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TheBakkenMagazine is reporting:
Halcon Resources Corp. has modified the drilling and completion strategies it’s deployed in the Williston Basin and the results are impressive. Through its recent operational update, the Houston-based energy firm outlined its latest success in the Fort Berthold area. The company has transitioned to batch pad drilling and changed its completion methodology to plug and perf methods along with the use of ceramic proppants. Halcon has also increased the proppant volume per lateral foot, increased fracture stage density and started simultaneously fracking wells.
In the company’s three most recent wells, the new completion methods have created a 38 percent improvement. And, the most recent well drilled and completed by the company recorded an initial production rate of 3,060 barrels of oil per day, the highest initial production rate of any company-owned well in the Bakken formation. The record well was the first drilled on a two-well pad. The second well on the pad is currently flowing back while the frack plugs are being drilled out. The well is producing 2,732 bopd, according to the company.
By the end of 2013, the company believes well costs will decrease by 10 percent, reaching $9 million, all based on pad drilling, centralized production facilities and the continued use of the new completion techniques recently deployed.