Vitesse Energy Grabs 19,000 Net Bakken Acres -Sept. 2014

Bakken Oil Workers

Centennial, CO-based Vitesse Energy, LLC has purchased non-operated oil and gas assets in the Williston Basin from EnerVest Operating, LLC for $186.5-million. Included in the deal are working interests in approximately 600 wells and over 19,000 net acres in core Bakken Counties of Williams, McKenzie and Mountrail.

“Vitesse CEO Bob Gerrity, said, “this acquisition represents a synergistic addition to our existing high-quality acreage in the core area of the Bakken and Three Forks play, and also provides new growth opportunities in developing areas of the field where technology continues to enhance returns.”

The agreement was signed on August 1st, and closed on September 8th. Vitesse Energy, LLC is a subsidiary of U.S.-based holding company Leucadia National Corporation.

Read more at vitesseoil.com

SM Energy Grabs 61,000 Bakken Net Acres - $330 Million

SM Energy Bakken Map

In late July of 2014, SM Energy announced it will acquire approximately 61,000 net acres in Divide and Williams Counties for $330-million from Baytex Energy. The acreage is directly adjacent to the company's Gooseneck focus area. Upon closing, the company will have ~97,000 acres in the area.

Company officials say the acquisition is expected to add significant drilling inventory, and includes interests in 126 drilling spacing units, 81 of which will be operated by SM Energy. Net production from the acreage is ~3,200 boe/d (91% oil, 1,500 BTU rich gas). The properties are 90% operated and approximately 70% held by production. Working interest for operated spacing units is expected to range between 37.5% – 50.0%

Directly adjacent to the acquisition area, SM Energy noted improvements in its Three Forks program recently due to faster drilling times and improved completions. Current data reflects recent wells have higher sustained production rates than older wells.

The transaction has an effective date of July 1, 2014, is expected to close by the end of the third quarter of 2014, and is subject to customary closing conditions and adjustments. The Company expects to fund the acquisition with cash on hand and borrowings under its existing credit facility.

Read more at sm-energy.com

Whiting Petroleum Has Record Bakken Production in First Quarter

Whiting Petroleum Bakken Acreage Map

Whiting Petroleum had record breaking Bakken production in the first quarter of 2014 of 73,325 boe/d. That's up 27% over the first quarter of 2013. On April 1, 2014, the company claimed to have achieved its' best well result to date in its' Cassandra field in Williams County.

“Whiting’s CEO James Volker said, ““Our North Dakota, Colorado and Texas teams overcame one of the most severe winters on record so that we met all of our guidance numbers in the first quarter. We [] achieved our best well result to date at our Cassandra field with the completion of the Kaldahl 11-3H flowing 1,930 BOE/d on April 1, 2014 using a cemented liner.”

Whiting's Bakken First Quarter Operations Highlights

In the Missouri Breaks Field (Richland and McKenzie counties, North Dakota), Whiting completed four wells at the end of March and the beginning of April in this area, with an average of 1,206 boe/d. The company used its new coilded tubing fracture stimulation method on one of the wells, and achieved a flow rate of 1,607 boe/d, which was 73% higher than the initial well in the unit.

In the Cassandra Field (Williams County, North Dakota), The Kaldahl 11-3H was completed in the Middle Bakken on April 1, 2014 flowing 1,930 boe/d. That's 104% higher than the 10 prior wells completed in the Middle Bakken formation.

Whiting Petroleum has operations in the Williston Basin covering Mountrail, Stark and Billings counties in North Dakota, and Wibaux County, Montana.

Read more at whiting.com

Continental's Bakken & Three Forks Density Test Yields Almost 15,000 boe/d

Continental Resources Hawkinson Bakken Three Forks Density Test

Continental set a record with third quarter production of 141,900 boe/d. Bakken production grew 7% and accounted for 94,500 boe/d of the total.

Continental operated 20 rigs in the Bakken region during the quarter and grew gross production to almost 120,000 boe/d (94,500 boe/d net). That's 51% higher than the third quarter of 2012 and even more impressively, Montana production grew 17% over the second quarter.

Continental participated in the drilling of 203 gross (75 net) Bakken-Three Forks wells and the number of drilled, but not completed wells grew to 85. The company expects to participate in a total of 761 gross (282 net) Bakken & Three Forks wells in 2013.

The company also reached its year-end target of $8.0 million well costs during the quarter.

“....In addition, we completed our first density test in the Hawkinson spacing unit, demonstrating very strong initial production in the Middle Bakken and the first three benches of the Three Forks. Once again, Continental is pioneering the expansion and improved recoveries in the world-class Bakken oil play, demonstrating the productive potential of four to five stacked zones with multiple wells in each.”

— Harold G. Hamm, Continental's CEO

Continental Completes Hawkinson Unit & Plans Full Field Development in the Antelope Area

W. F. "Rick" Bott, COO, commented, "The Hawkinson project is a milestone event for CLR and further validates our vision for full field development of the Bakken -Three Forks reservoirs in this world class oil field."

Continental Resources Bakken - Antelope Area Map

The Hawkinson density project tested 14 wells in a single unit. Three wells were existing and another 11 were drilled to complete the test. Four Middle Bakken, three Three Forks 1, four Three Forks 2, and three Three Forks 3 wells were drilled and completed at 1,320 ft spacing and 660 ft spacing in adjacent zones. The 11 new wells yielded 13,400 boe/d in addition to the 1,450 boe/d being produced from the existing three wells. That's almost 15,000 boe/d from a single pad.

The company also announced full-field development plans in the Antelope area. This will include drilling 350 wells from pads with 20-30 wells each over the next four to five years. The area will be the first to see full field development in the deeper benches of the Three Forks.

Read the full release at clr.com

Tesoro Website Launched In Response to Oil Spill

Tesoro has launched tesoroalert.com to keep everyone up to date on the North Dakota oil spill response efforts. The spill was discovered at the on September 29th and became national news a couple of weeks later. Tesoro estimates 20,000 barrels of oil were spilled. The company has recovered approximately 4,000 barrels to date. The spill affected 7-8 acres and remediation efforts are expected to be completed by the end of 2014.

“We deeply regret our recent crude oil spill north of Tioga, North Dakota. This type of event is unacceptable. We take full responsibility and will make the situation right.......We`re committed to leaving the land in the same or better condition it was in before our event, and we are taking steps to prevent incidents of this kind from occurring again.”

— Dan Romasko, COO

A page of FAQs and the October 10th press release are also included on the site.