Even though Enerplus committed another $50 million to fund its Bakken operations, it cut its "two least efficient operated drilling rigs" and will run just two for the remainder of the year. It also raised its production forecast for the second time in three months on growing volumes from Fort Berthold and expects to average 83,500 barrels of oil equivalent a day in 2012.The linked story if full of updated data.
The $2.8-billion TSX-listed company acknowledged it's managing spending in the rest of its operations in North America to offset higher Bakken spending. It is not as if all the spending in the Bakken is even its idea.
Enerplus said its "non-operated activity has also increased significantly as our partners are drilling more than we originally anticipated."
As producers climb over each other to get a piece of the windfall more than 3,000 wells will be drilled in North Dakota this year.
Wednesday, August 22, 2012
Human Interest: Calgary Herald Looks At The Williston Basin Bakken
Link here.