Rosetta Resources (ROSE) reported an update on the development of the Bakken formation during the first six months of 2011. The company is active in the Southern Alberta Basin in Montana and has 300,000 net acres under lease.
Rosetta Resources completed eight vertical test wells during the first half of 2011, bringing the total number of vertical wells drilled and completed to eleven since entering the play. These wells have all encountered oil and natural gas from multiple zones and underwent a single stage vertical completion operation.
Rosetta Resources reported that the test results varied and that “some areas of the play will have a higher chance of commerciality than others.” The company reported that average production from the Bakken in some of these vertical wells was only 22 barrels of oil per day during the first seven days.
Rosetta Resources also started a horizontal drilling program in the Southern Alberta Basin during the second quarter of 2011. The company has spud the first well and is currently drilling the second and third wells, with another four horizontal Bakken wells planned before the end of 2011.