Bakken Shale Oil Formation - Largest Oil Pool
Found - Parshall Field in Bakken Shale & Three Forks Zone
The Bakken Shale Oil field, which stretches down from Canada into North Dakota and Montana, could hold 3.65 billion barrels
in oil reserves which would be the largest finding in U.S history next to the Oil fields in Alaska. This oil shale
formation is located in the Williston Basin according to the U.S. Geological Survey. Bakken formation is a rich
deposit that the U.S. Geological Survey calls the largest continuous oil accumulation it has ever assessed. On top of
this, landowners are striking it rich as they sell their drilling rights ( mineral rights ) to drilling companies. Looking for an Oil field Job in Bakken Formation? Check out my Bakken
Jobs Section.
In 1995, the USGS surveyed the Bakken area in which they found roughly 151 million barrels
of recoverable oil. Since then, there have been many technological advances causing the big spike to 3.65 billion barrels
of recoverable oil. The biggest oil field, which is located at the Arctic National Wildlife Refuge in Alaska ( ANWAR ), could potentially hold up to 10 billion barrels of oil.
The Bakken Shale Formation Play,
also referred to as the North Dakota Shale, was deposited in the more central and deeper portion of the Williston Basin.
In addition to North Dakota, Montana, and Saskatchewan, a small part of Manitoba is involved in Canada.
The Williston Basin extends down into South Dakota as well but is not considered part of the Bakken Oil Shale Play.
Where is Oil in Bakken Shale Formation being drilled the most? There have been a record
number of oil drilling rigs grinding away at the land. There are now over 4,000 active oil wells in North
Dakota and that estimate is forecast to rise as more and more oil is extracted. Some of the sweet spots in Baken Shale
Oil Field by city are: Beluh, Hazen, Parshall, Garison, Washburn. Bakken Shale Oil Field Counties:
Montrail County, Dunn County, Mercer County. If you have land in these areas, you have probably been approached by some
of the companies below in regard to selling your mineral rights. Some of you might even work on an oil rig in the bakken formation.
Oil companies are using Horizontal Drilling under the
town of Parshall, which is home to less then 1,000 in population. Another area is benethe Lake Sakakawea.
This reservoir extends over 180 miles and joins the Missouri River. A big hot spot in the Bakken Shale right
now is an area called the Three Forks - Sanish area. A company called Brigham Exploration Co. (BEXP) actually has one of the best wells drilled
in the Sanish/Three Forks that has been a producing over 3,000 BOEPD. The Sanish Three Forks area has
been very exciting for companies such as XTO Energy and Continental Resources also. See Below! The Sanish - Three Forks region is located in Montrail, McKenzie, and Dunn County in North Dakota
as well as several other nearby counties. The three forks area is located below the upper Bakken Shale zone
and could potentially be a whole new oil reservoir. This would open up a whole new opportunity for companies that have
a position in the Sanish/Three Forks region in the Bakken Shale. The ( TFS ) Three Forks Region has the potential to add significant oil reserves. Only time will tell!
Natural Gas is also found deep down in Bakken Shale Field. The USGS estimated
that there could be 1.85 Trillion cubic feet in this area as well as nearly 148 million barrels of Natural Gas Liquids.
New Technology - Horizontal Drilling, has made all of this possible because before the year 2000 almost no oil
or gas was extracted from Bakken Shale, which extends nearly 2 miles below the earths surface vertically. Now,
after they drill vertically, the drill horizontally! They is very expensive but affordable if you can
get great results!
