Wednesday, March 13, 2013

Surge Corporate Presentation, Spearfish -- Data Points on Spearfish Cross-Border, North Dakota - Canada

For those interested in the Spearfish play, cross border -- Canada / United States.

March, 2013, corporate presentation for Surge Energy.

These data points from the presentation are ONLY for Surge in the Williston Basin.

Surge (Williston Basin, Spearfish, Canada and North Dakota):
  • 160 million bbls gross/108 million bbls net (36 degree API)
  • current oil recovery: less than one percent (1%)
  • continued technical review of 85,000 net acres of undeveloped land in North Dakota
  • total development in Williston Basin (Canada and North Dakota): 354 gross/231 net
  • remaining inventory: 310 gross / 198 net (just beginning)
  • based on 24 hz wells/section in Waskada (Canada) and 20 hz wells/section (North Dakota)
  • potential exists for another 80 gross / 25 net Spearfish locations as a result of recent offset success to the SE of Surge's land
North Dakota:
  • 100% drilling success in North Dakota
  • 44 hz multi-frac wells drilled to date
  • Surge: 17 gross / 10 net during 2012 -- 100% success rate
  • average well cost reduced to $1.5 million
  • in 2013, will test Spearfish and Madison with vertical exploration wells

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