More Wells Added Daily!

Northern Oil and Gas of Wayzata, MN said it will spend $325 million in drilling 44 new wells in the Williston Basin next year. The average cost per well is estimated at $7.4 million.

“We believe our growing asset base in the Williston Basin Bakken and Three Forks play will provide for another excellent year in 2012,” said CEO Michael Reger. “Given the continued industry-wide investments being made in this play, we believe Northern Oil is well positioned to continue to drive its share value in 2012.”

During the fourth quarter, Northern added production from 9.9 net wells, and is currently participating in 203 gross wells. Its end-of-year production is expected to be 10,000 BOPD after drilling 37 horizontal wells in 2011.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: