Continental's Bakken production totaled 108,573 boe/d (North Dakota: 94,702 boe/d, Montana: 13,871 boe/d) in the second quarter of 2014. That's an increase of 11% quarter-on-quarter and 23% year-over-year.
During the quarter, the company completed 224 gross (93 net) wells in the Bakken, and finished the reporting period with an inventory of approximately 84 gross operated (66 net) Bakken wells drilled, but not completed. The second quarter drilling inventory numbers are down from 100 gross operated wells drilled, but not completed at the end of the first quarter of 2014. Continental expects to complete approximately 870 gross (287 net) wells in the Bakken in full-year 2014, including both operated and non-operated wells.
Continental Bakken New Completion Techniques Employed
The company continues to modify completion techniques. During the quarter, Continental conducted three slick water completions in an unspecified geological area of the play, which company officials say resulted in an average early cumulative production increase of 35% higher than the production trend for the company's 603,000 BOE estimated ultimate recovery (EUR) model for North Dakota. Additionally, in the same geological area, early production was also stronger for three wells completed with increased proppant volumes, which averaged between 200,000 to 300,000 pounds of proppant per stage.
Continental Bakken Well Tests Update
In 2013, Continental began testing different areas across the Bakken field to determine the optimum well density and pattern for maximizing recovery and returns. So far, the company has initiated seven density pilot projects, all designed to include the Middle Bakken ("MB") and Three Forks One, Two and Three across the company's approximately 1.2 million net acres of leasehold.
Three of these projects are testing 1,320-foot inter-well spacing and four are testing 660-foot inter-well spacing. Four of the projects have already been completed. Company officials indicate positive results from the first completed 660-foot inter-well spacing test:
- Wahpeton (660 ft test); Initial Production (IP) rate for 12 wells in unit - 1,015 boe/d; IP rate for three MB wells in unit only - 1,730 boe/d
Three more projects testing the 660-foot inter-well spacing are in various stages of drilling or completion. The new wells are expected to be completed in the second half of 2014.
Read more at contres.com