Oops! BEXP Does It Again!

You can't deny that BEXP adds some excitement to the Bakken on an otherwise typical Bakken day (if you count another fifteen permits as a typical day - smile).

Today's BEXP announcements:

• 18896, 5,061, Clifford Bakke 26-35 1-H, 38-stage fracture, second highest IP in the Williston Basin, Ross Project Area; Alger oil field
• 18868, 4,169, Abelmann 23-14 1-H, 33-stage fracture; record initial production rate west of the Nesson Aniticline; Camp oil field, just south of Williston -- ten (10) miles south of the river on US Highway 85, and then east (left-hand turn) four miles.
• 19086, Brad Olson 9-16 2-H, 32-stage fracture; an Increased Density Pilot Project well; IP might be announced within 24 hours; Painted Woods, west of Williston; this is BEXP's first infill test west of the Nesson Anticline; by monitoring the well with a deployed microseismic array and monitoring continued well performance, BEXP hopes to delineate the potential to drill incremental infill wells beyond the currently envisioned three wells per spacing unit. If results indicate that four to six wells may be required to effectively drain spacing units, Brigham's de-risked Rough Rider drilling inventory could increase by approximately 120 to 360 net locations, which would represent a significant net asset value enhancement event. Subject to results, Brigham plans to commence additional increased density pilots in Rough Rider and Ross in the first half 2011, including four well density units.
• 19002, 2,417, Smith Farm 23-14 1-H, 32-stage fracture; Cow Creek field; two miles north of Williston, one-half mile west of US Highway 85.

Rigs

BEXP has six rigs in the Bakken [Rough Rider (3); Ross (2); and Roosevelt County, Montana (1)] and a seventh rig is expected to arrive in mid-November, approximately two weeks ahead of schedule. BEXP's eighth rig is expected to arrive in May, 2011. 

Comment

It should be noted that Whiting is putting in six to seven wells in each of its 1,280-acre spacing units in its Sanish oil field, so 4 - 6 wells in a BEXP spacing unit is not beyond the pale.