Emerald's total production increased by 80% in 2013 over 2012 from ~935 boe/d to ~1690 boe/d. The production increase was attributable to the addition of 10.58 net operated Bakken and Three Forks wells in 2013.
Since the beginning of 2013, the company has acquired ~67,700 net acres. The most recent Bakken acreage acquisition took place in January, and cost Emerald $74.6 million.
Emerald's Bakken Fourth-Quarter Production and 2013 Reserves
Emerald had a strong fourth-quarter in the Bakken, with average daily production of 2,430 boe/d.
t the end of 2013, Emerald had total proved reserves of ~13.2 mmboe, all of which were located in the Williston Basin. Emerald's proved reserves increased approximately 147% during 2013 primarily as a result of our successful operated well program.
Emerald's Bakken 2014 Drilling and Production Strategy
In 2014, Emerald has plans to add another rig to it's drilling program. The company expects to achieve an exit rate of 4,250 boe/d, with an average production rate of 3,550 boe/d.
Emerald plans to add an additional 18.2 net operated wells by the end of 2014.
Read more at emeraldoil.com