• LDV Oil and Gas Consultants provides professional oil marketing services as well constant updates on market news and directions. Lee can locate the best regional markets for getting top dollar for producers oil/condensates.

    - Charlie Rippy, Partner at Rippy Interests, LLC
  • My company retained LDV Oil and Gas Consulting in August of 2013. Within an hour of signing the consulting agreement Lee sent me contact info to Oil and Gas Executives. We are in the process of closing our first deal. 

    I am very thankful and grateful to have met Lee. If you want positive results make Lee part of your team. 

    Thanks Lee!!!!! 

    - Givo Younani , Lucky Cousins Trucking Inc., Houston, TX
  • Great Results, Expert, High Integrity

    “Lee Vendig handles the marketing of all crude oil production operated by Bridwell Oil Company. Lee has provided outstanding service in obtaining the best possible pricing for all geographical areas in which Bridwell has operations. Lee has great instincts regarding market volatility, and does a great job keeping our crude under the best possible terms.”

    - Steve Ginnings, BRIDWELL OIL COMPANY, Wichita Falls, TX
  • “Lee and his Company, LDV Oil & Gas Consultants, has been a tremendous asset producing the results we were looking for, higher crude prices. You want Lee on your side of the negotiating table the next time you negotiate a crude contract.”

    - Kevin K. Leonard, Tumbleweed Exploration, LLC Midland, TX
  • “Lee Vendig is our consultant and chief negotiator who negotiated the best pricing on our crude in East Texas Oil Field. As a result, Dyersdale Energy LP was the highest paid operator for its crude compared to any other operator in East Texas oil field including Danmark, SND now Quantum or Zone.”

    - Milan Simic, DYERSDALE ENERGY LP, Houston, TX

    “After working with Lee Vendig for a few months, I can recommend him highly as a consultant. He knows the oil market, stays up-to-date with it and is good at explaining pricing options to his clients. He responds quickly to phone calls and is helpful in giving his clients appropriate language for them to use in negotiating with buyers. His monthly commentary on the current state of the world oil market is useful; he pulls together information from several varied sources. It would take the busy operator many hours to research and accumulate the same information. Lee is pleasant to work with and he also has a good sense of humor! In addition to his helping you to get the best price for your oil, I believe you will find him enjoyable to work with.”

    - Janet Miller, JSM Natural Resources, LLC Victoria, TX
  • “Lee produces exception results. He secured contracts for us that make us more money every month. That's that bottom line.... if you use LDV Oil & Gas Consultants you will make more money.”

    - Kimball Hodges, Rockies Standard Oil Company Orem, UT
  • “I wanted to take a moment to thank you for the recent advisories you have sent on various subjects related to the oil market and pricing. These summaries are useful to me in understanding the market and being able to make rational decisions on our oil sales. You have kept Carr Resources, Inc. at the top of the price paid for oil in all areas where you market our oil. I have recommended your services to many companies and hope that they will all avail themselves of your marketing strength. I had wondered years ago why no one was making a cooperative out of all the small operators to have more leverage in the market. Your position in accomplishing this is not only profitable the relationship is enjoyable.”

    - John P. Carr, Carr Resources, Inc. Tyler, TX
  • Assets: Great Results, Expert, Good Value

    "Lee is spot on in his market evaluations and contract negotiation skills. Lee is personable and easy to understand. His fees are very reasonable, especially for the results achieved. We continue to do business with Lee because of his unstoppable dedication to monitoring and interpreting world and national events that affect oil and gas prices and to making sure that we always have the latest information before we act on a new contract. We simply will not act without first seeking his advice on a contract. I would highly recommend Lee Vendig to any company, large or small. He is indeed a true professional and knows his stuff. The Survey asked me to \"Choose THREE attributes that best describe this service provider\" and I chose all of them. Unfortunately, they wouldn\'t publish it until I culled it down to three. But in reality, Lee Vendig exhibits all of the qualities listed, Great Results, Personable, Expert, Good Value, On Time, High Integrity, and he is Creative."

    - Kenan Lott, PARTEN OPERATING INC. Houston, TX
  • Assets: Great Results, Personable, High Integrity

    "Lee works directly with his clients providing information and details needed to provide best contracts with oil and gas purchasers. He has always been honest and fair on all his dealings with our company. I recommend him for companies without the expertise needed to know what the current market offers in dealing with Oil purchasers."

