Thursday, November 7, 2013

What The Success Of CLR's Hawkinson Unit Means: More Mega-Pads; Four Dedicated Rigs Drilling These Pads

From a Bank of America/Merrill Lynch report following CLR's 3Q13 earnings report:
With the successful initial performance at the Hawkinson Unit, CLR announced that
the first area of full development will be in the Antelope prospect area of McKenzie
and Williams counties. Over the next four to five years, it intends to drill 350 wells on
20 to 30 well pad locations. In 2014, it will have four dedicated rigs with plans to drill the Middle Bakken, TF1, TF2 and T3 on 1,320 ft interval spacing
350/25 = 14 wells/pad. 

Click here to get an idea of what a 14-well pad will look like

This is the screenshot of the CLR Hawkinson graphic from CLR's November 6, 2013, earnings presentation.

Double-clicking on the graphic will open it in another window allowing the user to zoom in.

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