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Thursday, January 27, 2011

BEXP Announces Record Year-End 2010 Proved Reserves; Four New High Production Wells

First the wells:
  • 19539, Lloyd  34-3 1H, 3,240, Poe field, northeast of Alexander, south of the river
  • 19369, Bratcher 10-3 1H, 3,206, Ragged Butte -- a bit northeast of Alexander, south of the river
  • 19176, M. Macklin 15-22 1H, 2,312, Cow Creek, a couple of miles directly north of Williston
  • 19389, M. Olson 20-29 1H, 1,936, Painted Woods, northwest of WIlliston, a "big" BEXP field
Now the rest of the story, the data points (numbers rounded) exiting 2010:
  • Year-end 2010 proved reserves increased 140 percent
  • Production, avg 4Q10: a record 11,000 boepd; 125 percent increase yoy; 34 percent sequential increase
  • To date, BEXP has completed 49 consecutive, long-lateral, high-frac stage Bakken and TF wells in North Dakota with an average early 24-hour peak flow back rate of 2,800 boe.
  • Year-end: replaced 1,400 percent of its estimated 2010 production volumes
For 2011, the data points:
  • Five operated rigs in Rough Rider; two operated rigs in Ross
  • Eighth rig expected to arrive in May, 2011
  • By mid-April, BEXP expects to add two fully dedicated frack crews
  • With additional frack crews, BEXP expects to complete eight wells per month

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