Bakken Shale

Continental Resources Reports Third Quarter of 2011 Bakken Update

Continental Resources (CLR) issued an operational update on the company’s Bakken development program for the third quarter of 2011.

Continental Resources completed 45 gross Bakken wells in North Dakota and Montana during the quarter, up from 34 gross wells in the second quarter of 2011.  The company exited September 2011 producing 70,000 barrels of oil equivalent (BOE) per day.

Continental Resources reported that twenty four Bakken Shale wells were waiting on completion and twenty five were completed and being prepared to start producing.  The company is operating twenty four rigs in the Bakken and has five fracturing crews currently working.

Continental Resources acquired 22,600 net acres of additional leasehold in the Bakken during the third quarter of 2011. The company reported that a majority of the acreage is held by production.

Continental Resources - Bakken Development Summary - Q2 2011

Continental Resources (CLR) reported on the company’s Bakken development in North Dakota during the second quarter of 2011.   

• Bakken production of 27,177 barrels of oil equivalent (BOE) per day, up 6% sequentially and 51% year over year.  The Bakken is now approximately 50% of the company’s total production.
• Participated in the completion of 78 gross or 21.9 net Bakken wells.
• Continental Resources completed 34 gross or 18.2 net operated wells with initial 24 hour production rate of 1,188 BOE per day.
• Lease position of 901,370 net acres with 72% of the leasehold in North Dakota.
• Twenty three operated rigs with 21 in North Dakota and 2 in Montana.
• Continental Resources is testing several oil bearing dolomitic layers that are several hundred feet below the Lower Bakken formation.

EOG Resources Reports Four Bakken Well Results For Second Quarter of 2011

EOG Resources (EOG) made progress on its development program in the Williston Basin despite the harsh winter weather during the second quarter of 2011.  The company is working on the Bakken formation here.

EOG Resources reported the completion of four wells into the Bakken during the quarter:

Liberty LR #21-36H – produced at a rate of 1,201 barrels of oil and 1.147 million cubic feet of natural gas per day.  The Liberty LR #21-36H well was drilled with a lateral close to 10,000 feet.

Fertile #19-29H – 1,008 barrels of oil per day.

Fertile #45-29H – 1,223 barrels of oil per day.

Hardscrabble 13-3526H – 1,474 barrels of oil per day.