Rosetta Resources reported initial results from the company’s Bakken horizontal well program in the Southern Alberta Basin. The production figures seemed to disappoint investors who were expecting higher numbers.
Rosetta Resources has drilled and completed two wells into the Middle Bakken formation and reported initial production rates of 154 and 104 barrels of oil equivalent (BOE) per day on these two wells. The company is currently completing the third well and plans to drill and complete the final four wells of the program in 2012.
Rosetta Resources is also testing the resource potential of the Three Forks and Banff formations in the Southern Alberta Basin of Montana. The company has 300,000 net acres and plans to spend $37 million, or 5% of its capital budget in 2012 to evaluate this acreage.