Continental Resources announced results from its first well test in the third bench of the Three Forks formation. The Charlotte 3-22H flowed 953 boe/d at 1,700 PSI on a 28/64th choke. The well was drilled to a total depth of 21,324 ft in McKenzie County, ND. A 9,701 ft later was drilled and completed with Continental's standard 30 stages. This unit is the first in the Bakken to have three wells producing from three separate producing horizons.
Continental first began drilling the Three Forks (TF1) commercially in 2008 and began drilling the second bench (TF2) in 2011. This marks a successful test of the third bench (TF3) and the company plans to test a fourth bench (TF4) in 2013. A total of 14 wells are planned by the end of 2013 that will test the TF2, TF3, and TF4 formations. If all four benches prove successful, we'll see the company test a 14 well unit not long afterward.
The company has trumpeted the ultimate potential of the field and this discover isn't going to slow them down. Prior ultimate recovery estimates were based on an original oil in place number of 577 billion barrels. Recent wells in formation not accounted for have now boosted the company's estimate to 903 billion barrels of OOIP.