Title : Hope Springs Eternal -- XTO Proposes Unitizing A Large Area Of The Bakken -- September 28, 2018
link : Hope Springs Eternal -- XTO Proposes Unitizing A Large Area Of The Bakken -- September 28, 2018
Hope Springs Eternal -- XTO Proposes Unitizing A Large Area Of The Bakken -- September 28, 2018
Hofflund:
Grinnell:
Link here. Data points:
- XTO would like to unitize the Hofflund-Bakken and the -Grinnell Bakken oil fields as one large unitized unit
- Petrogulf Corp is one of the 150 working interest owners
- Petrogulf objected to unitizing the two fields as one unitized unit
- Petrogulf felt unitizing the two units as one unit would be "unfair" because geology is "so different"
- NDIC proposed separating the two units; but allow unitizing both -- separately
- NDIC also recommended changes to the royalty distribution formula that he said would make the plan more equitable (details not provided in the article)
- NDIC unanimous: the proposal goes forward but as two separate unitized fields: the Hofflund-Bakken unitized field; and the Grinnell-Bakken unitized field
- the proposal must now be approved by 55% of mineral owners
- QEP tried unitizing the Helis Grail field years ago; the proposal was defeated
- Helis Grail field is not unitized
- something tells me....
Thus Article Hope Springs Eternal -- XTO Proposes Unitizing A Large Area Of The Bakken -- September 28, 2018
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