Credo Petroleum Corporation (CRED) reported the completion of a well into the Bakken formation on its acreage in North Dakota. The company has 6,000 net acres prospective for the Bakken located in Dunn and Williams Counties.
Credo Petroleum Corporation said that the Petro-Hunt 3-A well produced at a 24 hour restricted rate of 1,367 barrels of oil equivalent (BOE). The well was drilled with a 10,000 foot lateral and completed with a 25 stage hydraulic fracturing operation.
Credo Petroleum Corporation has drilled five wells to date on its Bakken acreage. The Zenergy 14-23 and the Questar MHA 1-32 wells are currently waiting on completion.
Credo Petroleum Corporation previously reported the completion of the Petro-Hunt 17-D and Brigham Weisz 11-14 wells, at initial production rates of 1,474 and 2,278 BOE per day, respectively. The company’s development plans for 2011 include nine Bakken wells.