Williams County, ND: Bakken Shale update

By Andrea: http://oilshalegas.com

Samson Oil & Gas Limited (SSN) released an update for the Bakken Shale. Pending settlement of the appropriate permits, Samson Oil & Gas will stimulate two new wells by August 23, 2010:

In light of the decision not to proceed with the Exploratory Unit, Samson is also seeking permits for two further wells which will protect a private lease from expiration later this year. All of the leases that are subject to drilling permits will form a post -closing settlement with the Buyer and will be settled in December 2010 so long as the drilling permits are valid and the associated leases remain in place.

Rodney #1-14H (27% working interest)
As of 0600 hours CST the Rodney #1-14H was drilling ahead at a measured depth of 16,372 feet and is expected to reach a total depth of 17,225 feet in the next 24 hours. The well path has been maintained within the Middle Bakken Formation and has returned oil and gas shows that are consistent with previous well in the North Stockyard Field. The Rodney #1-14H well is located in Township 154N, Range 99W, Section 14 in Williams County, North Dakota. This is Samson’s fourth Bakken well in the North Stockyard Field. The fracture stimulation of the Rodney well is planned as a 35 stage stimulation placing 4 million pounds of proppant and is due to commence the week of August 23rd.

Gary #1-24H (37% working interest)
The Gary well has been drilled and cased to a total depth of 17,727 feet and the fracture stimulation of that well is planned to commence on August 30th. The stimulation is planned to include 20 stages, 5 stages more than the Gene well which returned an IP of in excess of 3000 BOEPD. The stimulation will include the placement of 3 million pounds of proppant. The Gary #1-24H well is located in Township 154N, Range 99W, Section 24 in Williams County, North Dakota. This well was Samson’s third Bakken well in the North Stockyard Field.

Stimulation Operations

Operations to stimulate both the Rodney and the Gary wells are expected to commence the week of August 23rd. The detail sequencing of the stimulation operations have yet to finalized, but the current plan is to commence the first 8 stages of the 35 stage plan in Rodney and then to proceed to the 20 stage Gary stimulation.

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