Bakken Shale Oil Update 10/27/08 - Sanish Three Forks

Newfield Exploration ( NFX ) has come out with an update on their Bakken Shale formation. They also give some insight on the Sanish/ Three Forks area as well where they are drilling for Oil.

October Update - Bakken Formation

Our current net production from the area is approximately 2,500 BOEPD, and our activity level in the greater Williston Basin is expected to increase in 2009. We plan to operate three rigs throughout 2009. Plans include continued development and expansion along the Nesson Anticline and our exploration areas west of the Nesson and in Montana. We have 473,000 gross acres (160,000 net) in the Williston Basin. Our acreage position has prospective targets that include the Bakken Shale, as well as the Madison, Red River and Three Forks/Sanish. The Jorgenson 1-15H, our first Sanish/Three Forks horizontal well, is an apparent success and the well awaits completion at this time. Flow rates are expected in early November. We expect to drill four additional operated wells near this well in 2008