Denver-based Credo Petroleum Corporation today announced that its first Bakken well has been drilled and is currently awaiting completion. The well is located on the Fort Berthold Reservation and was drilled on a 1,280 acre spacing unit with a horizontal lateral of approximately 9,200 feet. It will be fracture stimulated in multiple stages. The completion has been delayed due to severe winter weather and is currently scheduled for early February. Credo owns a 10% working interest.
Credo states it has leased approximately 8,000 gross (6,000 net) acres on the Reservation containing about 50 drillable spacing units with interests ranging up to 51% depending on the size of the spacing unit. The company expects more than one well will be drilled on many of its spacing units.
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