Bakken Shale Oil Formation - Largest Oil Pool
Found - Parshall Field in Bakken Shale & Three Forks Zone
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The Bakken Shale Oil field, which stretches down from Canada into North Dakota and Montana,
could hold over 4 billion barrels of oil reserves. This would make the Bakken formation the largest oil
discovery in the U.S next to the Oil fields in Alaska. Located in the Williston Basin, the Bakken Formation is
a rich oil 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, drilling technology has improved causing reserve estimates
to spike up between 6 - 24 billion barrels of recoverable oil. The largest current oil field,
which is located at the Arctic National Wildlife Refuge in Alaska ( ANWAR ), could potentially hold up to 10 billion barrels of oil. However,
the ANWAR presently has a drilling ban on it due to environmental reasons.
The Bakken Shale 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 and Alberta are involved
in Canada. The Williston Basin extends down into South Dakota as well but is not considered part of the Bakken Oil Shale Play.
The South Dakota portion is considered the Red River Play. However, In 2011, a new pool of oil has been found
in Montana and up towards Alberta Canada. This play is being called the Alberta Bakken Shale.
Where
is Oil in Bakken Shale Formation being drilled for the most? There have been a record number of
oil drilling rigs grinding away at the land. There are now over 6.000 active oil wells in the Bakken Shale
Field ( most in North Dakota & Montana ) and that estimate is expected to rise as more and more oil
is extracted. Some of the sweet spots in Baken Shale Oil Field by City are: Sidney, MT -
Terry, MT - Williston, ND - Parshall, ND. Bakken Shale Oil Field Counties: Williams County,
ND - Divide County, ND - McKenzie County, ND - Mountrail County, ND - Dunn County, ND - Mercer County, ND - Billings County,
ND - Stark County, ND - Morton County, ND - Burke County, ND - Richland County, MT - Dawson County, MT - Wibaux County,
MT - Roosevelt Co, MT - Prairie County, MT . If you own land in these areas, you've 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.
Bakken Shale Alberta
Canada - The Bakken Shale has moved up into Canada, specifically, Alberta Canada. A company called Murphy Oil
(MUR) has been drilling in the Exshaw Shale in 2012 and they hit oil in the Three Forks zone of the Alberta Bakken Shale. More news to come....
Oil
companies are using Horizontal Drilling under the town of Parshall, which is home to less then 1,000 in population.
Williams County and McKenzie County, North Dakota are the most active areas of exploration in the Bakken Shale. Another
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) has
one of the best wells drilled in the Sanish/Three Forks. This wellt has produced over 5,000 BOEPD in a
24 hour period. The Sanish Three Forks has been very exciting for companies such as Whiting Petroleum 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 is most likely a seperate 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. As of 2011, it has been said that the Three
Forks zone has been proven to be a whole new oil reservoir. The Bakken Shale continues to expand and areas
like the Sanish/Three Forks are causing total bakken oil reserve estimates to go up.
Natural Gas - Natural Gas has also been found deep down
in Bakken Shale Field. The USGS estimated that there could be over 2 Trillion cubic feet in this area.
The Bakken Shale could emerge one day as a natural gas discovery as well.
The Bakken Shale will end up being the
largest oil discovery the world has seen in 30-40 years. The Bakken Shale lifespan will extend well beyond 2020.
Back in 2008, when the Bakken Shale started heating up, nobody imagined we had so much oil in North Dakota and Montana.
Each day, new wells are being drilled, more counties are being added into the prospective area, and jobs are being created.
North Dakota has one of the lowest unemployment rates in the country with the bakken shale creating high paying jobs. I
expect one day surrounding cities such as Bismarck, ND could get into the mix.
Bakken Shale Formation
2012: Drilling continues to see growth in the Bakken Shale in 2011. Oil prices are around $84 as
we head into 2012. The prospects for the Bakken Shale look bright in 2012. I am expecting oil to hit
the $90-$100 zone again at some point but with a possible recession looming, we could see the price of oil to hit $70
a barrel. As long as the price of oil stays above $70, companies will continue to contract huge
multi-billion dollar joint ventures. The Bakken Shale is by far the most productive oil field in the United States
right now! If you would like to post a classified ad regarding the Bakken Shale, click here.
Which Companies are Drilling at Bakken Shale Oil Field? Bakken Shale Stocks
Below
- Whiting Petroleum Corporation WLL - Whiting Petroleum (WLL) Bakken Shale, Three Forks Formation
2011 Update - New Discovery at Tarpon Prospect Flows at Williston Basin Bakken Record Initial Rate of 7,009 BOE/D
(4,815 BO/D and 13,163 MCF/D) on Full 24-Hour Test Bakken and Three Forks Development
Lewis & Clark/Pronghorn Prospects. Whiting's net production from the Lewis & Clark/Pronghorn
prospects averaged 3,960 BOE per day in the third quarter of 2011, up 50% from the 2,640 BOE per day average in the second
quarter of 2011. From July 15 through October 22, 2011, Whiting completed 12 new wells at Lewis & Clark/Pronghorn, bringing
the total number of producing operated Pronghorn Sand(1) / Three Forks wells to 38. As of October 22, 2011, there
were 11 operated wells being completed or awaiting completion and seven wells were being drilled. We currently have seven
drilling rigs operating in these prospects, and we expect to have eight rigs working by year-end 2011.
We own 384,658 gross (255,905 net) acres in the Lewis & Clark/Pronghorn prospects,
which is three and a half times the area of Sanish field. Please see the map in our corporate presentation. Based on our drilling
activities to date across Lewis & Clark/Pronghorn, we believe that currently 52% of our total acreage is drillable and
de-risked (46% at Lewis & Clark and 59% at Pronghorn). The following table summarizes the total and de-risked acreage
at Lewis & Clark and Pronghorn.
