will be easy to hook up new wells. With fraccing now allowed and downspacing this could become a cash cow later in the year. The beauty is they are early in this play and have a lot of land locked up. Might be a good time to buy some cheap shares before the action heats up again.
Comment by Gasman16 on Apr 29, 2011 4:11pm
Patience on this one until the pipeline gets completed and production can commence.  I thought the stock would move a bit after fracing was permitted (temporarily) and spacing adjusted but hasn't done so yet.  My comfort is in BUK using Bitter Creek Pipeline, LLC, a subsidiary of MDU Resources Group.  I am familiar with MDU - solid company so feel confident the ...more  
Comment by All(in)Idaho on May 03, 2011 7:49pm
This post has been removed in accordance with Community Policy
Comment by Gasman16 on May 03, 2011 9:32pm
This is the most recent posting I found that indicates hook-up is expected in the second half of 2011.  I haven't heard any updates for this....I agree an updated timeline would be nice.  Also would be nice to know if a frac crew has been contracted and what that timing will be.  Bridge Resources announces progress on gas planby Brad CarlsonPublished: March 22,2011 Time ...more  
Comment by Bigbadoil on May 05, 2011 3:25pm
The long time line is due to the connection into the Williams pipeline. This is a federally regulated pipeline( thorough FERC).The regs state up to 9 months so that is longest possible time allowed under the regs. Its most likely will be much shorter than this but BUK are being conservative with their timing.Bigbadun'
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