Bakken Shale Formation 2010: Due to the current economic crisis
in 2009, oil prices have dropped by 50% from the price during the summer of 2008. This economic recession
has caused banks to tighten lending as well. Both of these factors are causing the companies below to scale back on
their drilling operations. The prospects for the Bakken Shale look bright in 2010. I am expecting oil
to hit the $90-100 zone again at some point. As the price of oil rises in the second half of 2010, companies will
be back exploring the Bakken Shale like never before! Considering a job in the Bakken Formation? Click Here
- Brigham Exploration BEXP - Our land group continues to work diligently
to expand our current approximate 305,400 net acre position in the Williston Basin in what appears to be the premier oil shale
play in the lower 48 states. Brigham Exploration Company (NASDAQ:
BEXP) announced the completion of the Abelmann State 21-16 #1H, the Mortenson 5-32 #1H and the Arnson 13-24 #1H at early 24
hour peak flow back rates of 3,301, 2,314 and 1,339 barrels of oil equivalent, respectively. To date, Brigham has successfully
completed 21 consecutive long lateral high frac stage wells at an average early 24 hour peak flow back rate of 2,543 barrels
of oil equivalent. Brigham also provided an operational update.
Brigham announced the completion of its operated
Abelmann State, Mortenson and Arnson at early 24 hour peak flow back rates of 3,301 (2,844 Bopd and 2.74 MMcf/d), 2,314 (1,924
Bopd and 2.34 MMcf/d) and 1,339 (1,181 Bopd and 0.95 MMcf/d) barrels of oil equivalent, respectively. All of the wells are
located in Brigham's Rough Rider project area with the Abelmann State located in McKenzie County, North Dakota and the Mortenson
and the Arnson located in Williams County, North Dakota. Brigham maintains an approximate 64% working interest in the Abelmann
State, which was completed with 31 frac stages. Brigham maintains an approximate 77% working interest in the Mortenson, which
was completed with 23 frac stages. Finally, Brigham maintains an approximate 93% working interest in the Arnson, which was
completed with 30 frac stages.
Brigham's development of its core operated acreage in Williams, McKenzie and Mountrail
Counties is proceeding with three operated rigs drilling in its Rough Rider project area and one operated rig drilling in
its Ross project area. In addition, one well is fracing and three wells are waiting on completion. The well currently fracing,
the Jack Cvancara 19-18 #1H, is located in Ross approximately 1 mile from the 27 frac stage Sorenson 29-32 #1H, and will be
completed with 36 frac stages. The Sorenson, which holds the record for the highest apparent early 24 hour peak rate for a
Bakken well in the Williston Basin, produced approximately 52,500 barrels of oil equivalent during its first 26 days of production,
or an average of approximately 2,019 barrels of oil equivalent per day. Brigham maintains an approximate 83% working interest
in the Jack Cvancara. Acceleration of Brigham's operated activity is also proceeding as planned with the fifth operated rig
expected to spud the Michael Owan 26-35 #1H in Rough Rider next week.
In terms of potential near term catalysts, we
are looking forward to completing the Rogney 17-8 #1H, which is our first Bakken well in our Ghost Rider acreage position
in Roosevelt County, Montana.
- Continental Resources CLR - Continental CLR is the largest leaseholder in the Bakken Shale. The
Company estimates that approximately half of its 439,000 net acres in North Dakota have the potential for the Middle Bakken
and Three Forks - Sanish zone to produce independently. Continental controls a total of 605,000 net acres in the
Bakken play in North Dakota and Montana. North Dakota Bakken production accounted
for 17 percent of the total for the second quarter 2009, for the first time surpassing production in its Montana Bakken properties.
Continental participated in completing 28 gross wells (8.1 net) in North
Dakota during the quarter. Initial production averaged 737 Boepd, a significant increase over the first quarter of 2009 and
the average for 2008. All initial well results discussed in this press release are seven consecutive day averages.
Montana Bakken production was 6,105 Boepd in the second
quarter of 2009, essentially flat with the first quarter of 2009 and four percent below production in the second quarter of
2008. Montana production accounted for 16 percent of the Company's second quarter 2009 production. The Company did not drill
any wells in the second quarter of 2009 in the Montana part of the play.
- Hess HES - Hess ( HES ) is really adding Bakken Shale acreage in the Williston Basin North Dakota. Hess is now the 2nd
largest operator in the Bakken Shale oil field. In the Williston Basin of North Dakota, we have increased our net acreage
position in the Bakken Play to approximately
500,000 acres.
