Newfield Reports a "Personal Best" in the Bakken: 5,300 BOEPD - A Short Lateral

Link here: 2Q11 earnings report -- press release.

Of the recent completions, eight of the nine wells were super extended laterals and had an average lateral length of more than 9,500’. Average gross initial production (24-hour) from the nine wells completed in the second quarter was 2,100 BOEPD. The wells were drilled and completed for an average of approximately $9.8 million (gross).

Recent results include a “Company-best” – the Wiseness (sic) Federal 152-96-4-2H, which had gross initial production (24-hour average) of 5,200 BOEPD. The well has a 5,300’ lateral and was drilled and completed for approximately $5.9 million (gross). SHORT LATERAL, record production for Newfield.

The "Wiseness" is spelled "Wisness" at the NDIC site; it is still on the confidential list. It is in Westberg oil field; it is about a township in size, west of the anticline (I believe) and southeast of Williston, south of the river. 

Earnings:

For the second quarter of 2011, Newfield recorded net income of $219 million, or $1.62 per diluted share. Net income for the second quarter includes a net unrealized gain on commodity derivatives of $129 million ($81 million after-tax), or $0.60 per share. Without the effect of this item, net income for the second quarter of 2011 would have been $138 million, or $1.02 per share.

Bakken ops:

The Company has an inventory of 10 wells that have been drilled and are in various stages of completion. Newfield expects to complete a total of 13 wells in the third quarter of 2011.