Hidden
Bench Prospect. Whiting's net production from the Hidden Bench prospect averaged 855 BOE per day in the third
quarter of 2011. We currently hold 59,734 gross (29,334 net) acres in the prospect, which is located in McKenzie County, North
Dakota. Through October 22, 2011, Whiting completed five wells in the Middle Bakken on the prospect. As of October 22, 2011,
we had two operated wells waiting on completion and two rigs drilling in the area. Based on our drilling to date, we believe
100% of the prospect is now drillable for the Middle Bakken and de-risked. We estimate we can drill at least two Middle Bakken
wells per 1,280-acre spacing unit at Hidden Bench. This equates to 93 gross de-risked Middle Bakken locations. We have not
yet tested the Three Forks at Hidden Bench. Please see the Hidden Bench map in our corporate presentation.
Tarpon Prospect. Whiting has set a new initial
production record for all Bakken wells drilled in the Williston Basin. The Tarpon Federal 21-4H well was completed in the
Middle Bakken (after a 30 stage sliding sleeve frac job) flowing 4,815 barrels of oil and 13,163 Mcf of gas (7,009 BOE) per
day on October 17, 2011. The Company owns a 56% working interest and a 45% net revenue interest in the Tarpon well. Whiting
drilling engineers also set a new Tarpon Prospect area record by drilling this well to total depth in 13.3 days. We expect
the completed well cost to be $6.35 million. Whiting holds 8,125 gross (6,265 net) acres at the Tarpon prospect, which is
located in McKenzie County, North Dakota. Whiting has controlling interests in four 1,280-acre Tarpon prospect spacing units.
We have the potential to drill a total of 12 Middle Bakken and eight Three Forks wells in these units. Based on our drilling
to date, we believe 100% of the prospect is now drillable for the Middle Bakken and de-risked. Please see the Tarpon map in
our corporate presentation.
Cassandra
Prospect. Whiting currently holds 30,664 gross (14,483 net) acres in Cassandra and has controlling interests
in 12 1,280-acre spacing units. We have drilled four wells to date in 2011 with IP's that averaged 878 BOE per day. Based
on our drilling and other operators drilling to date, we believe 100% of the prospect is now drillable for the Middle Bakken
and de-risked. We have the potential to drill a total of 24 operated Middle Bakken wells and participate in 24 non-operated
wells in Cassandra. Please see the Cassandra map in our corporate presentation.
Missouri Breaks Prospect. We plan to spud our first well in Missouri Breaks in the fourth
quarter of 2011. Whiting currently holds 58,200 gross (40,250 net) acres in the prospect and has controlling interests in
46 1,280-acre spacing units. Missouri Breaks is located in Richland County, Montana.
Sanish Field. During the third quarter, Whiting completed 28 gross operated wells. Subsequent
to the quarter we have completed seven more gross operated wells. We currently have 17 wells waiting on completion and eight
wells being drilled. The following table summarizes the Company's operated and non-operated net production from the Sanish
and Parshall fields in the third quarter and in September 2011
Brigham Exploration BEXP - Brigham Exploration (BEXP) is the best Bakken
Shale stock that you can buy in my opinion - Brigham
Exploration Company(NASDAQ: BEXP) announced the successful completion of
additional infill wells in theWilliston Basin, including the Brad Olson 9-16
#3H and the Erickson 8-17 #3H, bringing the total number of infill wells completed by the company to date to four at an average
early 24-hour peak rate of approximately 3,378 barrels of oil equivalent. To date, Brigham has completed 59 consecutive long
lateral high frac stage wells inNorth Dakotaat
an average early 24-hour peak rate of approximately 2,860 barrels of oil equivalent. Brigham also announced that it has completed
two acreage transactions and has grown itsWilliston Basinacreage
position to approximately 371,200 net acres. As a result of the acreage transactions and the positive results of the Johnson
30-19 #1H well inMontana, Brigham's core acreage position has grown 6% to
approximately 217,900 net acres. Brigham also provided an update on its drilling and completion activities in theWilliston
Basin.
Infill Well Success
Brigham announced the successful completion of the
Brad Olson 9-16 #3H and the Erickson 8-17 #3H, both of which are located in Brigham's Rough Rider project area inWilliams
County, North Dakota. The Brad Olson 9-16 #3H is the third well completed in the spacing unit, and is located, on average,
approximately 1,390 feet from the Brad Olson 9-16 #2H, which was completed inNovember 2010. Based on production to date, all
three wells in the Brad Olson spacing unit are performing comparably. The Erickson 8-17 #3H is the second well completed in
the spacing unit, and is located, on average, approximately 1,790 feet from the Erickson 8-17 #1H. Similar to the Brad Olson
wells, no interference was noted in the early production performance of the two wells. Overall, infill drilling results continue
to support Brigham's view that at least four wells should be completed per spacing unit per producing horizon in theWilliston Basin.
WillistonBasin Acreage Acquisitions
Brigham has completed two acreage transactions during 2011, and currently
has approximately 371,200 net acres in theWilliston Basin. The majority of
the acreage additions are located inMcKenzie County, North DakotaandRichland County, Montana. In total, Brigham now believes that is has 217,900 net
core de-risked acres, which reflects the aforementioned acreage transactions and the acreage added to the core de-risked position
inMontanabased on the success
of its Johnson 30-19 #1H well announced last month. Brigham now believes that its remaining core de-risked drilling inventory
is comprised of 763 net locations, which represents a 5% increase from year-end.
WillistonBasin Operated Drilling
and Completion Update
Brigham's
accelerated development of its acreage inNorth DakotaandMontanais proceeding with four
operated rigs drilling in Rough Rider, two operated rigs drilling inRossand one operated rig drilling inMontana.
