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
- 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
http://firstenergy.com/rsvp/form.php?form_id=164
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