During initial testing, the well flowed 1,267 barrels of oil and 1.24 million cubic feet of gas, or 1,474boe over a 24-hour period. Credo claims that the 17-D is one of the best performing wells in the immediate area, and the company owns a 10% working interest.
Drilling is currently underway on a second Bakken well, the Petro-Hunt 147-94-3A-10-1H (3-A), located on Credo’s acreage. The new well is on a 1,280 acre spacing unit located about four miles southeast of the 17-D. Credo owns an 18.75% working interest.
Both wells are located on the Fort Berthold Reservation in Dunn County, North Dakota. Credo has leased approximately 8,000 gross (6,000 net) acres on the reservation containing about 50 drillable spacing units.
The acreage is generally located south and west of Parshall Field. The company’s interests range up to 51% depending on the size of the spacing unit. The reservation is surrounded on three sides by horizontal Bakken production, and about a dozen operators are working on the reservation, including Petro-Hunt, Kodiak, Marathon, Questar, EOG and Slawson.
In Williams County, North Dakota, drilling is underway on the Brigham Exploration Weisz 11-14#1-H (Weisz). The well is located on a 1,280 acre spacing unit about one mile east of Brigham’s Olson 10-15-H well, which has produced almost 115,000boe in 15 months.
Credo owns a 6% working interest in the well and, based on Brigham’s exploration plan for the area, expects up to three Bakken wells to be drilled on the spacing unit and potentially three additional wells to develop the deeper Sanish/Three Forks formation.
