Minnesota-based Northern Oil & Gas provided an update yesterday on its acreage acquisition and drilling activities in the Williston Basin. Highlights...
- during the first quarter of 2011, the company acquired leasehold interests of approximately 11,100 net mineral acres for an average of $1,540 per net acre in its core Bakken and Three Forks prospect areas.
- Northern Oil controls 151,327 net acres targeting the Bakken and Three Forks prospects as of March 28, 2011. The company says this acreage position will allow it to participate in approximately 709 net wells assuming six wells per 1280-acre spacing unit.
- the company has spud approximately 9.8 net wells in the first quarter of 2011 year-to-date and now expects to spud approximately 40 net wells during 2011, which represents an increase from previous guidance of 36 net wells.
http://finance.yahoo.com/news/Northern-Oil-and-Gas-Inc-prnews-1049264655.html?x=0&.v=1
- during the first quarter of 2011, the company acquired leasehold interests of approximately 11,100 net mineral acres for an average of $1,540 per net acre in its core Bakken and Three Forks prospect areas.
- Northern Oil controls 151,327 net acres targeting the Bakken and Three Forks prospects as of March 28, 2011. The company says this acreage position will allow it to participate in approximately 709 net wells assuming six wells per 1280-acre spacing unit.
- the company has spud approximately 9.8 net wells in the first quarter of 2011 year-to-date and now expects to spud approximately 40 net wells during 2011, which represents an increase from previous guidance of 36 net wells.
http://finance.yahoo.com/news/Northern-Oil-and-Gas-Inc-prnews-1049264655.html?x=0&.v=1
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