Brigham's eighth dedicated operated rig is expected to arrive this month and is anticipated to drill wells in Rough Rider.
InNorth
Dakota, Brigham is currently drilling twoThree Forkswells,
one in its Rough Rider project area inWilliams Countyand
the other in itsRossproject
area inMountrail County. Two additionalThree
Forkswells are anticipated to spud in Rough Rider by mid-summer, both of
which are inMcKenzie County.
InMontana, Brigham recently completed drilling operations on the
Gobbs 17-8 #1H, which is located inRoosevelt County, and will drill two consecutive
additional wells inMontana, one of which is located inRoosevelt
Countyand the other inRichland
County.
Brigham currently has three
wells flowing back, three wells fracing, two of which are being simultaneously fracture stimulated, and 15 wells waiting on
completion. One of the wells currently flowing back is the Voss 21-11H, which is located inRichland
County, Montana.
Brigham has added
its additional fracture stimulation capacity and is now running two fully dedicated frac crews focused on completing Brigham
operated horizontal wells in the basin. Brigham estimates that it will be capable of fracture stimulating and bringing on
line to production a minimum of eight wells per month due to the efficiencies gained by simultaneous fracture
Continental Resources CLR - Continental Resources (CLR) is the largest
leaseholder in the Bakken Shale. As of September 30, 2011, Continental had a total of 901,098 net acres leased in
the Bakken play. The Company currently has 23 operated drilling rigs in North Dakota and
two in Montana which have the potential for
the Middle Bakken and Three Forks - Sanish zone to produce independently.
"Superior rates of return in
the Bakken are the key to our 2012 drilling program and production growth," Mr. Hamm said. "Our rate of return in
the Bakken currently ranges from 40-to-50 percent, based on an average well cost of $8 million
and our current estimated ultimate recovery of 603,000 Boe per well. The Bakken remains the focus of our growth plan.
Bakken
Shale Play (North Dakota and Montana)
Continental's
Bakken production of 34,505 Boepd in the third quarter of 2011 was 27 percent higher than production of 27,177 Boepd in the
second quarter of 2011 and 73 percent higher than Bakken production of 19,953 Boepd in the third quarter of 2010.
Third
quarter 2011 Bakken production accounted for 52 percent of Continental's total production in the period, compared with 45
percent in the third quarter of 2010.
Continental participated in the completion of 83 gross (28.5 net) wells in the
Bakken in the third quarter of 2011.
In terms of Company-operated wells, Continental completed 46 gross (24.5 net) wells
in the Bakken in the third quarter. Average initial one-day test period production was 1,096 Boepd for the Company's operated
wells in the third quarter. The Company currently has 45 gross operated wells in various stages of completion. Of these, 20
are scheduled to be fracture-stimulated, and 25 have been fracked and are being readied to go into production.
Continental
previously reported individual well highlights for its third quarter 2011 in a press release issued on October
7, 2011.
Continental's standard well fracture-stimulation design is 30 stages, but varies according to local
geology. The Company recently fracked a well with 40 stages.
Continental's Bakken lease position was 901,098 net acres
at September 30, 2011, with 72 percent of its acreage in the North
Dakota portion of the play. Sixty-eight percent of the Company's Bakken net acreage is undeveloped.
The Company
has 23 operated drilling rigs in the Bakken - 21 in North Dakota and two in Montana
- and four dedicated crews performing hydraulic fracturing services. The Company plans to add back a fifth crew later this
month.
- Hess HES - Hess ( HES ) is really adding Bakken Shale acreage in the Williston Basin North Dakota. Hess is now one
of the largest operators in the Bakken Shale oil field. In 2011, we plan to invest about $1.8 billion in the Bakken oil shale play in North Dakota, where we currently
hold more than 900,000 net acres. Hess Bakken 2012 Update - In the Bakken oil shale play in North Dakota, we generated
strong growth throughout the second half of the year and exited 2011 at a peak net rate of approximately 50,000 barrels of
oil equivalent per day. We maintain our 60,000 barrels of oil equivalent per day forecast for the Bakken in 2012. We
will also continue to invest in infrastructure projects, including the Tioga Gas Plant expansion and our crude oil rail loading
and storage facility, which will become operational in February. Net production from the Bakken in 2012 is forecast to average
60,000 barrels of oil equivalent per day or double the 2011 average of 30,000 barrels of oil equivalent per day. We expect
net Bakken production to further increase to 120,000 barrels of oil equivalent per day in 2015. On the well rates, we've
got 113, 34-plus stage systems installed in the Bakken
with 76 on production now. And those wells have 30-day IPs that are continuing to average 1,000 barrels a day. So we're very
pleased by those results. And as we continue to improve our subsurface understanding, of course, we'll optimize those frac
stages and designs to maximize profitability. So areas with very good rock, we may reduce the number of frac stages from 38
to something smaller as a way to maximize profitability. Well costs while we're in HBP mode, still about $10 million per well.
One thing that I think people sometimes don't remember is that first well that you're drilling in this HBP mode carries a
lot of the costs because we build the pad for 6 to 8 wells, we bring all the infrastructure up to the well pad, getting ready
for that pad drilling. So $10 million is still a pretty good HBP well cost. Regarding EURs, we're still sticking with the
550 for now. We're just waiting to get enough statistical data to have confidence to increase those EURs.
- Marathon Oil Corp MRO - Marathon Oil (MRO) Bakken Shale - Marathon Oil currently
has six drilling rigs -- plus one rig dedicated to completions -- operating in North Dakota's Bakken shale play and added
a second crew for hydraulic fracturing activities during the third quarter. The Company expects to increase production from
the current rate of 17,000 net boepd to a 2011 exit rate of approximately 20,000 net boepd. Marathon Oil has 27 gross operated
wells awaiting completion and plans to bring an additional 33 wells on line before the end of the year.
