Whiting's 2Q13 Corporate Presentation -- Some Interesting Data Starting To Fall Out -- The Fog Is Starting To Clear

The current corporate presentation can be found at Whiting's website.

Some numbers rounded.

Rocky Mountains production: 70,000 boepd.

Total primary net locations in the Bakken: 1,249
Total prospective net location in the Bakken: 663

The drilling plan remains the same as in the June, 2013, presentation. 

Current drilling program, identified primary locations:

• Southern Williston (Lewis & Clark, Pronghorn): 3 pronghorn sand/1280
• Western Williston (Cassandra, Hidden Bench, Tarpon, Missouri Breaks): 4 MB, 3UTF/1280
• Sanish (Sanish, Parshall): 3.5 MB, 3UTF/1280

Current drilling program, prospective locations:

Williston Basin New Objectives

Missiouri Breaks UTF: 3/1280
Hidden Bench Lower Bakken Silt/High Density Pilot: 4 Bkn Silt; 4MB/1280
Cassandra LTF: 4LTF/1280
Tarpon LTF: 3LTF/1280

Williston Basin Higher Density Locations

Pronghorn Sand Higher Density: 3 add'l pronghorn sand/1280
Sanish higher density and infill: 3 add'l MB/1280

 OOIP by zone/1280-acre spacing unit in million boe

Middle Bakken

• A Zone: 6
• B Zone: 7
• C Zone: 6
• D Zone: 11

Three Forks: 9

Summary, OOIP:

• Middle Bakken sub-total: 30
• Total Bakken shale sub-total: 19 (probably not much interest; < 2% recovery)
• Three Forks sub-total: 9

Total OOIP/1280-acre spacing unit in Williston Basin Bakken pool: 58 mmboe

Note: 

• 1) all zones not found throughout the Williston Basin
• 2) Whiting feels D Zone is underexploited

No comments for now. Simply some back-of-the-envelope calculations. 

• Subtracting out the Bakken shale sub-total of 19, back to 39 million boe/1280-acre spacing unit
• Recoverable, primary: 5% -- 1.95 million bbls/1280-acre spacing unit
• Seven wells/1280-acre spacing unit at 500,000 bbls oil EUR = 3.5 million bbls/1280-acre spacing unit