Quicksilver Resources Inc. (KWK) held a conference call on March 1, 2010, to discuss the company’s fourth quarter of 2009 earnings report and provided detail on some emerging oil plays that the company is working on. One of these is in the Southern Alberta Bakken Shale in Montana.
“On the oil side, we are working on a couple of projects that look very interesting and could have significant impacts on the company. The first is what is referred to as the Southern Alberta Bakken play where several companies have drilled projects – have drilling projects underway.”
“Quicksilver has an acreage position of over 130,000 net acres held by shallow Cut Bank sand oil production in Glacier and Toole counties in Northwestern Montana.”
“We will be monitoring results from wells offsetting our block as close as a mile away and at the same time, implementing a plan to drill a couple of horizontal wells to test the Bakken and other formations on our block. We have excellent well control to map the Bakken in this area. What could be significant to the economics is the shallow depth that will hit the Bakken between 3,000 and 4,000 feet.”
“These leases are held by production in large units and we actually have a bigger area in what is termed the wells agreement beyond this 130,000 acres that we have the oil rights and Montana Power has the gas rights”
Source: Seeking Alpha