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Northern Oil and Gas Inc V.NOG


Primary Symbol: NOG

Northern Oil and Gas, Inc. is a real asset company that focuses on acquiring and investing in non-operated minority working and mineral interests in the hydrocarbon producing basins within the contiguous United States. Its business is crude oil and natural gas exploration, development, and production with operations in the United States. Its 300,000-acre portfolio is distributed across the Williston, Permian and Appalachia Basins. Its portfolio comprises 300,000 acres of low-breakeven land with over 10,000 wells. Diversified by basin and across commodity type, its wells are operated by over 100 public and private operators. It engages in oil and natural gas exploration and production by participating on a proportionate basis alongside third-party interests in wells drilled and completed in spacing units that include its acreage. It acquires wellbore-only working interests in wells. It owns the Utica and Northern Delaware Basin assets. It also owns Point Assets in the Delaware Basin.


NYSE:NOG - Post by User

Bullboard Posts
Comment by wiseguy113on Mar 02, 2011 11:30am
298 Views
Post# 18218998

RE: So...?

RE: So...?    I disagree, I would've placed the word "can" in bold. Since a salt cap is a type of porous rock, it takes oil contact combined with time as well as, either a void of pressure or vacuum pressure in order for a collapse to occur. Since oil is heavier than gas, the oil should not come in contact  with the salt cap unless they drilled into a lower portion of the trapped oil and missed the area of gas trapped somewhere in a nearby, higher elevation trap. This also would explain why they found so much trace benzene w/o the gas. 
    My opinion, for what it's worth, is that they likely hit a lower elevation plateau that is in a collapsed pocket of a substainally larger pool with a high pressure gas ceiling. This would explain the bubbly oil as they broke through as the larger pool was expanding and pushing the collapsed pocket. All they need do is break the pocket wall for the oil, or move over a little and get both the gas and the oil....
    
    I apologize for rambling, but thank my gr. 11 geography teacher Lol!!
Bullboard Posts