Bakken Shale

GMX Resources Reports On Operated Bakken Program

GMX Resources (GMXR) issued an operational update on the company’s operated Bakken development program in North Dakota.

The Lange 11-30-1H well, which is the company’s fourth operated well in the Bakken, produced at a peak production rate of 2,549 barrels of oil equivalent (BOE) per day. The well was drilled with a lateral length of 9,348 feet and completed with a 32 stage hydraulic fracturing operation.

The Akovenko 24-34-1H well was drilled with a lateral length of 8,305 feet and will be completed with a 31 stage hydraulic fracturing operation in May 2012. The Akovenko 24-34-1H is the company’s fifth operated well in the Bakken.

In April 2012, GMX Resources started drilling the Johnston 31-4-1H well into the Middle Bakken formation. The Johnston 31-4-1H well will have a lateral length of 9,300 feet.

GMX Resources has completed work over operations on the Evoniuk 21-2-1H and the Frank 31-4-1H wells and will start work on the Wock 21-2-1H well shortly.

GMX Resources Updates Bakken Operations In North Dakota

GMX Resources (GMXR) has an active development program in the Bakken and Three Forks and disclosed an update on recent operations here.

GMX Resources has reached total depth on the Frank 31-4-1H well drilled into the Three Forks formation in Stark County, North Dakota.  The Frank 31-4-1H well is the company’s second horizontal well and is currently undergoing hydraulic fracturing operations.

GMX Resources is currently drilling the Evoniuk 21-2-1H well to the Bakken in Billings County, North Dakota, and expects to reach total depth shortly.  The company expects to start drilling the Lange 11-30-1H well in December 2011 and has five other permitted drilling locations targeting the Bakken.

GMX Resources also participated in six non operated Bakken wells including the Marsh 21-16TFH well, which produced at an initial rate of 4,020 barrels of oil equivalent (BOE) per day.

QEP Resources Issues Bakken Update For The Third Quarter Of 2011

QEP Resources (QEP) reported an update on its operations in the Bakken Shale during the third quarter of 2011.  The company has 90,000 net acres under lease that are prospective for this play.

QEP Resources reported average net production of approximately 4,100 barrels of oil equivalent (BOE) per day from the Bakken Shale during the third quarter of 2011.  The company put three Bakken wells onto production during the quarter and has ten wells either in the process of or waiting on completion.

QEP Resources said that the average cost to drill a Bakken well was $9.7 million during the third quarter of 2011.  The company said that costs are up by one million since the start of 2011.  This spiraling cost is probably due to longer laterals and rising fracturing costs.