Northern Oil and Gas, Inc. Announces Ten Bakken and Three Forks Discoveriesadmin
Northern Oil and Gas, Inc. announced the successful drilling and completion of an additional ten oil producing wells in the North Dakota Bakken and Three Forks trend. The ten wells began producing at an average initial production rate of 825 barrels of oil per day.
Northern Oil is currently participating in the drilling or completion of an additional 21 Bakken and Three Forks wells. In addition, Northern Oil’s acreage has been included in over 200 permitted or docketed-for-permit drilling locations in North Dakota.
Michael Reger, Chief Executive Officer, commented, “We continue to add production and reserves at an accelerating pace and we expect to meet or exceed previously announced 2008 exit rate production guidance. We also continue to see higher initial production rates in our wells and are starting to see lower drilling and completion costs.”
With these most-recent ten completions, Northern Oil now holds working interest in 38 producing wells and has drilled with a 100% success rate in 2008.
Northern Oil is a working interest participant in an additional 21 wells currently drilling or completing in the North Dakota Bakken and Three Forks trend. The table below summarizes current drilling and completion activity in which Northern Oil is a working interest participant.
Northern Oil and Gas, Inc. is an exploration and production company based in Wayzata, Minnesota. Northern Oil’s core area of focus is the Williston Basin, specifically the Mountrail County, North Dakota area Bakken and Three Forks trend. Northern Oil’s secondary objective is conventional, 3D driven, oil and gas exploration and development throughout the Rocky Mountain region.
More information about Northern Oil and Gas, Inc. can be found at www.NorthernOil.com.