The link takes you to a great article, but the headline is a bit misleading. The headline is accurate based on my data, but the writer doesn't provide much data other than anecdotal examples of great wells. If I get a chance, I will provide data of how many permits have been issued for McKenzie wells compared to Mountrail wells in the past six months.
For now, suffice it to say, this is what I'm seeing:
- Minimal EOG drilling in the Parshall; it appears the company is holding their leases on production; "every" section has one well
- Whiting is maxing out the Sanish; using it as a cash cow to fund other operations; this will also give us a good idea how much the formations communicate with each other, and whether 1000-foot spacing is adequate with regard to horizontal fractures; is there any merit in putting in additional wells but drilling against the grain (i.e., old well, heel-to-toe; new well, toe-to-heel)
- Lots of activity in the Williston area but mostly on permits issued some time ago
- Huge number of permits being issued in McKenzie County
- Dunn and Stark being developed in a methodical, but at a much slower pace than McKenzie and Williams
CLR: Continental is the largest acreage holder in the Bakken with 901000 net acres. This is more than double ExxonMobil's 450,000 net acres it acquired from its merger with XTO. 72% of this acreage is in North Dakota. 68% of its Bakken/Three Forks acreage is de-risked. Continental is the number one oil producer in the Williston Basin. Continental also has Red River production which is also in the Williston Basin. Its Bakken production grew 51% year over year from the second quarter of this year. 49% of Continental's 421 million Boe proved reserves are in the North Dakotan Bakken. It has 23 operated rigs in the Bakken/Three Forks. Continental's EURs for North Dakota Bakken wells is 603 MBoe. Keep in mind this is an average as several other competitors estimate EURs much higher.
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