In the Bakken,
Marathon Oil continues to refine its completion techniques and has moved to 20-stage hydraulic fracturing operations, with
plans for 30-stage "fracs" in the next few months. As a result, the Company has seen substantial improvement in
initial production (IP) rates. The following chart provides specifics for five recent Company-operated wells completed with
20-stage fracs:
- EOG Resources Inc EOG - EOG Resources (EOG) has
accumulated over 600,000 acres in the Bakken Shale, primarily in North Dakota. In North
Dakota, EOG again reported consistent results from its drilling program. A number of wells were completed across the
Bakken with strong initial production rates. In Mountrail County, the Liberty 18-14H LR,
drilled with a 12,675-foot lateral, began initial production at 1,215 Bopd. EOG has 96 percent working interest in the well.
In Dunn County, EOG has 84 percent working interest in the Horse Camp 2-11H and 101-11H.
Completed in the Bakken and Three Forks formations, respectively, the wells began flowing to sales at initial maximum production
rates of 1,323 and 1,833 Bopd, respectively. Also in the Three Forks, EOG has a 55 percent working interest in the Mandaree
102-05H, which was completed to sales at a maximum peak rate of 1,189 Bopd.
Exxon Mobil (XOM) - Exxon Mobil (XOM) bought into the Bakken Shale with the XTO Energy deal - We have
approximately 410,000 net acres of leasehold and 7 operated rigs in the tight oil reservoirs of the Bakken Shale. In
the Bakken, liquids production in the third quarter
rebounded strongly from the severe weather impacting operations in the first half of 2011, increasing by 19% from the second
quarter and 25% year-over-year. We've added 38 wells year-to-date in the Bakken, with 18 of those in the third quarter. So I
think that gives you a good feel of kind of how the activity is going, and once we get a little farther down the curve, we'll
talk more about specific volumes.
Northern Oil & Gas NOG - Northern Oil & Gas NOG Bakken Shale
Update - 2011 DRILLING AND PRODUCTION
GUIDANCE - As of March 1, 2011, Northern Oil controlled 147,407 net acres in the Williston Basin targeting the Bakken and Three Forks formations
and owned working interests in 337 successful discoveries, consisting of 332 targeting the Bakken and Three
Forks formations and five targeting Red River structures. Northern Oil is currently
participating in 136 gross (13.32 net) Bakken or Three Forks wells drilling, awaiting completion
or completing.
Northern Oil expects to spud approximately 10.6 net wells
in the first quarter of 2011, and reaffirms its previous guidance of 36 net wells expected to be spud during 2011. Northern
Oil reaffirms its guidance to produce an average of 6,500 barrels of oil equivalent per day ("BOEPD") in 2011.
Northern Oil continues to develop its core Bakken and Three Forks
acreage position at an accelerating pace. According to the North Dakota Industrial Commission, approximately 168 rigs
are currently drilling in the North Dakota Bakken and Three Forks plays, up from approximately
99 rigs drilling last year at this time. The significant rig increase in the play continues to accelerate the development
of Northern Oil's core acreage position.
ACREAGE UPDATE
- In 2010, Northern Oil acquired leasehold interests covering an aggregate of 56,858 net mineral acres for an average
of $1,043 per net acre in its key prospect areas. In the fourth quarter of 2010, Northern
Oil acquired approximately 18,029 net mineral acres for an average of $954 per net acre in all
of its key prospect areas in the form of both effective leases and top-leases spanning across the counties of Billings,
Burke, Divide, Dunn, Golden Valley, McKenzie, Mountrail,
Stark and Williams, North Dakota and Richland
and Roosevelt, Montana.
Newfield Exploration NFX - Newfield Exploration NFX 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.
Williston Basin - In response to service cost pressures, Newfield is voluntarily reducing its activities in the Williston Basin. The Company
has reduced its operated rig count and is deferring 13 completions into early 2012. Well production performance continues
to be at or above expectations. Substantially all of the recent completions were super extended laterals. The table
below shows notable recent wells drilled and completed on average for approximately $11 million:
Newfield
is nearing completion of its 2011 assessment program in the Southern Alberta Basin of northern
Montana. To date, the Company has drilled seven vertical wells, two horizontal wells and
is in the process of testing several vertical completions. The Company's first horizontal well had initial gross production
of approximately 225 BOEPD with less than one-third of the lateral producing. The second horizontal well was not fracture
stimulated. Newfield's average working interest is approximately 85%. To date, three of the vertical wells have been
tested and flowed low volumes of oil. Newfield's work program to date satisfies about 80% of its commitments to hold its 340,000
acre position for a five-year period
Chesapeake Energy CHK - Chesapeake Energy
(CHK) Bakken Shale Update - We are on the southern
side of the Williston Basin. We probably 10 or 15 years ago had assets in the central part of the basin and drilling for more
conventional targets and, frankly, just missed the Bakken, and we regret that, of course. But Williston
Basin is a big basin, and we -- I think we announced either one quarter -- I guess -- I think it was in the January conference
call, that we were building a position there. At the time, we had around 100,000 acres. I think we're up to 320,000 or so
now, and probably we'll push 400,000. As you correctly point out, we have permitted some wells. We haven't started to drill
them yet.
Occidental Petroleum (OXY) - Occidental Petroleum (OXY) recently bought into the Bakken Shale - In the Williston,
we have increased our acreage in 2011 from 204,000 acres to 277,000 acres. We expect that our rig count will be about 6 at
the end of 2012. Additional capital that could reasonably be deployed here has been shifted to higher-return opportunities
in California and the Permian. This may also encourage Bakken well costs to decline
Denbury Resources DNR - Denbury Resources DNR Bakken Shale - Improved
drilling and completion activity in the Bakken
continued during the third quarter as we ramped up from 5 drilling rigs to 7 working rigs during the period. The drilling
activity resulted in improved production rates and additional proved reserves during the fourth quarter for our Bakken production.
