Montana Bakken Shale success has spurred Brigham Exploration to expand its commercial acreage position by over 10,000 acres. That’s promising news for Montana mineral owners. Drilling over the past few years has favored North Dakota, but oil & gas companies are beginning to drill exploration wells north of the Elm Coulee Field in Richland and Roosevelt counties.
Over 1,000 barrels per day is a good well anywhere in the Bakken, so expect lease terms, rates, and bonuses to improve in the area. Brigham Exploration, Continental Resources, and Oasis Petroleum all have acreage in the area.
“Brigham announced the successful completion of the Storvik 7-6 #1H, which is located in Richland County, at an early 24-hour peak rate of approximately 2,066 barrels of oil equivalent (1,857 barrels of oil and 1.26 MMcf of natural gas). The Storvik 7-6 #1H was completed with 34 frac stages and is located approximately three miles to the north of the Johnson 30-19 #1H. Brigham also completed the Charley 10-15 #1H, which is located in Roosevelt County, at an early 24-hour peak rate of approximately 1,069 barrels of oil equivalent (917 barrels of oil and 0.91 MMcf of natural gas). The Charley 10-15 #1H was completed with 30 frac stages and is located approximately two miles to the east of the Gobbs 17-8 #1H, which was completed with 36 frac stages.
Based on results of the above wells and previously announced completions, Brigham now believes that it has de-risked approximately 33,500 net acres for the Bakken in Eastern Montana, which represents an approximate 37% increase in its Eastern Montana de-risked acreage. In total, Brigham now believes that it has de-risked approximately 235,200 net acres and has at least 794 net remaining drilling locations in its inventory in the Williston Basin.”
Read the full press release at bexp3d.com