Archer #1 will evaluate the oil potential of the underlying formations, including the thick Bakken and Three Forks formations within the Williston Basin in north eastern Montana.
The well, with a TVD of 2,470m, is anticipated to take about 14 days to drill, evaluate and case at an estimated cost of about $1.1m, the company said.
Enterprise president and CEO Geoff Carrington said with rapid north western migration of the productive Bakken and Three Forks play, this well will demonstrate similar positive prospectivity over the company’s land holdings.
"Historical wells in this area have encountered both horizons and there is current local production from deeper zones. Core taken from the well will be evaluated for potential future well stimulation," Carrington said.