Our Bakken team continues to introduce improvements in the drilling and completion process as well as overall well
operation. Operational advancements are evident in several areas. Drilling times, the number of completions and initial and
sustainable production rates continue to see improvement. Improvement, of course, are measures to results. We saw Bakken production rates increase during the third quarter, with production average
9,976 net BOEs quarter-to-quarter. That's a 31% increase over the second quarter Bakken production rates. Drilling time measures from spud dates to spud release also improved from the first
quarter to the second quarter and again, from the second quarter to the third quarter. We saw an average of 59 days for the
long laterals during the winter months during the first quarter. That reduced to an average rate, day rate of 40 drilling
days during the second quarter, dropping again to an average of 33 days during the third quarter.
We drilled a test
well in the Almond area during October. After logging, we found the Almond area's new Bakken had oil saturations lower than other productive Bakken areas. This logging and petrophysical analysis indicated a noncommercial completion.
This is coupled with the poor result of other Bakken
-- Almond area wells. We decided to cancel that second well in the Almond. So our Almond area consists of about 65,000 acres,
which means we hold an excess of approximately 200,000 acres when you exclude that Almond acreage. Adjusting the Almond area
possible and probable reserves, Denbury's total Bakken
3P reserves will still be in excess of approximately 300 million barrels of oil.
- 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 Oil & Gas Corp (KOG) - Kodiak Oil & Gas KOG - Bakken Shale/Three Forks Development Update - Kodiak’s four operated
drilling rigs are presently drilling ahead on multi-well drilling pads. Two rigs are drilling in McKenzie County, and two
rigs are drilling in Dunn County. The Company anticipates that the fifth operated drilling rig will be mobilized to McKenzie
County when construction of the rig is completed in the fourth quarter of 2011.
As previously announced, the Company’s
completion activities are progressing according to schedule, and Kodiak expects to complete or commence completion operations
on 10 gross and 7.5 net operated wells in the Williston Basin during the third quarter of 2011, including the Koala wells
noted below. In addition, the Company expects to participate in the completion of four gross (2.0 net) non-operated wells
in the third quarter of 2011.
McKenzie County, N.D. (79,000 gross and 50,000 net acres)
In
the Koala project area in McKenzie County, fracture stimulation procedures were completed on two gross wells (1.0 net) during
early July. Oil from these two wells is currently being trucked and natural gas is being sold into the pipeline.
Bakken
producer records initial production (IP) rate of 3,021 BOE/d
The Koala #3-2-11-13H well [Kodiak
operated – 53% working interest (WI) /43% net revenue interest (NRI)], a 8,061-foot horizontal lateral, was successfully
completed in 21 stages in the middle Bakken Formation. During a 24-hour producing period, the well recorded production of
2,514 barrels of oil (BO) and 3.0 million cubic feet of natural gas (MMcf), or 3,021 barrels of oil equivalent (BOE). Kodiak
completed the 24-hour production test utilizing an average 36/64” choke with average flowing surface pressure of 1,787
psi. Since coming online, the well had cumulative production of 9,145 BO and 10,804 MMcf, or 10,946 BOE in the first seven
days of production while continuing to recover frac load during well flow back.
Bakken producer records
IP rate of 3,412 BOE/d
The Koala #3-2-11-14H well (Kodiak operated – 52% WI /42% NRI), a
9,450-foot horizontal lateral, was successfully completed in 24 stages in the middle Bakken Formation. During a 24-hour producing
period, the well recorded production of 2,816 BO and 3.6 MMcf, or 3,412 BOE. Kodiak completed the 24-hour production test
utilizing an average 34/64” choke with average flowing surface pressure of 2,538 psi. Since coming online, the well
had cumulative production of 10,371 BO and 12,824 MMcf, or 12,508 BOE in the first seven days of production while continuing
to recover frac load during well flowback.
Dunn, Mountrail and McLean Counties, N.D. (57,000 gross and
34,000 net acres)
Surface facilities have been constructed on four gross operated wells (3.0 net), with
fracture stimulation scheduled to commence in August 2011. These wells are on a four-well pad and are scheduled to be completed
consecutively. Oil, gas and water pipelines have been constructed into this location and production from the four wells should
flow immediately into the pipelines upon completion of the wells.
Kodiak also continues to participate in non-operated
drilling and completion operations in Dunn County. At present, three gross (1.5 net) non-operated wells have been completed
during the third quarter of 2011. These wells have just been turned to production with no reported initial production rates
at this time. Completion operations are currently underway for an additional one gross, (0.5 net) additional wells. These
wells are located on lands within an area of mutual interest (AMI) in Dunn County, where Kodiak owns a 50% working interest.
Exxon Mobil continues to operate two rigs in the AMI and Kodiak expects a similar level of drilling and completion operations
to continue through the end of the year.
ConocoPhillips COP - ConocoPhillips (COP) Bakken Shale Update - In the Bakken, COP
is going from 10 to 15 rigs and production is about 18,000 barrels of oik per day. ConocoPhillips (COP)
holds their leases in the Bakken on a long-term basis and don't need to do drilling there in order to maintain our acreage
position. So we're taking a very measured approach there. We don't want to get ahead of infrastructure in the Bakken. So you'll
see us continue to ramp up our activities there. They're good strong return projects
Occidental Petroleum OXY - Occidental is active in the Bakken Shale Oil Field - Two years ago, we went into
North Dakota with a modest amount of acreage in the oil-rich Bakken and Three Forks Formations of the Williston Basin. Now we have expanded our position in the area to
over 200,000 acres by purchasing about 180,000 net contiguous acres from a private seller for about $1.4 billion. We expect
to grow our production in the Williston Basin from these properties to about 30,000 BOE per day over the next five years.
