Enerplus grew U.S. oil production to more than 20,000 boe/d in the second quarter. Production from the Bakken was the primary driver, with volumes growing to 15,000 boe/d from the company’s Fort Berthold assets.
Enerplus invested $78 million drilling 4.7 net wells and bringing 6.1 net wells to production during the second quarter. Service costs and well costs continue to fall. Enerplus has realized savings of 10% compared to its plan at the beginning of 2013.
The company’s Fort Berthold assets are the primary focus of development. Enerplus has drilled 92 wells to date (74 Bakken & 18 Three Forks) and estimates its acreage holds:
- 6 year drilling inventory or 130 undrilled locations
- Downspacing potential at 160 acres per well that could add another 150 undrilled locations
- Potential in the second, third, and fourth benches of the Three Forks.
Read the full Q2 press release at enerplus.com