Denbury Resources (DNR) is accelerating the company’s development program in the Bakken Shale in the Williston Basin. The company has 200,000 net acres under lease and plans to spend $400 million in capital here in 2012.
Denbury Resources reported 93.9 million barrels of oil equivalent (BOE) of proved reserves in the Bakken at the end of 2011 and estimates it has 300 million BOE of resource potential here.
Denbury Resources reported average production of 8,788 BOE per day from the Bakken in 2011, and estimates that production in the first quarter of 2012 will average 15,114 BOE per day. The company estimates that average production in 2012 will range from 12,750 to 14,750 BOE per day.