In North Dakota, net production from the Bakken
reached 13,000 barrels of oil equivalent per day in March. We currently have five rigs dedicated to drilling Bakken wells and we plan to add five additional rigs over the next 12 months.
So, where are we on the drilling? Our current base plan is to utilize the dual laterals across most of our phase one acreage,
and that's because the Middle Bakken and Three
Forks are largely present across that phase one acreage. Now, the cost advantage of this approach is clear.
- XTO Energy XTO XTO buys Headington
Oil company for 1.85 billion. Next was the
Bakken Shale from Headington. In late May,
early June, we just closed that one, a $1.85 billion acquisition that made us one of the largest acreage holders in the Bakken Shale play, one of the best oil plays in
the U.S. That was a 350,000 net acre position and we've added 100,000, so that
make us one of the top two or three acreage holders in the Bakken
Shale. Update - In the 3rd quarter, XTO Energy had 450,000 acres in
the Williston Basin's Bakken Shale Formation. They have seen positive results in a well drilled in the Three Forks / Sanish zone with one of their oil wells hitting 1,750 barrels of oil per day.
2009 Update: If you look at Bakken Shale, we currently
have four rigs running. We will drop to three in May. Bakken
is actually running at 700 barrels a day, net above our forecast. That’s one of the reasons our oil forecast has been
upped as our Bakken wells are doing very well.
In fact, we brought in the best Bakken well we’ve
drilled so far, the Boucher 41X-21. It was 2,000 barrel a day plus Three Forks/Sanish well. Actually, it’s better than
the two, the Angelus and Crater that we’ve announced over the last couple of quarters. We are actually choking that
well back and making probably 800 barrels a day of oil at this moment. No reason to pound it at current prices.
And then we completed a couple of wells at over 400 barrels a day equivalent. One of
the things that’s kind of exciting for us, we’ve had a rig sitting on a super pad. And what that is, is a large
pad we have built in South basinarea that has four wells drilled off of it and that all will be completed here in the second
quarter. Two Three Forks/Sanish and two Middle Bakken,
the wells in that particular area are very good; some of our offset guys had 1,000 barrel a day plus Three Forks wells, as
well as Middle Bakken. So, we should see a nice
bump in oil out of the Bakken in the second quarter
here.
-
Northern Oil & Gas NOG - has entered into an agreement to purchase certain oil & gas leases covering approximately 24,000
net acres in Dunn County, North Dakota. With the addition of the Dunn County leasehold, Northern now holds approximately 60,000 net acres in the growing North Dakota Bakken trend.
July 21st, 2008- Northern Oil & Gas NOG announces completion of three Bakken Shale wells bringing the total to eleven wells drilled.
In addition, Northern holds a working interest in an additional fourteen wells that are in the drilling or completion stages
and is included in nearly 70 permitted or docketed-for-permit drilling locations that are expected to drill between now and
early 2009. Northern Oil controls approximately 60,000 net acres in the North Dakota Bakken play, yielding over 90 net well
locations based on 640 acre drilling units. In addition, Northern controls approximately 22,000 net acres in Sheridan County,
Montana and has successfully completed two wells to the Red River formation.
- Marathon Oil Corp MRO - In the North Dakota Bakken Shale play,
the Company added approximately 14,000 net acres during the quarter, bringing its total acreage holdings
to approximately 350,000 net acres. Marathon currently has four drilling rigs operating in the play,
with plans to add a fifth during the second quarter. Current net production amounts to approximately
11,000 boepd, compared to 8,500 boepd at the end of the first quarter 2009...
- EOG Resources Inc EOG - During the latter part of the first quarter, EOG began completing wells in the North Dakota
Bakken following its winter drilling-only program. In the Parshall Field, the Van Hook 11-02H, in which EOG has 68 percent
working interest, began production at 1,565 barrels of oil per day (Bopd). Also drilled in the Parshall Field, the Fertile
13-18H and Austin 23-32H began producing at 1,153 and 955 Bopd, respectively. EOG has 92 and 46 percent working interest in
the wells, respectively. Outside of the Parshall Field in the Bakken Lite in Mountrail County, EOG drilled the Sidonia 18-14,
which commenced production at 719 Bopd. EOG has 97 percent working interest in the well. EOG is operating 12 drilling rigs
on its 580,000 net acre position in the North Dakota Bakken where it expects to average 32,500 barrels of oil equivalent per
day (Boepd), net in 2010.
