Black Ridge Oil & Gas, Inc. (OTCQB: ANFC) is a growth-oriented exploration and production company targeting the Bakken and Three Forks trend in western North Dakota and eastern Montana. The Company currently controls over 10,000 net Bakken and/or Three Forks acres. Black Ridge Oil & Gas is aggressively increasing its acreage position. SNNLive spoke with Ken DeCubellis, CEO of Black Ridge Oil & Gas, Inc. at the SeeTheEquity MicroCap Investor Conference 2014 in New York City, NY.
Mr. DeCubellis begins with an overview of the company, “We’re a very high growth, non-operating oil exploration and production company primarily focused in the prolific oil play – the Bakken, North Dakota. We just announced our quarterly results for the third quarter this morning, we set another production record and as exciting as that is, we gave guidance for the fourth quarter where we’re gonna come in at around 950 to 1100 barrels a day of production on average for the quarter.”
He then goes into benefits of being positioned in the Bakken, “The Bakken really took a step forward here in about 2007 when the operators figured out how to hydraulically frack and combine horizontal drilling in the upstream process and since then production has been growing at an incredible clip, there’s a lot of investment cap-ex going into the play. Right now the Bakken from a production standpoint is pretty close to some opaque nations. We’re producing over a million barrels out of the basin today and there are parts of the basin that are still getting very nice returns even at today’s low oil prices.”
Mr. DeCubellis concludes giving insights on what to expect in 2015, “2015 is gonna be driven by a very large project that we’ve just begun drilling. We’re participating with Burlington, they’re called the Tetons, we talk about those in our press release and in our powerpoint presentation. Those are 22 gross wells, we own 6.25% working interest, those will start up around the middle of 2015. When that occurs, our production will have another significant uptick ok, we’re not quoting volumes but when you look back at how we’ve performed this year, we’ve doubled or more on a year over year basis and we’d like to continue doing that through 2015 driven by these Teton projects.” For more information, check out their website: www.BlackRidgeOil.com
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