MVW is also an important Bakken playerFrom Seeking Alpha - article by Michael Filloon - read and digest!
Mountainview Energy (MNVWF.PK) has 85,000 net acres in the Bakken/Three Forks of the WillistonBasin and Alberta Bakken. Its 11,000 net acres in the Williston Basin seem to bethe focal point of its business. Mountainview plans to spend $22 million on onevertical and four horizontal wells in 2011. Its Williston Basin acreage is inseveral counties:
- Divide, North Dakota
- Williams, North Dakota
- Sheridan County, Montana
Oil producers with well results near to Montainview's Montana Statelineproject are:
The best well of these operators was Brigham's Gobbs 17-8 #1H, which had anIP rate of 1818 Boe/d. Other operators have had IP rates from 200 to 1000 Bo/d.Newfield's (NFX) two Christensen wells innorthwestern Williams County produced IP rates of 217 and 562 Bo/d. The mostrecent well produced over 21 thousand barrels of oil in the first 67 days ofproduction. This area of the Bakken/Three Forks have had little by the way ofdevelopment. Continental (CLR) has de-risked a good portionof eastern Divide County towards the edge of the Bakken overpressured zone.
Mountainview is also a play on the Alberta Bakken. $2.3 million will be spentthis year on this acreage. It has 60000 net acres to the south of Rosetta (ROSE) and Newfield's acreage.This acreage has potential from multiple pay zones, which increases thepossibility of it being commercial.
The most important reason to be bullish Mountainview is its working interestwith G3 Operating. This is a subsidiary of GeoResources. Olsen 1-21-16H is itscurrent well, in which it has a 12.5% working interest. The agreementMountainview made with GeoResources in late July provided a platform forBakken/Three Forks growth.