Newfield Exploration NFX - Newfield is drilling for Oil in the Bakken Shale formation - Our acreage position has prospective targets that include the Bakken Shale, as well
as the Madison, Red River and Three Forks/Sanish. The Jorgenson 1-15H, was our first Sanish/Three Forks horizontal well. Newfield has approximately 400,000 net acres in the Williston Basin. The total includes approximately
160,000 net acres in development and appraisal areas (Nesson Anticline and west of the Nesson) and approximately 240,000 net
exploratory acres.
The Company's recent results in the Williston Basin continue to benefit from
drilling and completion optimizations. Newfield increased its operated rig count from one to three in early 2010. Two of the
rigs are drilling in the Company's core development areas along the Nesson Anticline (Westberg and Lost Bear). The Company
expects that its Williston Basin production will increase more than 40% in 2010. Recent results include the highest initial
production rates achieved by the Company to date in the Williston Basin.
Newfield has drilled 20 successful oil wells in the North Dakota portion of the
Williston Basin since entering the region in late 2007. The planned 2010 program will consist of development drilling along
the Nesson (Westberg and Lost Bear areas) as well as continued assessment of areas west of the Nesson. Newfield may elect
to add an additional rig in the Williston Basin.
Southern Alberta Basin - Newfield this week spud its first
well in the Southern Alberta Basin where the Company has an operated interest in approximately 224,000 net acres in Glacier
County, Montana. Prospective geologic formations included the Lodgepole, Middle Bakken, Three Forks and Nisku. Newfield plans
to drill eight exploratory assessment wells in 2010.
Denbury Resources DNR - I will give a quick update on our activity within the Bakken and Haynesville areas during the first quarter of 2010. In the Bakken, we continue to manage two drilling rigs in the Bakken. A third rig is contracted and should be moving into the area within the next
several weeks. We are just waiting on the [North Dakota Frost Law] to allow that rig to move into the area.
Our plans for 2010 are to generally drill in the various areas operating throughout our Bakken acreage, but the third rig is planned to be located primarily in the Cherry,
Camp, and Indian Hills areas. Our production during the first quarter of 2010 within the Bakken averaged approximately about 3,560 BOEs per day, with a preliminary estimate
for April's production averaging approximately 4,200 BOEs per day.
The increase in production
from the first quarter to April is primarily due to the three wells that we had fracd in the Bakken during the first quarter in which now we have 30 day average gross production
rates. The [Wayor] Trust 4434, which was a 19 stage frac on a 1,280 acre unit, had initial production of 2,532 BOEs per day.
That well has first 30 day average of 768 BOEs per day
- Questar STR - Questar STR has been drillling in Bakken Shale Formation - The
other thing facing us is just the delineation of our leasehold. By that time we should have a couple of three more wells down,
which will help us understand two things: One is the distribution of the middle Bakken fairway which we believe covers most of our acreage although the eastern edge of our acreage still remains
to be tested and you can see on our latest investor update or operations on slide nine, the Bakken and you can see, some wells overrun the extreme eastern portion, to the east
of our actual leasehold block that are colored blue.
Those wells are 500 barrels a day or less, so they’re starting
to define the eastern limit of the fairway. we’re seeing our wells close to a 1000 barrels a day, the first several
wells and so, we know that the fairway sort of threads along the eastern edge of our block to the middle Bakken.
