DeeThree Exploraion – Bakken Shale Production Update

Map of Williston Basin oil fields with reservo...

Map of Williston Basin oil fields with reservoirs in Bakken Formation (Photo credit: Wikipedia)

DEETHREE EXPLORATION (T-DTX) $4.07 +0.14

 

The Greek crisis has been going on now for over two years and I suspect most North Americans have heard just about enough of them – but the crisis will go on for years.

The concern is that they seem no closer to fixing their problems and the collapse of the resource sector in the last six to eight weeks has been truly historic. So when do they get it all fixed is the question and in the meantime, how low does oil go and where is the bottom?

One name to put on the watch list in case one thinks we have a future for oil, is

 

 

Dee Three just out Wednesday  on their Bakken drilling. Their number three and four wells on a seeming sweet spot resulted in initial production rates of 940 barrels a day for well #3 and 960 barrels a day for well #4. Production on the two wells are still comfortably above 600 barrels a day each, which makes a big difference for a company doing 3000 barrels a day.

They expect two additional Bakken wells to be tested this quarter.

 

Nice to see some good news in a bad market

 

 

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