bakken formation, page-2

Not sure where this is relative to EMR's.

Thursday July 10, 12:02 pm ET
Continental Resources' second Bakken shale well in North Dakota flows at high rate


ENID, Okla. (AP) -- Oil and gas producer Continental Resources Inc. on Thursday said a test of its second well in a promising area of North Dakota resulted in encouraging results.
News of the successful well sent shares to an all-time high of $76.80, before settling back a bit. In midday trading, to stock gained $8.10, or 12.4 percent, to $73.36.


Continental said initial results of the Mathistad 1-35H well, drilled into Bakken shale of McKenzie County, on July 4 flowed at an average rate of 1,095 barrels of crude oil equivalent per day.

On May 20, the company's first well in the formation flowed at an average initial rate of 693 barrels of crude oil equivalent per day.

The Bakken shale lies beneath parts of western North Dakota and eastern Montana, as well as the Canadian province of Saskatchewan.

In April, the U.S. Geological Survey estimated that technically recoverable crude oil in the North Dakota and Montana Bakken shale area at 3 billion to 4.3 billion barrels of undiscovered crude oil.