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Bakken Update’s 2014 Bakken Stock Picks: The Bakken Operators

By Michael Filloon: In Part 1, I covered Bakken differentials and how it could be a good year for refiners using it as a feedstock. We recently saw Bakken/WTI differentials widen from $ 4/bbl to $ 11/bbl. Most are reporting estimates of $ 11 to $ 13/bbl in 2014. These differentials will cut into operator […]

The Bakken Update’s 2014 Stock Picks: Rex Energy

By Michael Filloon: It hasn’t been long since my last update on Rex Energy (NASDAQ:REXX). I believed the Q3 miss was a buying opportunity. It’s recent pullback was due to concerns on pricing in the Marcellus. This was the main reason for its Q3 miss. We expect these small cap producers to have lumpy production […]

Bakken Update’s 2014 Stock Picks: The Permian Operators

By Michael Filloon: 2014 looks to be a good year for oil and gas in the United States. There are worries too much crude will be produced, pushing prices lower. In response, we will continue to see pipelines added and rail facilities built. The start up of the southern leg of the Keystone should help. […]

Bakken Update’s 2014 Stock Picks: Fraccing Fluid Producers

By Michael Filloon: My call on Flotek (NYSE:FTK) back in August could turn out to be a big winner in 2014. I have been positive the name since March of 2011, when the stock traded for just $ 6/share. It is a great story that involves a business mostly controlled by large oil service companies […]

The Bakken Update’s 2014 Stock Picks: Small Operator’s Well Design Outperforms In North Dakota

By Michael Filloon: Investing in small cap oil and gas isn’t for everyone. Understanding the oil business is difficult enough, but unconventional production is a different business. Valuation is tricky for several reasons. Acreage is the most important. Valuing leaseholds can be difficult, as multiple operators can get a wide range of results. Poor well […]

Matador’s Recent Streak Should Continue

By Michael Filloon: Matador (NYSE:MTDR) was one of the better plays of 2013. It has continued to baffle analysts, beating estimates for four straight quarters. It may be the best way to play the Eagle Ford through a small cap operator, as it is beginning to ramp production up. Management has done an excellent job, […]

The Bakken Update: U.S. Oil Production Is The Reason For The Tank Railcar Renaissance

By Michael Filloon: American Railcar (NASDAQ:ARII) has had a nice run since my call back in July. This move culminated in an excellent quarter, not just for American, but also Trinity (NYSE:TRN). Trinity beat both the top and bottom lines. Its EPS of $ 1.43 was $ .02 better than analyst estimates, and revenues were […]

Bakken Update: Frac Sand Pricing Could Go Parabolic In Q3 2014

By Michael Filloon: Demand continues for frac sand in the United States. In 2013, significant supply hit the market. This decreased average pricing. Current expectations are for a pricing rebound, as demand is increasing. Although we are seeing an overall decrease in the number of rigs drilling in the U.S., frac sand intensity continues to […]

Bakken Update: 2014 Oil And Gas Stock Pick Is Up 21% Since The First Of The Year

By Michael Filloon: Bonanza Creek (NYSE:BCEI) is one of my 2014 stock picks. I made this call on January 1st and since is up 21%. Initially, I thought the stock had 30% upside, but it looks like it may be heading higher. One reason I favor Bonanza is its core acreage is in the DJ […]

Bakken Update: Small Cap Bakken Operator Is Up 30% Since My Call, Has 30% To Go

By Michael Filloon: Abraxas (NASDAQ:AXAS) continues to prove a small cap oil producer can grow market cap quickly based on quality well design. Back in August, I stated that Abraxas was turning the corner. This was based on the premise it would transition to an operator. It is up 30% since that call on August […]

Bakken Update: Emerald Oil Continues To Focus On Production, But Costs Are A Killer

By Michael Filloon: Emerald Oil (NYSEMKT:EOX) has been transitioning from a non-operator to an operator. Although this is no easy feat, it has done it quickly and efficiently. It sold $ 113 million worth of non-operated properties and used this to purchase operated leaseholds. (click to enlarge) (Source: Emerald) Emerald’s 4Q13 was difficult, as it […]

Bakken Update: Recent Kodiak Completions Model 1000+ MBoe

By Michael Filloon: Kodiak (NYSE:KOG) is one of the more interesting names in the Bakken, which has built a large number of locations; these are in some of the best areas of North Dakota. This has come at a stiff price, as Kodiak continues to outbid other operators, in hopes that Bakken real estate increases […]

Bakken Update: Triangle Petroleum May Have 43% Upside In 2014

By Michael Filloon: Triangle Petroleum (NYSEMKT:TPLM) continues to be one of our favorites for 2014. There are several reasons, but its integrated model is the most intriguing. Triangle provides all of the advantages to investment in a small cap, but also provides benefits from its integrated model. As a small cap it provides significant growth […]

BakkenUpdate: Rex Energy Blows By Q1 Analyst Estimates On Its Way To $30/Share

By Michael Filloon: The strength in crude pricing and weakness in natural gas has created a focus on oil based plays. The Bakken, Eagle Ford, and Permian have some of the best small cap operators in the United States. Many of these trade at high valuations and provide more risk in a market downturn. There […]

Bakken Update: Bonanza Creek Is Up Over 20%, More Potential Ahead

By Michael Filloon: Bonanza Creek (NYSE:BCEI) may be the best way to play the Niobrara. It had value into earnings, after notifying its CEO was retiring. This wasn’t good news, but it didn’t justify the pullback. There are several reasons to like Bonanza, but it became much more appealing after quarterly miss. This worsened during […]

Bakken Update: Merger Creates Bakken And Eagle Ford-Focused Small Cap

By Michael Filloon: I personally recommended buying Earthstone (NYSEMKT:ESTE) back in August of last year. There were several reasons, as this Bakken non-operator had made some good changes. It had placed dollars in several areas in North Dakota and Montana. After seeing the results, it decided to focus on Banks Field. This area has excellent […]

Bakken Update: Permian Pure Play Athlon Has Howard County Upside

By Michael Filloon: Back in October of last year, I published an article on Seeking Alpha that spoke highly of Athlon (NYSE:ATHL). This has turned out to be a good call, as the stock is up 28% since. There are several very good ways to play the Wolfcamp and all have appreciated significantly over the […]

Bakken Update: Matador’s New Frac Design Heads To The Permian

By Michael Filloon: At Split Rock, we try to diversify our dollars across different U.S. basins. By doing this, we gain exposure to the best areas and operators in differing locales. Diversification is important, as it limits our downside, which is important in a volatile sector. The Eagle Ford is difficult, as the bulk of […]

Bakken Update: Carrizo Continues To Outpace In The Eagle Ford And Ready To Sell In The Niobrara

By Michael Filloon: Carrizo (NASDAQ:CRZO) has performed very well since my first recommendation. Much of this run has been recent, as Carrizo has executed well. It has beaten EPS estimates for four straight quarters, and is one of our favorite names. Its acreage in the Eagle Ford is very good, and its leasehold in the […]

Bakken Update: Basic Energy Continues To Excel, Levered To Fraccing

By Michael Filloon: In just a few short years, unconventional oil production in the United States has almost replaced imports. This has been great for the economy, and better for small cap oil and gas. We continue to cover a large number of producers like Athlon (NYSE:ATHL), Matador (NYSE:MTDR) and Bonanza Creek (NYSE:BCEI). The E&Ps […]