GeoResources (GEOI) issued an update on its operational activities in North Dakota and Montana where the company is developing the Bakken formation on its acreage.
The Siirtola #1-28-33H well produced 920 barrels of oil equivalent (BOE) during a 24 hour period, consisting of 840 barrels of oil and 480,000 cubic feet of natural gas. The well is still flowing back and the company expects the oil cut to increase with time. The Siirtola #1-28-33H Bakken well is currently shut in due to severe weather.
GeoResources reported that the Carlson #1-11H well has been completed and produced an average of 350 barrels of oil per day during a recent five day period. The company is currently conducting hydraulic fracturing operations on the Anderson #1-24-13H well.
GeoResources is currently drilling the Olson #1-21-16H Bakken well, the company’s first operated well on its acreage in Montana.