WLL, along with it many other holdings, has 680,137 net acres in the Bakken (Williston). In the Sanish (Bakken) field of the Bakken WLL estimates 16-23 MMBOE per 1280 acre unit. In the Sanish (Three Forks) WLL estimates 12-16 MMBOE per 1280 acre unit. It is the second biggest oil producer in the Bakken behind EOG, which has drilled 74 more wells (166 to 92 total wells). The table below gives an idea of WLL’s value as of Dec. 31, 2010. The numbers have significantly improved since then. The chart below has information about WLL’s reserves.My gut feeling is that production numbers for 3Q11 are going to be huge (Don was the first to suggest that to me. I think he is right.).
But look at those numbers for Whiting in the Sanish: 40 million boe per two sections. That is simply huge.
For newbies: Whiting has a very interesting business plan: maximize drilling in the Sanish to pay for de-risking southwestern North Dakota. Whiting has two operations centers in North Dakota: one centered in the north (west of Parshall) and one centered in the south, near Belfield.
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