Right now, we are currently drilling our Three Forks test and we believe
that a portion of our acreage maybe up to half of it is prospective for the Three Forks. We need to sort of understand the
distribution of the Three Forks and the middle Bakken
fairways so that when we go in for full field development, we basically set up a rig on a pad. We build a horizontal lateral
in the middle Bakken and then we skid the rig
over just like we do at Pinedale and drill a basically parallel, but deeper Three Forks well
Kodiak's exploration efforts target oil and
gas production from the middle member between the upper and lower Bakken shales, which are the source for existing hydrocarbons.
The Three Forks / Sanish Formation, a productive interval lying directly below the lower Bakken shale, is also expected to
be a future exploration target. Commercial production from the Three Forks / Sanish Formation is being reported by operators
in the immediate area.
The Company's Bakken shale leasehold position is located on the Fort Berthold Indian Reservation
(FBIR) in Dunn County, N.D. where all Company drilling and completion activity has occurred in 2009. At June 30, 2009, Kodiak
had approximately 54,000 gross and 37,000 net acres under lease. Kodiak operates all of its leasehold on the reservation excepting
an approximate 7,000 net acres that are in a participating area previously established with another operator.
Year-to-date,
Kodiak Oil & Gas Corp. has drilled and completed its first four wells targeting the middle member of the Bakken Formation.
In addition, the Company has one well currently being completed, one awaiting completion and its seventh Middle Bakken well,
the Charging Eagle #1-22-10H, is drilling in the horizontal lateral in the Charging Eagle area in the southeastern portion
of its FBIR leasehold.
Estimated average daily net production for all of Kodiak's producing properties for the month
of July 2009 was 765 barrels of oil equivalent per day (BOE/d), as compared to the average daily net production for the second
quarter of 2009 of 521 BOE/d. Comparatively, average gross production for the FBIR producing properties for July 2009 was
1,220 barrels of oil per day (BO/d) operated and 470 BO/d net to Kodiak. There have been no gas sales as the wells are not
connected to a gas pipeline.
- Encore Acquisition Company EAC- Encore EAC recently finished drilling and completing its first
well in the Sanish Formation of the Bakken Shale Trend, the Charlson 11-16H,
in Williams County, North Dakota. The well was brought online on July 23 at an initial production rate of 1,106 BOE per day
flowing up 7" casing. The Company has a 96 percent working interest in the well, which also contains very favorable pay
in the Bakken Formation. The well is approximately four miles northwest of the best Sanish well drilled to date in North Dakota, the USA 2D-3-1H, which has produced over 560,000 BOE in 19 months. Encore EAC owns
10,400 net acres in the Charlson area and can drill or participate in an additional 28 wells on its current acreage position
in this area of the Sanish. The Company is currently drilling a second Sanish well in the Charlson Field, which it plans to
complete in the third quarter. Encore plans to drill a total of six wells in the Sanish in the Charlson Field in 2008. Additionally,
two other Sanish wells will be drilled in the Charlson area offsetting the USA 2D-3-1H well. This area is prospective for
both the Sanish and Bakken Formations, which could significantly add to the total recoverable reserves under the Company's
leases. Encore
has recently expanded its acreage position in the Bakken and Sanish Shale Play to over 240,000
net acres. Encore plans to add a third rig to drill Bakken and Sanish wells in August 2008. Upon arrival of the additional
rig, Encore plans to drill a Sanish well in its Cherry Creek Prospect, where the Company owns a significant lease position
of approximately 70,000 net acres. Encore believes its Cherry Creek Prospect is in the Sanish fairway. The Company also plans
to commence drilling in August in the Company's Almond Prospect, in Mountrail and Ward Counties, North Dakota, in which the
Company currently holds an acreage position of approximately 53,000 net acres. The Almond Prospect is prospective for both
the Sanish and Bakken Formations. The Company expects to drill and complete
five-to-six Bakken and Sanish wells in the third quarter of 2008, as well as re-frac several current Bakken producers.
- Whiting Petroleum Corporation WLL - Whiting's net production from the Middle Bakken formation
in the Sanish and Parshall fields of Mountrail County, North Dakota averaged 23,365 BOE per day in March 2010, up 23% from
the 18,990 BOE average daily rate in December 2009 and up 57% from the 14,930 BOE average daily rate in March 2009.
