Thursday, January 13, 2011

BEXP Well "Passes The Test" For Increased Drilling -- Bakken, North Dakota, USA

Two nice BEXP wells being reported, both in the Williston area, the "heart of the Bakken."
A lot of folks have been waiting to see how yet another "Brad Olson / Olson" well would do.

From an earlier post, posted November 1, 2010:
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.
I don't know about others, but somehow this well seems to have "passed the test."

By the way, #19085, BEXP, Brad Olson 9-16 3H, sits right next to the "9-16 2H," just 158 feet to the west.

As long as I'm starting to ramble:
Although BEXP is increasing their acreage in the area, much of the prime locations have been purchased. This has increased the value of these properties which also increases BEXP's value. It has been rumored that conglomerates such as COP and XOM are looking around to purchase some of the smaller companies before lease values increase. -- previously linked.
In T154-R102W, there is currently (January 13, 2010) a string of interesting wells, running west to east. Distance from westernmost well to easternmost is 3.75 miles. The area involved is the equivalent of five 1280-acre units. If BEXP were to put six wells in each 1280-acre unit, that would be 30 wells (6 x 5), compared to the ten they have now. Here are the wells (they are all long laterals):
  • 18955, 2,278,  BEXP, Weisz 11-14 1-H
  • 17513, 1,160, BEXP, Olson 10-15H 1-H
  • 18175, 1,810, BEXP, Brad Olson 9-16 1-H
  • 19086, 2,472, BEXP, Brad Olson 9-16 2H, Painted Woods, Bakken, 22K first month
  • 19085, confidential, BEXP, Brad Olson 9-16 3H
  • 20178, confidential, BEXP, Erickson 8-17 3H
  • 18534, 2,314, BEXP, Mortenson 5-32 1-H
  • 16276, 156, BEXP, Erickson 8-17 1 H, status date: August, 17, 2006, first of the ten in this string
  • 20171, confidential, BEXP, Erickson 8-17 2H
  • 18439, 2,654,  BEXP, Jack Erickson 6-31 1-H
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