Voyager Provides Operations Update -- Record-Setting BEXP Well -- Bakken, North Dakota, USA

Link here.

NOTE: another company that estimates six (6) wells per 1280-acre spacing unit.

Datapoints:

• Bakken net acreage now up to 27,000 net acres (last report, 24, 000 net acres) -- ND and MT
• In 2011 (to date) Voyager has acquired 3,133 net mineral acres at an average price of $1,239 per acre in the Williston Basin targeting the Bakken and Three Forks formations
• Assuming six wells per 1,280-acre spacing unit, this acreage position will allow Voyager to participate in approximately 126 net wells

Highlight: VOG participated in a record-setting well (operator: BEXP)

Brigham Exploration, one of Voyager's operating partners, recently announced the results of the Johnson 30-19 #1H well in Richland County, Montana. The Johnson well was reported to produce 2,962 barrels of oil equivalent "BOE" during its early 24-hour peak flow back period. Voyager currently controls approximately 11,000 net acres within 10 miles of the Johnson well including 5 operable sections.

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.

In the Bakken:

• Voyager has spud 27 gross wells in 2011 bringing the total well count to 45 wells targeting the Bakken/Three Forks formations. 
• Currently, 1.72 net Bakken/Three Forks wells are drilling, completing or producing.
• Voyager expects to participate in 70 gross wells and 6.0 net wells in 2011 targeting the Bakken/Three Forks.