North Dakota: Northern updates Bakken-Three Forks

By OGJ editors
HOUSTON, Mar. 28 – Northern Oil & Gas Inc., Wayzata, Minn., said it is participating in 46 Bakken-Three Forks wells that have spud in the Williston basin, holds working interests in 37 wells completed in the quarter ending Mar. 31, 2011, and has acquired 11,100 net mineral acres this year.

The acquired acreage, which is consistent with the company’s strategic nonoperated business model, will allow Northern Oil to participate in 709 net wells assuming six wells/1,280-acre spacing unit.

As of Mar. 28, 2011, the company has participated in 343 successful Bakken or Three Forks wells. It is participating in 141 gross Bakken or Three Forks wells that are drilling, awaiting completion, or under completion.

Slawson Exploration Co., Northern’s chief operating partner, has contracted 1.5 dedicated frac crews, which Northern expects will materially shorten the spud-to-sales timeline at the Windsor prospect in southern Mountrail County, ND.

Northern noted that the North Dakota Industrial Commission counted a record 173 rigs drilling in the North Dakota part of the play.