By Andrea: http://oilshalegas.com
Northern Oil and Gas, Inc. (NOG) recently announced increased 2010 drilling guidance and provided an operations update related to drilling and completion activity in the Williston Basin Bakken and Three Forks play.
2010 DRILLING ACTIVITY
Since January 1, 2010, Northern Oil has spud 21.5 net wells. Northern Oil is currently participating in the drilling or completion of 90 gross Bakken or Three Forks wells, for an aggregate of 10.4 net wells currently drilling, awaiting completion or completing. Of those wells, 5.0 net wells are currently drilling but have not reached total depth, an additional 4.6 net wells have been drilled to total depth and are awaiting completion and the remaining 0.8 net wells are currently undergoing fracture stimulation to commence production.
Northern Oil now expects to spud approximately 24 net wells by the end of 2010, increased from previous guidance of 18 net wells. We believe the increase in expected wells is based upon the increasing rig count, which was at an all-time high of 155 drillings rigs in the North Dakota Bakken play as of October 11, 2010. Northern Oil’s Chief Executive Officer, Michael Reger, commented "We continue to experience an increased pace of drilling in the Bakken and Three Forks plays. In addition to allowing Northern Oil to consistently increase its production, increasing drilling activities have also allowed us to observe the impactful delineation of the Three Forks play in key counties of the Williston Basin."
2010 ACREAGE ACQUISITIONS
Northern Oil has acquired a total of 38,864 net acres year-to-date in the core of the Williston Basin Bakken and Three Forks play at a total cost of approximately $42.2 million. This represents an average cost of $1,086 per acre.
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Showing posts with label northern oil and gas. Show all posts
Showing posts with label northern oil and gas. Show all posts
Sunday, October 24, 2010
Monday, July 21, 2008
Northern Oil & Gas NOG - Bakken Shale Update - CLR
Northen Oil & Gas NOG came out with press release this morning on the Bakken Shale
Northern Oil and Gas, Inc. Northern Oil and Gas, Inc. Announces Significant Bakken Discoveries, Three Forks/Sanish Plans, and Updates Accelerated 2008 Drilling Schedule and Capital Position.
Northern Oil and Gas, Inc. (AMEX: NOG) ("Northern Oil") announced today it has recently participated in the successful completion of three wells in the emerging North Dakota Bakken play, bringing to eleven the total number of producing wells in which Northern holds an interest.
In addition, Northern holds a working interest in an additional fourteen wells that are in the drilling or completion stages and is included in nearly 70 permitted or docketed-for-permit drilling locations that are expected to drill between now and early 2009. Northern Oil controls approximately 60,000 net acres in the North Dakota Bakken play, yielding over 90 net well locations based on 640 acre drilling units. In addition, Northern controls approximately 22,000 net acres in Sheridan County, Montana and has successfully completed two wells to the Red River formation.
"Northern's first mover leasing advantage is yielding significant rewards for our stakeholders," said Northern Chief Executive Officer Michael Reger. "We continue to accelerate our participation in successful North Dakota Bakken development, providing solid production results. With over 70 permits pending, our net production should continue to grow at an increasing rate in the second half of the year."
The recently completed Johnson 33 #1H well operated by Brigham Exploration is representative of Northern's growing success in the North Dakota Bakken play. The well flowed at an early rate of 650 BOPD, with sustained production of approximately 560 BOPD. The Johnson well is located significantly north of the Parshall field, representing an important Northern extension of prolific Bakken production. Northern participated in the Johnson 33 #1H with a 16.5% Working Interest.
"With approximately 10,000 net acres near the successful Johnson 33 #1H well, Northern is well positioned to benefit from Brigham's important success," Reger said. "We expect to participate in a number of offset locations to the Johnson 33 well in the coming months." A complete review of current producing wells can be found at the conclusion of this release.
Northern is currently participating in Continental Resources' Skachenko 1-31H well in Dunn County, ND. The well is a direct offset to the Bice 1-29H, also drilled by Continental. The Bice well - announced in late May - is among the first Three Forks/Sanish discoveries in the region.
"Northern's first Three Forks/Sanish well is significant in that, if successful, it provides an additional opportunity to grow reserves and production in what we believe is another prolific oil resource within our leasehold position," Reger added.
For the Lastest Haynesville Shale News.... visit http://haynesvilleshales.com/haynesvilleshalenews.html
Northern Oil and Gas, Inc. Northern Oil and Gas, Inc. Announces Significant Bakken Discoveries, Three Forks/Sanish Plans, and Updates Accelerated 2008 Drilling Schedule and Capital Position.
Northern Oil and Gas, Inc. (AMEX: NOG) ("Northern Oil") announced today it has recently participated in the successful completion of three wells in the emerging North Dakota Bakken play, bringing to eleven the total number of producing wells in which Northern holds an interest.
In addition, Northern holds a working interest in an additional fourteen wells that are in the drilling or completion stages and is included in nearly 70 permitted or docketed-for-permit drilling locations that are expected to drill between now and early 2009. Northern Oil controls approximately 60,000 net acres in the North Dakota Bakken play, yielding over 90 net well locations based on 640 acre drilling units. In addition, Northern controls approximately 22,000 net acres in Sheridan County, Montana and has successfully completed two wells to the Red River formation.
"Northern's first mover leasing advantage is yielding significant rewards for our stakeholders," said Northern Chief Executive Officer Michael Reger. "We continue to accelerate our participation in successful North Dakota Bakken development, providing solid production results. With over 70 permits pending, our net production should continue to grow at an increasing rate in the second half of the year."
The recently completed Johnson 33 #1H well operated by Brigham Exploration is representative of Northern's growing success in the North Dakota Bakken play. The well flowed at an early rate of 650 BOPD, with sustained production of approximately 560 BOPD. The Johnson well is located significantly north of the Parshall field, representing an important Northern extension of prolific Bakken production. Northern participated in the Johnson 33 #1H with a 16.5% Working Interest.
"With approximately 10,000 net acres near the successful Johnson 33 #1H well, Northern is well positioned to benefit from Brigham's important success," Reger said. "We expect to participate in a number of offset locations to the Johnson 33 well in the coming months." A complete review of current producing wells can be found at the conclusion of this release.
Northern is currently participating in Continental Resources' Skachenko 1-31H well in Dunn County, ND. The well is a direct offset to the Bice 1-29H, also drilled by Continental. The Bice well - announced in late May - is among the first Three Forks/Sanish discoveries in the region.
"Northern's first Three Forks/Sanish well is significant in that, if successful, it provides an additional opportunity to grow reserves and production in what we believe is another prolific oil resource within our leasehold position," Reger added.
For the Lastest Haynesville Shale News.... visit http://haynesvilleshales.com/haynesvilleshalenews.html
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