GeoResources Bakken participation growing

By OGJ editors
HOUSTON, Nov. 11
-- GeoResources Inc., Houston, said the pace of activity in the Williston basin Bakken/Three Forks play is increasing in its joint venture with Slawson Exploration Co., private Wichita-based operator.

GeoResources expects to participate in 60 joint venture wells in the next 18 months and will hold minor interest in numerous other wells. The company has 10-18% working interest in 110,000 net acres in the Bakken and has a 100% success rate with 34 Slawson-operated wells.

GeoResources, which continues to acquire land, said 63,000 acres are in Mountrail County, ND, on the east side of the Nesson anticline.

The company also owns minor working interests with multiple operators in more than 125 wells in the Bakken/Three Forks play in different parts of the basin.

Most wells in which GeoResources participates will be on 640-acre units, but the company is scheduling 1,280-acre and some larger spacing units and has numerous locations that may result in or require the larger units.

Completed well costs for single-lateral wells on 640-acre units are $3-3.5 million. Initial production rates have improved as the number of frac stages increases, and recent wells have had 18 stages. Three rigs are running and a fourth rig joins in from time to time.

Related Articles

Total, InterOil close Papua New Guinea deal

03/26/2014 InterOil and Total SA have finalized a revised sales and purchase agreement for the Elk-Antelope gas-condensate field in petroleum retention licenc...

Gorder named Valero chief executive officer

03/25/2014

Joe Gorder, Valero Energy Corp. president and chief operating officer, has been named chief executive officer, succeeding Bill Klesse.

Double Eagle changes name, appoints chief executive officer

03/25/2014 Double Eagle Petroleum Co., Denver, has appointed Charles F. Chambers to the position of chairman and chief executive officer, effective Apr. 1. As...

MOL closes purchase of North Sea assets from Wintershall

03/25/2014 MOL Group, Budapest, has completed its transaction with Wintershall, Kassell, Germany, in which MOL acquires offshore assets with 14 licenses in th...

Careers at TOTAL

Careers at TOTAL - Videos

More than 600 job openings are now online, watch videos and learn more!

 

Click Here to Watch

Other Oil & Gas Industry Jobs

Search More Job Listings >>
Stay Connected