- SM Energy SM - SM Energy (SM) Bakken Shale Update - SM Energy is currently operating 3 drilling rigs in the Williston Basin. The
current focus of this program is the Bakken formation in the Company's Raven prospect in McKenzie County, North Dakota and
the Three Forks formation in the Company's Gooseneck prospect in Divide County, North Dakota. The Company is also participating
in a number of non-operated wells in both of these areas. During the third quarter of 2011, the Company was able to re-establish
nearly all production it had previously shut-in due to regional flooding. In conjunction with production restoration, the
Company was able to ramp up drilling and completion activity as these issues subsided.
The Company plans to continue operating
3 drilling rigs for the remainder of 2011 and recently committed to a new-build rig contract to expand its program to 4 rigs
in 2012.
Murphy Oil (MUR) - Murphy Oil (MUR) Bakken Shale Update - In Southern Alberta, our actual Bakken
appraisal program continues, with 4 wells drilled and the fifth expected to spud shortly. Two wells are now producing in line
with expectations, a third well is under evaluation and the fourth well is awaiting completion. For us, certainly, identification
of the sweet spots, where we can expect a tight well to produce 200 barrels of oil a day with an EUR [ph] somewhere in the
200,000 to 250,000 barrels is key, and our program is focused to that end. We now plan to drill up to 8 wells this year.
Samson Oil & Gas SSN - Samson Oil & Gas SSN has a small amount of acreage in the Bakken Shale and has announced some positive drilling
results in 2011. North Dakota – Williston Basin – North Stockyard Project (Williams County) – Mississippian
Bakken oil - Samson 31% Average Working Interest in 6 sections - Samson is pursuing an infill Bakken program, which would
see an additional four development wells drilled within the field. In addition Samson is looking to drill an appraisal well
to evaluate the production performance of the Three Forks Formation.
North Stockyard Project Samson has four producing wells and two wells waiting fracture stimulation
treatment of the Bakken formation in this project: These wells are located in Williams County, North Dakota, in Township 154
N Range 99 W. The Harstad #1-15H well (34.5% working interest) averaged 10.5 BOPD net (40 BOPD and 3 Mscf/d gross) for
the quarter from the Mississippian Bluell Formation. The well has performed as expected. The Leonard #1-23H well (10%
working interest, 37.5% after non-consent penalty) averaged 10.5 BOPD net (61 BOPD gross and no gas reported) during the quarter.
This well was drilled as a horizontal lateral into the highly productive middle member of the Bakken Formation in Williams
County, North Dakota. To date, the Leonard #1-23H well has produced gross volumes of approximately 73 MSTB and 78 MMcf. The Gene #1-22H well (30.6% working interest) was completed as a 5,500 foot horizontal well in the middle Bakken Formation.
The Gene well averaged 38.6 BOPD (164.5 BOPD and 252 Mscf/d Gross) during the quarter. To date, the Gene #1-22H well has produced
gross volumes of approximately 74 MSTB and 92 MMcf. The Gary #1-24H (37% working interest) was completed in September
using 20 frac stages. The well has averaged 117.9 BOPD net (416 BOPD and 634 Mcf/D gross) during the quarter; and has averaged
30 BOPD more than the Gene well over the first 100 days of production. To date, the Gary well has produced gross volumes of
approximately 45.8 MSTB and 66.9 MMcf. The Rodney #1-14H (27% working interest) was drilled in August and is currently
waiting on a frac crew. Earl #1-13H (32% working interest) well was drilled in October and is currently waiting on a
frac crew. The Harstad #2-15H well will be the sixth Bakken well in our acreage and will be the next well in the North
Stockyard Field in which Samson has an interest. A spud date has not been set.
GeoResources GEOI - On September 25, 2010, we initiated drilling on our Williams County acreage with the Carlson 1-11H well, a Middle Bakken
test in Section 11, T157N-R103W. The initial location is a 640 acre drilling unit and we have a 47.5% working interest.
We also plan to drill two 1,280 acre spacing units immediately following the Carlson well. Our working interests in these
locations are 34% and 35%, respectively.
We have acquired approximately 50,000 net leasehold acres in an AMI covering
about 115,000 acres and as mentioned in prior releases, brought in industry partners to participate in development. As operator,
we retained a 47.5% working interest, representing approximately 24,000 net acres. Assuming full development on a 1,280 acre
spacing unit basis, we have a majority interest and control about forty (40) units and have working interests in another forty-two
(42) units. Where we have a minority interest in a spacing unit, we will continue to focus on increasing our interests; thereby
increasing the likelihood that we will be the designated unit operator.
BAKKEN SHALE NON-OPERATED To date,
in our non-operated program located in Mountrail and adjacent counties, we have participated in 72 wells drilled by our primary
operator, Slawson Exploration, with a 100% success rate. In addition, we own minor working interests in numerous wells
within the Bakken/Three Forks play. Slawson is currently running three drilling rigs and we continue to acquire
additional acreage and well interests, when reasonably available.
MONTANA - Our first Bakken well in Montana, the Renegade
#1-10H has been drilled and is waiting on a frac. The well was drilled in the Middle Bakken on a 640 acre unit. The well is
located on our 2,920 gross acre Rip-Rap prospect in Roosevelt County, Montana in Section 10, T26N-R59E. We have a 25%
working interest in the well and prospect.
Triangle Petroleum (TPLM) - Triangle Petroleum Corporation (AMEX:TPLM)is a growth-oriented oil and gas exploration and development
company with approximately 83,500 net acres in the Williston Basin targeting the Bakken Shale and Three Forks formations.
