Three Forks Bakken Shale Continental Resources Inc (CLR)

Continental Resources Inc. (CLR) recently came out with a bakken shale update in the three forks / sanish oil field. As you can see below, these flow rates are really good, especially in North Dakota.

Notable Company-operated wells that targeted the Three Forks zone, with initial test results, included:


Meldahl 1-23H (35% WI) in McKenzie County. - 2,489 Boe;
Ole 1-29H (36% WI) in McKenzie County. - 1,864 Boe;
Bang 2-33H (45% WI) in Dunn County. - 1,860 Boe;
Roger 1-18H (22% WI) in Dunn County. - 1,486 Boe;
Stortroen 1-13H (49% WI) in McKenzie County. - 1,461 Boe;
Lundberg 1-8H (39% WI) in Dunn County. - 1,238 Boe;
Strid 1-26H (35% WI) in Williams County. - 1,092 Boe.

Notable Company-operated wells that targeted the Middle Bakken zone, with initial test results, included:


Franklin 1-20H (34% WI) in Divide County. - 1,288 Boe;
Bohmbach 2-35H (68% WI) in McKenzie County. - 1,271 Boe;
Brockmeier 1-1H (59% WI) in McKenzie County. - 1,217 Boe;
Anseth 1-29H (69% WI) in Williams County. - 1,088 Boe.

http://phx.corporate-ir.net/phoenix.zhtml?c=197380&p=irol-newsArticle&ID=1456530&highlight

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Bakken Shale - Brigham Exploration BEXP - Top Oil Well

Brigham Exploration Co. (BEXP) gets my vote for Top company in the Bakken Shale in 2009. BEXP was basically left for dead during February & March of 2009 as institutions and mutual funds dumped the stock. Shares of Brigham Exploration Co. (BEXP) hit a low of $1.04.

The stock then rebounded with the overall stock market back into the $3's in May. Raymond James upgraded the stock and BEXP surged to $5 by August.

BEXP now trades just shy of $15 and is most likely headed to $25 in 2010.

Recently, Brigham Exploration Co. (BEXP) announced one of the best wells in the Bakken Shale of all time.

Brigham Exploration Announces Williston 25-36 #1H Bakken Well Produces at Initial Rate of Approximately 3,394 BOEPD

December 14, 2009 -- Brigham Exploration Company (NASDAQ: BEXP) announced that its operated Williston 25-36 #1H produced approximately 3,394 barrels of oil equivalent per day (2,769 Bopd and 3.75 MMcf/d) from the Bakken formation during an early 24 hour flow back period. The Williston was completed with 32 frac stages and represents Brigham's highest reported 24 hour flow back rate in the Williston Basin. Thus far, Brigham's nine long lateral high frac stage Bakken and Three Forks wells have averaged an early peak production rate of approximately 2,066 barrels of oil equivalent per day. Full Press Release Here



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Bakken Shale: Dunn County North Dakota

Today, 1/8/09, Kodiak Oil & Gas ( KOG ) has come out and given an operational update on the Bakken Shale and the Sanish/Three Forks region on the Bakken Shale. They have acerage positions in Dunn County, North Dakota.

Williston Basin Operations Update -- Dunn County, North Dakota

Kodiak's exploration efforts target oil and gas production from the middle member between the upper and lower Bakken shales, which is the source rock for existing hydrocarbons. The Three Forks/Sanish Formation, a productive interval lying directly below the lower Bakken shale, is also expected to be a future exploration target. Commercial production from the Three Forks/Sanish Formation is being reported by operators in the immediate area.

The Moccasin Creek (MC) #16-34-2H well (Kodiak operates with 60% working interest [WI] and 49% net revenue interest [NRI]) recently reached total depth. The well, located in the southwestern portion of Kodiak's leasehold, was drilled to an approximate total vertical depth (TVD) of 10,350 feet and a total measured depth (TMD) of 15,525 feet. During drilling operations, the wellbore encountered oil and gas shows in the lateral. A liner was run to total depth and completion work is tentatively scheduled after drilling of the MC #16-34H well is finished. The well successfully reached TMD in 38 days, which is within the Company's initial estimate of 40 days to total depth.

The drilling rig has been skid approximately 50 feet where drilling recently commenced on the MC #16-34H well (Kodiak operates with 60% WI and 49% NRI). The MC #16-34H is projected to be drilled to a TVD of 10,350 feet and proposed TMD of 14,800 feet.
Six miles east of the Moccasin Creek wells, Kodiak has completed construction of a drilling pad for the Charging Eagle (CE) #1-22-15H and the CE #1-22-23H wells. Approximately 10 miles north of the Moccasin Creek locations, a second drill pad is being constructed for the Two Shield Butte (TSB) #16-8H and the TSB #16-8-16H wells. Kodiak operates both locations and will utilize the skid package on its rig to move between wells, minimizing mobilization time and surface disturbance. Upon completion of the MC #16-34H well, the drilling rig will be moved to one of these drilling pads.

