BEXP: Record Well Completions -- Bakken, North Dakota, USA

Link here. And a lot more analysis here -- this could move the needle for BEXP investors.

The press release came out just in time for BEXP's 2:00 p.m. EST presentation at the IPAA oil and gas investment symposium today.

NOTE: in the data points below, it is noted that one of BEXP's new wells, the Johnson 30-19 1H, set a new Montana record of initial production. One can find the location of this Montana well by going to slide 35 of BEXP's April, 2011, corporate presentation. This is a very important well. It is located about 15 miles northeast of Elm Coulee field where the current Williston Basin Bakken boom began back in 2000. This confirms a new area sitting between Elm Coulee and Williston, North Dakota. On that slide, all the green dots in the lower left hand corner are in Elm Coulee.

The records

• North Dakota: Sorenson 29-32 2H, 5,330 boe, 38 frac stages
• Montana: Johnson 30-19 1H (Richland County, MT) -- Montana record
• 56 consecutive long lateral high frac stage wells in North Dakota with 24-hour peak flow back rate averaging 2,884 boe

Specifics

• Sorenson 29-32 2H,4,661; Ross project area in Mountrail County
• Supplants BEXP's Sorenson 29-32 1H as the record-holder for a BEXP IP
• Based on public information, BEXP has the four (4) highest IP rate Bakken wells
• Based on public information, BEXP has seven of the top 10 highest IP rate Bakken wells

SmartPads (BEXP simply calls them "smart pad designs")

• Wells drilled from same pad and simultaneously fracked
• Sorenson 29-32 2H and Cvancara 20-17 1H were first wells completed using SmartPad design

Williston Basin Update

• 4 operated rigs in Rough Rider, 2 in Ross, 1 in Montana; 8th rig to arrive in May

Fracking

• Will add two fully dedicated frac crews
• Estimates BEXP can frac 8 wells/month