North Dakota
In North Dakota, Triangle
has acquired approximately 29,000 net acres and is currently directing capital towards its operated program in the Rough Rider
area of McKenzie and Williams counties. The development program encompasses a de-risked area of the play with industry activity
taking place within adjacent drilling units. In 2012 the company expects to drill 12-15 gross (6-7 net) operated wells with
batch completions set to begin mid-2012, marking the first production volumes from the operated program. The non-operated
program is expected to generate 3-4 net wells over the course of the year. Given the company's emphasis on efficiency and
cost, drilling locations are being developed on multi-well pads which condenses drilling, completion and production operations
while maximizing recovery of oil in place.
Montana
In Montana, Triangle has acquired approximately 54,500 net acres in Roosevelt and Sheridan counties. The position
is largely contiguous and lies on the northwestern flank of the Williston Basin, adjacent to the Elm Coulee Field. Driven
by geologic modeling and control from vintage producing wells, the company was an early mover in the region which allowed
it to secure attractive leasehold terms.
While this region of the basin is primarily undeveloped,
permitting and drilling activity by the industry continues to converge on Triangle's acreage position. Benefiting from protracted
leasehold terms, the company does not plan on deploying capital to this area over the near term, preferring other operators
de-risk the area before committing resources.
Rosetta Resources ROSE - Alberta Basin Bakken Oil Program - During the second quarter, the Company perforated
several intervals and conducted vertical tests in two of the 2009 wells that confirmed the presence of oil-saturated Banff,
Bakken, Three Forks and Nisku intervals. The Company also added acreage during the quarter and now holds 291,000 net acres
in the play, an increase of about 50,000 acres from year-end 2009.
The recent vertical tests confirmed the presence of
movable high quality oil. Based on the results of these tests from zones of interest, Rosetta now intends to move a rig to
the field to begin an eight well vertical program focused on testing the play across its large acreage position. The Company
believes these vertical wells represent the most cost-effective and technically prudent approach to assessing the commerciality
of the play. As this exploratory program is carried out, the Company will retain the discretion to conduct incremental operations
that will serve to optimize future drilling and completion activities, including drilling and completing horizontal wells.
In commenting on the Alberta Basin Bakken play, Limbacher noted, "We think it makes sense to continue funding
our efforts to establish commerciality in this unique play. Our stated plan is the most cost-effective and prudent way to
test this play and it is consistent with our overall approach to the business. Like the early days of the analog play in the
Williston Basin, we are committed to doing the essential science that these plays require, which takes time."
American Oil & Gas AEZ - American Oil & Gas Inc. (NYSE Amex: AEZ) announces that the Bergstrom 15-23H well, located in T156N-R98W Sections 14
and 23 in Williams County, ND produced 3,049 barrels of oil equivalent (2,395 barrels of oil and 3.9 MMCF of natural gas)
from the Bakken formation during an early 24 hour flow back period. The approximate 9,410 foot lateral in the Bakken formation
was fracture stimulated with 36 stages. American owns a 95% working interest in this well.
Unit Corp UNT - In the Bakken play in North Dakota, Unit owns a 25% working interest in the Marty #1-20 which is
currently flowing back after fracture stimulation at rates of approximately 1,500 barrels of oil per day and 1.6 MMcf per
day. The well was drilled with a 5,736’ lateral and fracture stimulated in 15 stages. This is the second high volume
oil well in the Williams County, ND Stockyard Creek Prospect where Unit owns approximately 11,500 gross (2,700 net) acres
and expects to have one drilling rig operating during the remainder of 2010. In McKenzie County, ND, Unit owns a 16% working
interest in the Dodge #4-6/7 HR which was recently completed at rates of approximately 2,465 barrels of oil per day and 1.6
MMcf per day. The well was drilled with an 8,846’ lateral and fracture stimulated in 24 stages. Unit owns approximately
27,000 gross (5,400 net) acres in the Antelope Prospect and anticipates one rig drilling for the rest of this year.
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.
Concho Resources CXO - Concho Resources (CXO) Bakken Shale - In March 2011, the Company closed on its previously announced divestiture of its
non-operated Bakken assets for $196 million. Proved reserves associated with the Bakken assets as of December 31, 2010 were
approximately 8 MMBoe. First quarter 2011 production associated with the Bakken assets was approximately 1,400 Boepd. Excluding
this divested production, first quarter 2011 total Company production would have been approximately 5.1 MMBoe.
Quicksilver Resources KWK - In the Southern Alberta Bakken Basin of northern Montana, the company also has rights to approximately
160,000 gross (119,000 net) acres in Glacier and Toole counties that are primarily held by production from the Cutbank field.
The company believes that this acreage is also prospective for oil from the Bakken formation.
Williams Company WMB - Williams Company WMB Bakken Shale - Williams is currently operating three rigs
in the Bakken shale and expects to double its level of drilling activity to six rigs by early 2012. Second-quarter 2011 production
in the Bakken more than tripled over the first-quarter 2011, from approximately 1,800 to 5,500 barrels of oil equivalent per
day.
