Unit Corporation (UNT) released an update on its oil and gas operations in the Bakken Shale. The company has 2700 net acres prospective for the Bakken Shale in North Dakota.
Unit Corporation has a 25% working interest in the Grasser #1H well. The well was drilled with a 5700 foot lateral and completed using a twenty stage hydraulic fracturing operation.
The Grasser #1H well had a peak production rate of 2000 barrels of oil per day, and 1.4 million cubic feet per day of natural gas. The Grasser #1H well produced 43,000 barrels oil equivalent (BOE) during the first forty-five days of production.
Unit Corporation said that another Bakken Shale well is currently being fractured and a third well is being drilled. The company plans two further Bakken Shale wells before the end of 2010.