Also, update on Fidelity (MDU) permits issued since 2010.
From linked press release above:
Fidelity reached a new Bakken production record of over 3,500 net barrels of oil per day from its operated wells. Including its non-operated production, the peak rate is now over 5,000 net barrels of oil per day.Other data points from the press release:
The company also recently acquired an additional 27,000 acres of leaseholds in Richland County, Montana. Fidelity now holds approximately 57,000 net leasehold acres in Richland County, all acquired in the past year. This acreage position is a contiguous block immediately adjacent to the prolific Elm Coulee field. The company has spud its first of two appraisal wells. Depending upon results, a continuous drilling program utilizing one to two rigs is being planned.
- new wells represent a 44-percent improvement over ALL previous wells drilled by Fidelity
- encouraging results in Stark Count, will add a second rig to this prospect
“We now have the acreage, drilling rigs and services as well as the organizational capability and experience to sustainably grow our Bakken production,” said Kent Wells, president and chief executive officer of Fidelity. “Our systematic approach of appraising and continuously improving our drilling and production operations is starting to pay dividends and we have only just begun.”The boom began almost five years ago.
With the latest acreage acquisition, Fidelity holds a total of approximately 124,000 net leasehold acres in the Bakken area with plans to invest approximately $160 million in the region this year.
