World Class Resource
There is no question that the Bakken has lived up to the hype and with recovery technologies continuing to improve that increase production and reduce costs, North Dakota does have a World Class Resource:
The Williston Basin includes the Bakken & Three Forks formations, which are 85% oil and other proven plays including the Madison, Red River and Tyler formations. Estimated ultimate recovery of oil range from 9 Billion BOE to 24 Billion BOE.
A majority of the basin has stacked pay zones or multiple pay zones, with both Bakken and Three Forks throughout the heart of the development basin. Put simply, one location has the potential for multiple wells for full development that increases the net acreage footprint for a Mineral Owner or lease holder.
Operators are testing infill drilling of 12 to 16 wells per 1,280-acre spacing unit with the following estimated breakdown:
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Middle Bakken – 4 wells per 1,280 acre spacing unit
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Three Forks 1 – 4 wells per 1,280 acre spacing unit
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Three Forks 2 – under development with potential future upside
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Three Forks 3 – under development with potential future upside
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Plus 3 additional geologically proven plays: Madison, Red River and Tyler