(From the desk of Troy W. Eckard)
I said there would be major consolidations that take place in the Williston Basin Bakken Trend. The majors, and a few new comers, are seeking to gather smaller interest holdings, increase positions in specific footholds and to allow for a greater deployment of capital through aggregation. These Bakken players are seasoned, know what they know and what has worked. This latest announcement shows that Oasis and whiting both have resources in the Bakken trend and are swapping to do exactly as I have described above.
WHY DO WE CARE!
Both players are very good and very successful operators but an aggregation and consolidation positioning allows for new participants (Eckard Global and its working interest partners) to grab smaller leases and interest in the areas and thus opens the door for Eckard and our Partners. It also is expected that we should see better wells from both companies as they stay focused, hockey stick up the learning curve in their core areas and we benefit from this.
Have a great week!
Troy W. Eckard