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.