Sanish
Field. From January 1 through April 20, 2010, Whiting completed 19 operated wells in the Sanish field, bringing to 83 the
number of Whiting-operated wells in the field. One of these 19 wells, the Anderson 11-7TFH, was completed in the Three Forks
formation flowing at an initial daily rate of 1,262 BOE. Initial production rates from the 18 wells completed in the Bakken
formation averaged 2,673 BOE per day. The most recent Whiting-operated wells completed in the field were the Rohde 43-1H and
the Holmberg 44-24H. The Rohde 43-1H, an infill well, was tested on April 18, 2010 flowing at a daily rate of 2,685 barrels
of oil and 1.6 million cubic feet (MMcf) of gas (2,946 BOE) from the Middle Bakken formation. The well was fracture stimulated
in 18 stages, all using sliding sleeve technology. Whiting holds a 30% working interest and a 25% net revenue interest in
the Rohde 43-1H, which was drilled in the center of the Sanish field. This well offsets the Rohde 44-1H, which was completed
flowing 2,528 BOE per day on June 25, 2009.
The Holmberg 44-24H, which was drilled on the west side of the Sanish field,
flowed 2,198 barrels of oil and 2.2 MMcf of gas (2,558 BOE) during a 24-hour test of the Middle Bakken on April 13, 2010.
This well was fracture stimulated in 24 stages, 18 stages using sliding sleeves and six stages using the "plug and perf"
method. Whiting owns a 36% working interest and a 27% net revenue interest in the well.
As of April 20, 2010, 10 operated
wells were being completed or awaiting completion and nine operated wells were being drilled in the Sanish field. In 2010,
Whiting intends to drill a total of 86 operated wells (48 net wells) in the field, of which 76 are planned Bakken wells and
10 are planned Three Forks wells.
Whiting's net production from the Sanish field in the first quarter of 2010 averaged
15,180 BOE per day, an increase of 71% over the first quarter 2009 average rate of 8,890 BOE per day. Our net production from
the Sanish field averaged 16,640 BOE per day in March 2010, a 32% increase from 12,560 BOE per day in December 2009 and a
69% increase from 9,870 BOE per day in March 2009. Whiting plans to continue with its current nine operated rig count in the
Sanish field through 2012.
Parshall Field. Immediately east of the Sanish field is the
Parshall field, where we own interests in 73,241 gross acres (18,188 net acres). The Company's net production from its interests
in the Parshall field during the first quarter of 2010 averaged 6,510 BOE per day, a 21% increase from the 5,360 BOE per day
average in the first quarter of 2009. Our net production from the Parshall field averaged 6,725 BOE per day in March 2010,
a 5% increase from 6,430 BOE per day in December 2009 and a 33% increase from the 5,060 BOE average daily rate in March 2009.
As of April 20, 2010, we have participated in 116 wells at Parshall, of which 111 are producing, four are awaiting completion
and one is being drilled. More........
ConocoPhillips COP - In the Bakken shale play, three wells were spud during March, bringing the total current year well count to six.
Three wells were placed on production during March with initial rates of approximately 2,000 barrels of oil per day each.
- St. Mary Exploration SM - St. Mary has two operated drilling rigs running in the Williston Basin focused on Bakken and Three Forks targets
and is also participating in similar programs with operating partners. Seventeen (17) operated wells targeting the Bakken
and Three Forks intervals are planned for 2010.