As of January 1, 2009, Kodiak had approximately 56,000 gross and 36,000 net acres under lease on the Fort Berthoud Indian Reservation (FBIR). Kodiak operates all of its leasehold on the FBIR, with the exception of approximately 9,000 net acres that are in a participating area previously established with another operator.

Bakken Shale: Three Forks - Sanish should be tested

Senator Byron Dorgan wants the Sanish/Three Forks Oil region to be tested to find out how much Oil is really there. The Three Forks rests below the Bakken Shale.

Government scientists should try to find out how much crude can be recovered from a promising reservoir beneath North Dakota’s already prolific oil patch, Sen. Byron Dorgan says. The U.S. Geological Survey says a study now would be premature.
The Three Forks-Sanish formation is made up of sand and porous rock directly below the rich Bakken shale in western North Dakota.
“The question is: What’s there and what’s recoverable using today’s technology?” said Dorgan, D-N.D., who said he will make a formal study request to the USGS next week.

Full Article - http://www.jamestownsun.com/articles/index.cfm?id=76697&section=News

Bakken Shale: XTO Energy Oil Three Forks 11/05/08

One of XTO's Bakken Shale wells of producing 1750 barrels of Oil per day in the Three Forks / Sanish area. This is an amazing discovery!

XTO Energy Inc. (NYSE: XTO) announced today production results from wells drilled in multiple regions on its newly acquired property base. In the Bakken Shale play of North Dakota, the Company has now completed 5 wells with average production rates of 673 barrels of oil equivalent per day, primarily producing from the Middle Bakken shale section. In addition, a Three Forks/Sanish discovery well, the DeAngelis 41x-21, has been completed at an initial production rate of 1,750 barrels of oil equivalent, at a flowing tubing pressure of 2,200 pounds.
XTO currently operates four drilling rigs in this prolific oil basin and owns a leasehold position with over 450,000 acres.

In the Fayetteville Shale, where XTO has expanded its leasehold to 380,000 acres, the Company has recently drilled and completed 5 wells, with 4,000 feet lateral sections, at an average daily rate of 2.5 MMcf. In the Woodford Shale region, on newly acquired acreage, the Churchill 1-26 well is completed and producing 4.3 MMcf per day.

In the Farrar/Bear Grass Field of the Freestone Trend, the Beddingfield 6H, a horizontal Cotton Valley lime well, was recently completed at 8 MMcf per day. This well offsets producing leases, totaling about 5,500 acres, acquired in the Hunt Petroleum transaction where drilling activity will commence in early 2009. Also, XTO has spudded its first two horizontal Haynesville Shale wells on acquired leasehold in its Eastern Region. Finally, in its offshore producing region of the Gulf Coast, XTO has completed and tested the Main Pass 125-2 well, one of several identified development prospects, at an initial daily rate of 17 MMcf and 500 barrels of oil.

http://phx.corporate-ir.net/phoenix.zhtml?c=97780&p=irol-newsArticle&ID=1222303&highlight=

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

Bakken Shale - CLR Continental Resources Update - Three Forks - Williams County, Divide County

This morning, Continental Resources ( CLR ), the biggest operator in North Dakota's Bakken Shale is out with an operational update and news on their Bakken Shale progress:

Continental Resources, Inc. (CLR) today announced initial production results for four wells that it recently completed in the northern portion of its North Dakota Bakken acreage, including its fifth well targeting the Three Forks/Sanish (TFS) formation.

The Omar 1-1H (41% WI) in Williams Co. flowed at an average rate of 1,126 barrels of crude oil equivalent per day (boepd) from the TFS formation during its seven-day production period test. The Omar 1-1H was drilled as a single lateral on 1,280-acre spacing.

Also in the northern portion of Continental's North Dakota acreage, the Company completed three wells targeting the Middle Bakken zone. The Company completed the Bliss 1-16H (54% WI) in Divide Co., the Skar 1-21H (54% WI) in Divide Co., and the Overlee 1-30H (54% WI) in Burke Co. for average rates of 476, 394 and 198 boepd respectively in their seven-day production period tests. The three wells were completed as single laterals on 1,280-acre spacing.
Continental is operating 10 rigs in the North Dakota Bakken play at this time, with six of those targeting the Three Forks/Sanish formation, which typically lies 50-to-125 feet below the Middle Bakken zone across the Company's North Dakota acreage.

"These four new completions further validate the productive potential of the northern part of our Bakken acreage," said Harold Hamm, Chairman and Chief Executive Officer. "We are in the process of completing three more TFS wells in this area at this time. Data from these will add to our understanding of the TFS potential in Burke, Divide and Williams counties."

Continental Resources is a crude-oil concentrated, independent oil and natural gas exploration and production company with operations in the Rocky Mountain, Mid-Continent and Gulf Coast regions of the United States. The Company focuses its operations in large new and developing resource plays where horizontal drilling, advanced fracture stimulation and enhanced recovery technologies provide the means to economically develop and produce oil and natural gas reserves from unconventional formations.

