I've read quite a few articles this week about the N Dakota winter and the slow down affect on the oil industry. This one is no different.Still,these numbers are not to shabby.
Published Mar 28, 2011 E-mail Print
GeoResources, Inc. provided the following operations update.
Bakken Shale (Operated) We have drilled three Middle Bakken wells in Williams County, North Dakota and are currently drilling our fourth Middle Bakken well in eastern Montana. Our first operated Williams County well, the Carlson #1-11H, was drilled on a 640 acre spacing unit and has been completed as a Middle Bakken producer. The well tested at a 24-hour production rate of approximately 685 barrels of production daily ('BOPD'), through a 4' frac string, on a 29/64' choke. Harsh winter conditions delayed operations and we just recently placed the well on production. Average production was 350 BOPD and 316 barrels of water per day over a recent five day period of continuous production. We own a 47.5% working interest in the well. The Siirtola #1-28-33H has recently been fraced with 30 stages (18 sliding sleeve and 12 perf and plug) and was cleaning up with a 37% oil cut which should improve to 50% or more as seen in nearby wells. The well was flowing back at a rate of 840 BOPD and 480 MCFD, on a 26/64' choke through a 4' frac string, prior to being shut in due to severe weather and the resultant inability to transport oil and water. We are currently in the process of fracing the Anderson #1-24-13H. Our working interests in these 1,280 acre spacing unit wells are approximately 34% and 35%, respectively. We have moved the drilling rig to eastern Montana (details below) and we expect to move the drilling rig back to Williams County and pursue continuous development of our acreage by late April.
SSN Price at posting:
18.5¢ Sentiment: Hold Disclosure: Held
