GeoResources (GEOI) issued an update on its operations in Montana, where the company is developing the Bakken formation in Roosevelt County. The company has 9,000 net acres in Montana.
GeoResources reported that the Renegade #1-10H Bakken well had an initial production rate of approximately 630 barrels of oil per day, and an average of 330 barrels of oil per day over the first 30 days.
The Renegade #1-10H well is operated by Slawson Exploration Company, and is located on the Rip-Rap prospect. The Battalion 1-3H well is currently being drilled at the same project area.