Credo Petroleum (CRED) updated its operations in the Bakken Shale in North Dakota. The company said that the Petro-Hunt 148-94-17D-08-1H well produced 1,474 barrels oil equivalent (BOE) during a 24-hour period. The production consisted of 1,267 barrels of oil and 1.24 million cubic feet of gas.
Credo Petroleum said that the well was drilled to a vertical depth of 11,150 feet and completed with a 9200-foot horizontal lateral.
Credo Petroleum also stated that it would spud its second Bakken Shale well in two months. The Petro-Hunt 147-94-3A-10-1H is four miles south of the Petro-Hunt 148-94-17D-08.
Credo Petroleum has 8,000 acres under new lease on the Fort Berthold Indian Reservation that are prospective for the Bakken Shale. The company believes it has fifty drilling locations.