  • Assets: Great Results, Expert, Good Value

    "Increased our price received ten-fold."

  • Assets: Personable, Expert, High Integrity

    "Lee, hard to say all the good things about Lee, If you hire him you will not be disappointed. Integrity, results, and good guy. He will make you money."

    - Mike Hodgden, Hodgden Oil & Gas Company Enid, OK
  • Assets: Great Results, Expert, Good Value

    "Lee has handled the crude oil marketing for my company since 2011. He has done a very good job of maximizing our revenue to the fullest."

  • Assets: Expert, Good Value, On Time

    "My company hired Lee Vendig as a consultant to help maximize the oil price received at our leases from various oil purchasers. We have been very satisfied with the results obtained."

  • Assets: Great Results, Good Value, Creative

    "I have worked with Lee on a couple of projects and his analysis and timing were very beneficial for our company. His recommendations literally increase our cash flow in the six figure range. The cost to do business with his company on a monthly basis is so minimum to the bottom line that I didn't hesitate to continue this relationship in other ventures. His relationships with the first level purchasers and his knowledge of their markets really shortened my decision tree and gave me a comfort level when negotiating for our company's marketing needs. If you need that extra comfort level before making your marketing decisions please give Lee a call."

  • Assets: Great Results, Expert, High Integrity

    "I have been working with Lee for over 5 years to market my crude oil. He has done a fantastic job beating the market over and over. I can't imagine ever using someone else. Lee is a true professional."



LDV Oil and Gas Consultants Provides Services to the Bakken shale oil play in the Williston Basin

The Bakken shale oil play is located within the Williston Basin in Montana and North Dakota. While the shale extends into the Canadian provinces of Manitoba and Saskatchewan, only the United States portion is considered in this evaluation.  This oil field could contain 3.65 billion barrels, which would be the largest finding in U.S history. 

Based on the leaseholders combined net acreage for Bakken, the area is approximately 6,522 square miles in the United States.  The shale oil play has an average EUR of 550 MBO per well and approximately 3.59 Bbl of technically recoverable oil.   The Bakken shale ranges from 4,500 to 7,500 feet deep with a mean of 6,000 feet and an average thickness of 22 feet. According to Kodiak Oil and Gas Corporation and other companies, the well spacing ranges from 320 to 1,280 acres per well with a mean of 640 acres per well (1 well per square mile).

Other average properties were estimated for the Bakken shale play.  These include the depth (6,000 ft.), thickness (22 ft), porosity (8%) and initial oil saturation (68%) for the shale.

There are over a dozen companies with leases within the Bakken oil shale play, these companies have leased a combined total of 4,174,625 acres (6,522 sq. miles). There are extensive activities within the Bakken shale play. Nearly all of the reported leaseholders have given information about their 2010 development plans.

Companies are running at least 45 rigs in 2010 and have indicated that number will increase to more than 54.  Of these, 14 are operated by Continental Resources, 12 by EOG Resources, and 5 by Marathon Oil Corporation.  In addition, many of the companies have significant capital programs devoted to the Bakken shale. Kodiak Oil and Gas Corporation has stated they plan to spend $60 millions dollars, Oasis will spend $144 million dollars in the West Williston Basin, and Whiting Petroleum Corporation will spend $284 million dollars for operations in the Sanish and Parshall sections of the Bakken shale play.

Well costs range form $5.5 to $8.5 million dollars.  The vast majority of the companies that provide data have costs less than $7.2 million dollars.  Whiting Petroleum Corporation and Marathon Oil Corporation also report the lowest price, $5.5 million dollars.  In addition, Marathon Oil Corporation reports operating costs are less than $5 per barrel in the Bakken play.

In 2008, USGS conducted an assessment of the Bakken shale.  The total undiscovered resource is estimated between 3,063 and 4,319 MMOE, with a mean at 3,645 MMBO of total continuous resources.

4925 Greenville Avenue, Suite 200 | Dallas Texas 75206 | Map

o 214.683.8702
c 214.361.0104
f 214.800.2605
e info@ldvconsulting.com