Although most exploration and production companies that are developing the Bakken Shale are focused on acreage in North Dakota, the Bakken Shale also extends into Montana and Canada. Rosetta Resources (ROSE) is an exploration and production with an early stage position in the Bakken Shale in Montana.
The company has 231,000 net acres in the Northwestern part of the state, located mostly on the Blackfeet Indian Reservation.
The acreage appears to be located in Glacier, Toole and Pondera Counties. Rosetta Resources estimates that the acreage holds 723 possible drilling locations, and 60-300 million barrels oil equivalent of net resources.
The interesting part about Rosetta Resources acreage is that it is far west of all the development activity in North Dakota. It is also outside the six assessment units that the U.S. Geological Survey (USGS) designated when it conducted the assessment of the Bakken Formation, Williston Basin Province in 2008. Rosetta Resources acreage lies in the Alberta Basin, and its potential for the Bakken Shale is unknown currently. The company plans two wells to test its acreage in the summer of 2009. ___________________________________________________________________
Do you use technical analysis to find the proper entry point before you buy a stock? Click Here for a free Trend Analysis.