BEXP: Montana Looking As Good As North Dakota -- Increased De-Risked Acreage in Montana -- Focus on Smart Pads -- Cutting Frack Time In Half -- Some Very Nice Wells -- Bakken, North Dakota, USA

Link here.

The press release calls this the "Montana Bakken" which can be confusing for newbies. There are two plays going on in Montana right now: the Williston Basin Bakken, and the (Southern) Alberta Basin Bakken (I hope I have that right). 

The "Montana Bakken" referred to here by BEXP is their prospect of the Williston Basin just across the state line. This is the eastern counties, and maybe even more specifically, the northeastern counties of Montana abutting against the western counties of North Dakota.

The Alberta Basin in Montana is much farther west -- in central Montana south of the Canadian border.

Data points:

• Two new Montana wells have de-risked BEXP's 33,500 acres in eastern Montana; increase from previously announced 24,400 net acres
• Total de-risked Williston Basin acreage: 235,200 net acres (note: BEXP total acreage about 380,000 net acres)
• At least 794 net drilling locations remain
• Storvik 7-6 1H: 2,066 (boe; early 24-hour peak rates; IPs will come in less); 34 frac stages
• Charley 10-15 1H: 1,069 (boe; early 24-hour peak rates; IPs will come in less); 30 frac stages
• To date: BEXP -- 79 consecutive long lateral high frac stage wells; average: 2,803 boe

Smart Pad Update

• Efficiency gained: 20%
• Seven rigs drilling Smart Pads
• To date, BEXP has completed 8 Smart Pads
• BEXP: 70% of rest of 2011 drilling will be Smart Pads
• Will acquire 2 additional specially built walking rigs in 1Q12; two more by July, 2012
• Option to add 4 more less efficient conventional rigs upon receipt of the walking rigs

Zipper fracks

• A new term for me; see comment below. Apparently it's plug and perf technique used on multiple wells on same pad, moving things along more quickly
• To date, BEXP has completed 6 zipper fracks
• 6 stages per day; 5 days per well in one case; another case, 8 stages/day --> 4 days/well; in comparison, conventional fracking has taken BEXP 9 days

Working with BHI and Halliburton to compare methods

Brigham is currently completing wells that have approximately 15 stages, or half of the well, with new frac sleeves installed. The remaining half of the wellbores will be completed with perf and plug and production from these wells will be compared to direct offset wells that were completed entirely with perf and plug. 

BEXP working to reduce infrastructure problems related to bad weather: increasing water gathering lines, to include disposal