In 2011 Voyager has acquired 4,123 net mineral acres at an average price of $1,239 per acre in the Williston Basin targeting the Bakken and Three Forks formations.
Voyager controls approximately 28,000 net acres targeting the Bakken and Three Forks as of May 15, 2011. We anticipate that the industry will eventually drill as many as six wells per 1,280 acre unit which would equate up to 131 net wells on our current leasehold. Most of the newly acquired acreage is located in Richland County, Montana where Brigham Exploration announced the Johnson 30-19 #1H discovery. The Johnson well was reported to produce 2,962 barrels of oil equivalent "BOE" during its early 24-hour peak flow back period.
Based on our current and forecasted drilling activity, Voyager expects to average 700 barrels of oil equivalent "BOE" per day by the end of 2011. The drilling and production guidance is in line with previous estimates.
Tuesday, May 17, 2011
Voyager Oil and Gas: Operations Update and Guidance -- Bakken, North Dakota, USA
Link here.
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$$$$$$$!
ReplyDeleteUnless oil goes into free fall below $80/bbl, I think we're gonna see some blow-out numbers for the 2Q11 and 3Q11.
ReplyDelete2H11 should be very, very good -- again, if oil does not go into free fall below $80/bbl.
I think a lot of folks unfamiliar with the severe weather in the Bakken in 1Q11 do not understand that many companies had production in only two of those three months, maybe less. No matter how high oil got in March, no production is still zero dollars.
Now, with production every day of the month, $90 oil is very, very nice.
In addition, hedging and mark-to-market losses in 1Q11 were anomalies and one-time events. Regardless, these losses were paper losses.
With speculators clearly in control of our nation's oil markets. As long as oil stays above $60 a barrel, the U.S. oil shale companies are in the sweet spot to make a ton of money.
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