Samson Oil & Gas SSN - Samson Oil & Gas has a small amount of acreage in the Bakken Shale and has announced some positive drilling results
in 2010. North Dakota – Williston Basin
- Samson 31% Average Working Interest
in 6 sections - The Gene 1-22H
well, a 17060’ measured depth Bakken test, finished drilling in February 2010. The follow-up well, the Gary 1-24H, is
Samson’s third Bakken well in the North Stockyard Project area and will be drilled following a successful completion
on the Gene well. Zavanna LLC (the operator) has issued an AFE in the gross amount of $6.2M for the drilling and completion
of the Gary 1-24H well. Samson will have a 37% working interest in the Gary well. It is anticipated that the Gary 1-24H well
will be drilled mid-May. Fracture
stimulation operations at the Gene #1-22H well located in Williams County, North Dakota have been successfully
completed and flow back operations have been continuing since the last report. The oil rate over the
last 24 hours (to 0800 hours CST this morning) was 859 BOPD with a gas rate of 1,010 MCFD which is 1,027
BOEPD. The oil cut is 45%, which is, as expected,increasing as the frac fluid is recovered. Gene
1-22H - In the eight hour period following the completion of the clean
out operation the well flowed at an average rate of 2,406 BOPD and 3,180 MSCFD for a combined rate of 2,936 BOEPD.
GeoResources GEOI - Bakken Shale - GeoResources has established an operated Bakken shale project in Williams County, North Dakota. The
Company has acquired approximately 71,000 gross (47,000 net) leasehold acres and intends to develop the acreage with two industry
partners. The Company retained a 47.5% working interest (“WI”), representing approximately 22,300 net acres
and is the operator of the project. We plan to drill at least three horizontal wells in the Middle Bakken Formation prior
to year end. Recent activity in Williams County has confirmed commercial production in the Middle Bakken Formation,
which is a primary objective for the joint venture. Secondary objectives include the Three Forks, Madison and the Red River
Formations.
In our non-operated joint venture, the Company holds a 10% - 18% WI in approximately 106,000 gross (13,900
net) leasehold acres, located in Mountrail and adjacent counties. To date, the Company has participated in 49 wells
drilled by its joint venture operator and has realized a 100% success rate. In addition, the Company owns minor working
interests in more than 160 wells within the Bakken/Three Forks play. Our joint venture continues to acquire acreage
in this expanding play and is currently running five drilling rigs continuously.
Rosetta Resources ROSE - Alberta Basin Bakken Oil Program - As previously announced, the
Company continues to analyze and evaluate the core, log and production test data obtained from the 2009 drilled wells that
were located across a large expanse of Rosetta's position in the play. These wells confirmed the presence of oil-saturated
and over-pressured Banff, Bakken and Three Forks intervals, and an oil-saturated Nisku section. The Company remains very constructive
on the play and continues to add acreage in the area. The Company now holds 286,000 net acres in the play, an increase of
about 46,000 acres from year-end 2009.
Given the significant resource potential of the area, the
Company is focusing its 2010 capital program activities on executing additional production tests from the numerous zones of
interest. Rosetta recently moved a rig into the field and plans to conduct vertical fracture-stimulated completions in at
least two of the wells that were drilled in 2009. The Company believes these tests will yield very cost-effective information
that can optimize future drilling and completion activities. The vertical tests will be conducted during the next few months,
after which time the Company expects to begin drilling additional wells.
In commenting on the
Alberta Basin Bakken play, Limbacher noted, "Our 2009 activities were focused on delineating our position and testing
our resource concept for the play. We were very pleased on both counts. In 2010, we intend to take the most cost-effective
steps possible to get the data necessary to establish commerciality in this unique play. We are fortunate to have accumulated
such a large position in this exploratory play at a very low entry cost and we are equally pleased with the resource potential
that our initial three delineation wells verified. Like the early days of the analog play in the Williston Basin, we are committed
to doing the essential science that these plays require. In addition, we are beginning to tackle the longer lead time permitting
and planning issues that are necessary before development programs can get underway."
US Energy Corp USEG - U.S. Energy Corp. (Nasdaq:USEG) ("USE" or the "Company"), a natural resources exploration and development
company with interests in molybdenum, oil and gas, geothermal, and real estate assets, today announced that it has entered
into a Drilling Participation Agreement (DPA) with Brigham Exploration Company (Nasdaq:BEXP) ("Brigham") to earn
working interests in up to fifteen 1,280 acre spacing units in Brigham's Rough Rider project area located in Williams and
McKenzie Counties of North Dakota. The terms of the DPA call for the drilling of up to 15 initial Bakken wells in 15 separate
1,280 acre spacing units. The ultimate number of wells to be drilled in the units could reach 90.