Linn Energy (LINE) - Linn Energy LINE announced in 2011 that they have entered the Bakken Shale Oil Play - The Company signed a definitive purchase
agreement to acquire certain oil properties in the Bakken play from Concho Resources for a contract price of $196 million,
subject to closing conditions. The Company anticipates this acquisition will close on or before March 31, 2011. The properties
are expected to add current net production of approximately 1,350 Boe/d (94 percent oil), proved reserves of approximately
8 MMBoe (83 percent oil) and more than 400 potential oil drilling locations. "The Bakken acquisition provides LINN
with a foothold position in a premier oil basin with vast resource potential. The non-operated nature of the deal allows us
to accelerate our knowledge in the play from high-quality operators and reduces execution risk in the development of more
than 400 highly economic drilling opportunities. Finally, the deal positions us in another oil basin with numerous mature
producing assets providing LINN with the opportunity for further consolidation,"
Abraxas Petroleum (AXAS) - Abraxas Petroleum (AXAS) Bakken Shale Operations Update - In Dunn, McKenzie and Sheridan Counties, North Dakota and Richland
County, Montana, eight non-operated horizontal wells, targeting the Bakken or Three Forks formation, in which Abraxas owns
a working interest are currently in progress. Four wells are waiting on completion and four are flowing back after each well
was completed with a 24 stage fracture stimulation. Abraxas' working interest ranges from 1.8% to 36.2% in each of these wells.
Since January 2010, Abraxas has elected to participate in 16 gross (0.97 net) non-operated wells in the Bakken / Three Forks
play, three of which have yet to spud.
GMX Resources (GMXR) - GMX Resources (GMXR) Bakken Shale - The Company has successfully drilled and completed its first Bakken Petroleum
System well. The Wock 21-1-1H, located in Stark County, was completed within the Three Forks and had a 24 hour IP test rate
of 450 BOE. The Wock 21-1-1H is projected to have a peak 30 day average production of 275-300 BOE pending lateral cleanup
and placing the well on pump. The expected EUR is 400 MBOE.
The Company has successfully drilled its second Three
Forks Hz well. The Frank 31-4-1H was drilled in Sections 4 & 9 Township 148N Range 98W in Stark County, North Dakota and
reached a total depth of 21,058' with a Hz lateral length of 10,183'. The Frank 31-4-1H had a spud to TD of 38 days which
represents a nine day improvement in the drilling of the Wock 21-1-1H. The Frank 31-4-1H is scheduled for a 40 stage completion
in the month of November 2011.
The Company has spud its third operated well in the Bakken Petroleum System in
Billings County, North Dakota. The Evoniuk 21-2-1H is located in Sections 2 & 11 Township 142N Range 100W and was spud
on October 25, 2011. The Evoniuk 21-2-1H will target the Three Forks and the well is expected to reach a total depth of 19,850'
and a targeted lateral length of 9,500'.
We have received permits for three additional locations in McKenzie
County, North Dakota and ten additional permits are in process. We expect to spud the Akovenko 24-34-1H well located in Sections
3 &1 0 Township 146N Range 99W in McKenzie County in the fourth quarter.
We expect to operate 52 (1,280-acre)
units in North Dakota, with working interests averaging more than 45%. We anticipate working interests to average 50% to 75%.
The 52 units have a potential for 208 locations, which is a twenty rig-year inventory development program.
The
Company has elected to participate in four non-operated wells targeting the Middle Bakken and Three Forks zones. Two of those
wells have reached TD and two are currently drilling. Our working interests range from 2% to 25% and average 14%. We expect
to participate in six additional non-operated wells that have been permitted with an average working interest of approximately
4%.
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.
Stone Energy SGY - Three vertical pilot holes have been drilled in northern Montana this year by Stone (35%
W.I.) and operator Newfield in the Alberta Bakken play. A horizontal lateral has been drilled from one of the pilot
holes, and is currently being fractured and tested. Horizontal drilling in the other two pilot holes is scheduled to
commence during the fourth quarter. Additionally, an exploratory oil well was spud this month in the Paradox
Basin where Stone has 30,000 net acres. A second well is scheduled to be drilled in early 2011.
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.
- 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. Bakken – Mountrail County, North
Dakota
The company owns approximately 16,000 net acres of leaseholds targeting the middle
Bakken and Three Forks formations. The drilling of 15 operated and participation in various non-operated wells is expected
for this year with approximately $60 million of capital expenditures. Plans include drilling 17 wells or more annually in
2012 and 2013.
Over 50 future gross well sites have been identified. Estimated gross ultimate
recovery per well is 250,000 to 500,000 Bbls.
Bakken – Stark County, North
Dakota
The company holds approximately 50,000 net exploratory leasehold acres, targeting the
Three Forks formation. The company has commenced drilling and expects to drill 3 operated wells on this acreage over the next
several months and to participate in various non-operated wells with capital of approximately $30 million this year.
Based on well results, the company plans to drill 6 or more wells annually beginning in 2012.
Based on 640-acre spacing, the acreage holds over 140 potential gross well sites. Estimated gross
ultimate recovery rates per well are 250,000 to 400,000 Bbls.
Bakken – Richland
County, Montana
The company holds approximately 20,000 net exploratory leasehold acres, targeting
the Three Forks formation.
Approximately 100 potential gross well sites have been identified
on this acreage. Estimated gross ultimate recovery rates per well are 250,000 to 400,000 Bbls.
Expect
to spud first appraisal well in early 2012.
Voyager currently controls approximately
24,000 net acres in the Williston Basin, primarily in Williams and McKenzie Counties, North Dakota and Richland County, Montana.
Voyager currently has a working interest in 23 gross wells, 6 of which are producing, 6 of which are in the completion process
and 11 of which are drilling or preparing to drill. At the end of 2010, Voyager had spud 18 Bakken wells, in line with their
previous estimates. In 2011, Voyager expects to spud approximately 50 gross and 5 net Bakken wells. J.R. Reger, CEO, commented:
"2010 was an excellent first year for Voyager, which should provide the foundation for growth in 2011."
J.R.
Reger continued, "We believe the outlook for Voyager in 2011 is strong. We intend to continue our focus on acreage acquisition,
development and working with excellent industry operators. Voyager is poised to make significant progress on its operations
goals in the most exciting and economic oil resource play in the United States."