CLR is also active in the Haynesville Shale in Louisiana.

Bakken Shale BEXP Brigham Exploration drilling - Three Forks Mountrail County, North Dakota ND

Here is a Bakken Shale drilling update, this time coming out of Brigham Exploration ( BEXP ) in which one of their wells is hitting 1,100 barrels per day.

Williston Basin Three Forks and Bakken Completions -- In Mountrail County, North Dakota, Brigham is currently completing its first Three Forks test, the Adix 25 #1H. The Adix 25 #1H encountered good shows while drilling, and will be stimulated in late September.

Bud Brigham stated, "Later this month we plan to fracture stimulate twelve intervals in the Three Forks lateral of the Adix 25 #1H well. By increasing the number of stimulated intervals, we've seen substantially higher early production performance from our horizontal Bakken wells. We fracture stimulated twelve intervals in our most recent Bakken completion, the Carkuff 22 #1H, which is located just over one mile west of the Adix 25 #1H. The Carkuff 22 #1H produced at an initial rate of 1,110 barrels of oil per day and continues to perform very strongly. At this point, it is easily our best well. Just one mile east of the Carkuff 22 #1H, we previously completed the Bakke #1H which commenced production at 380 barrels of oil equivalent per day after the stimulation of seven intervals. We also have four significant working interest Parshall/Austin area Bakken wells currently completing, several of which should provide results in late September or early October. To the south in Mercer County, North Dakota, we plan to commence our first southern extension Bakken well in October. This will be the first test on our over 31,000 net acres controlled in that area."

Bakken Drilling West of the Nesson Anticline -- In Williams and McKenzie Counties, North Dakota, in the general area of Brigham's recently successful Mrachek 15-22 #1H Bakken discovery, Brigham is commencing two additional horizontal Bakken wells. The Olson 10-15 #1H and the Figaro 29-32 #1-H are both planned as 9-10,000-foot laterals, whereas the Mrachek 15-22 #1H was a 5,000-foot lateral. The Olson 10-15 #1H is currently drilling at a depth of approximately 2,200 feet. Brigham is picking up its second operated rig to commence the Figaro 29-32 #1-H in the next two weeks and currently plans to commence its third operated rig in early 2009.

http://bakkenshale.net
http://oilshalegas.com

Continental Resources ( CLR ) Bakken Shale - Earnings

This morning Continental Resources ( CLR ) has released earnings. CLR reported net income of 124 million or .75 cents per share for the 2nd quarter of 2008. In last years 2nd quarter, Continental Resources reported 44 million in net income - .27 cents per share on a pro forma basis. Now you can see why CLR is one of the Top 2008 Stock Gainers. Total revenues were 303.4 million vs 145.3 Million a year ago.

The Company's average sales price per barrel of crude oil equivalent was $102.86 for the most recent quarter, compared with $54.44 for the second quarter last year.

Bakken Shale

In the second quarter of 2008, Continental increased its lease acreage position in the Bakken Shale play to approximately 525,000 net acres, with153,000 net acres in Montana and 372,000 net acres in North Dakota.
Here is each well list and the production rate for each well:

-- Mathistad 1-35H (40% WI) in McKenzie Co. -- 1,260 boepd;
-- Dodge 1-17H (20% WI) McKenzie Co. -- 989 boepd;
-- Whitman 11-34H (32% WI) in Dunn Co. -- 765 boepd;
-- Bice 1-29H (44% WI) in Dunn Co. -- 693 boepd;
-- Cleo 1-12H (26% WI) McKenzie Co. -- 654 boepd;
-- Carson Peak 44-2H (33% WI) in Dunn Co. -- 601 boepd;
-- Kermit 1-32H (45% WI) McKenzie Co. -- 596 boepd;
-- Bridger 44-14H (45% WI) in Dunn Co. -- 383 boepd;
-- Bonneville 31-23H (45% WI) in Dunn Co. -- 362 boepd;
-- Mountain Gap 31-10H (44% WI) in Dunn Co. -- 331 boepd.

Where is the Three Forks Region?

Eight of the 10 wells listed above were completed in the Middle Bakken formation, which has typically been the drilling target in the North Dakot Bakken play. The Bice 1-29H and Mathistad 1-35H were Continental's first to wells to be targeted for the Three Forks/Sanish (TFS) formation, which is typically found 50-to-100 feet beneath the base of the Upper Bakken. Since the Bice 1-29H completion in late May, Continental has adjusted most of its drilling program to target specifically the TFS and determine its potential toadd incremental reserves to the play.

Woodford Shale:

Continental's lease position in the Arkoma Woodford is approximately46,000 acres

Haynesville Shale

The Company has grown its land positions to approximately 17,000 net acres in the Haynesville Shale play in northern Louisiana and approximately