Whiting Petroleum Corporation’s production in the third quarter of 2011 totaled a record 6.50 million barrels of oil equivalent (MMBOE), 83% oil/natural gas liquids and 17% natural gas. The daily average production rate was 70,675 barrels of oil equivalent (BOE), an increase of 10% over the 64,120 BOE per day rate in the second quarter of 2011 and a 7% increase over the 66,120 BOE average daily rate in the third quarter of 2010.
Wow, wow, wow, ---- look at the cost per well -- compare to Newfield's comments:
Our well economics continue to remain robust. From January 2009 through September 30, 2011, we completed 115 Bakken wells with an average first six months production of 97,000 BOE. This average is 13,000 BOE higher than the second ranked Bakken operator and 50,000 BOE better than the average of the next 20 operators. We are currently drilling and completing wells in the Sanish field for approximately $6.0 million. Outside of Sanish, in other North Dakota areas, our completed well costs are currently running between $6.0 and $8.0 million and declining as we move into development mode.
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