Continental Resources Photo CLR
Bakken Shale Map
Talisman Energy TLM - In the Bakken core, Talisman drilled 43 gross (36 net) wells, achieving top tier
performance in drilling costs and production rates. However, the Company has decided to exit southeast Saskatchewan to focus
on more material assets in North America. Yesterday, Talisman entered into an agreement to sell these assets for proceeds
of approximately $720 million. Current production is approximately 8,500 boe/d (net).
- Tetron Energy - TEC -Tetron Energy is drilling in the Bakken Shale - Williston Basin. Teton holds a non-operated interest in eight wells,
including seven Bakken wells and one Red River well. The Company has received a permit to drill a Red River well in its Goliath
project in Williams County, North Dakota. The location is built, a rig has been acquired and the well is expected to spud
in November, 2008.
- Grey Wolf GW - We're pleased to announce that we have recently signed a term contract for a rig that has mobilized and is drilling in
the Bakken shale play in North Dakota. Grey Wolf
targeted this significant resource play in 2007 as a priority for expanding our geographic footprint in the Lower 48. We expect
additional demand for rigs in this resource play in the near term.
- Penn Virginia PVA - ( seeking alpha ) PVA announces that it has established a postion in the Bakken Shale - Penn
Virginia drilled or participated in three Horizontal Bakken Wells in Dunn County in North Dakota. Those wells have – two of the three
have performed very well, the first one is only making about 50 barrels a day of oil. That really is not commercial, but it’s
a data point. And importantly, the second operated well is making about a little over 650 barrels a day, which is a very good
well and we got another one in which we have very small working interest, but again data – this is making 545 barrels
a day - We’ve got about 57,000 acres in the Bakken
- MDU Resources MDU - MDU is active in the Bakken Shale, mostly in the Three Forks area zone. Early this year, we added approximately
40,000 net acres of North Dakota’s Bakken
area. This brings our total 56,000 net acres in this area. Our expanded acreage is targeting the three Forks/Sanish formations,
the terms here are between three and five years with an option to extend the three-year leases in other couple of years.
We
do intend to drill a couple of wells on this acreage just this year.
We drilled the test well within our existing acreage
in the middle Bakken formation, 500 feet from
and parallel to an existing three Forks horizontal well. It was drilled in 2008. That was mask in 1,129 well. Our middle Bakken well spaced on 648 acres drilled to a depth
of 10,528 feet. It has a horizontal/lateral of 4,792 feet. We are waiting for completion on this.
We expect to use the
nine stage frac for completion. We’re looking to gather and analyze critical data as we complete the well. Can you believe,
it will provide the input information about whether there is communication between the three corps and the Bakken reserve.
In February, we completed our first infill well in the middle
Bakken. This was completed in a 12 stage frac.
Our 30 day production rate was 547 barrels of oil as this was the higher rate in the two offset wells, very encouraged by
these results. We are optimistic about our infill drilling program in the Bakken.
Petroleum Development PETD - We currently own an interest in 13 gross, 3.7 net oil and natural gas wells. Our leasehold encompasses two project areas
in Burke County of approximately 75,100 gross acres with approximately 46,300 net undeveloped acres remaining for development
as of December 31, 2008. The eastern area acreage is prospective for development of oil and gas reserves in the Nesson Formation.
Nesson development wells are approximately 6,000 feet in depth with single or multiple horizontal legs to 4,000 feet or more
in length for a measured length of 10,000 feet or more per leg. The westernmost acreage block is undeveloped and includes
approximately 23,600 gross, 16,200 net acres. The western project targets exploratory horizontal drilling to the Midale/Nesson/Bakken
Formation at depths of approximately 6,800 feet with a lateral leg component of up to 6,100 feet. In 2009, pursuant to a third
party arrangement, we plan to drill up to four exploratory Bakken wells on our acreage with minimal capital obligation on
our part in exchange for an interest in the acreage position.
