Project Profile
Value: Undisclosed
Location: Bakken trend, Williams and McKenzie Counties, North Dakota
Area: 33,000 net acres
Number of wells drilled: 9
Start-up Year: 2010
Production: 59mboed
Resolute Energy entered in 2010 into an agreement with Marathon Oil to develop approximately 19,000 gross acres (8 425 net to Resolute) in the Bakken trend in McKenzie County, North Dakota. The agreement enables Resolute to increase its net lease holdings in the Bakken trend by almost 35 percent, to more than 33,000 net acres in Williams and McKenzie Counties, North Dakota. Under the terms of the agreement, Resolute will earn interests in the acreage by drilling and completing two earning wells. The company drilled the first wells early in the 4Q 2010.
Marathon will serve as contract operator of the earning wells and as operator of the contract lands. Resolute first entered the Bakken trend in March 2010 through a joint venture with GeoResources. The first well in the GeoResources joint venture was spud in September 2010. As of March 31, 2011, Resolute owns approximately 34,400 net acres in the Bakken trend. Although the middle Bakken formation is the primary objective, secondary objectives include the Three Forks, Madison and Red River formations. During the three months ended March 31, 2012, the company participated in the drilling of nine gross (2.2 net) wells. At March 31, 2011, the company had an interest in four gross (1.1 net) wells awaiting completion operations.
Operators:
Marathon: Operator
GeoResources
Resolute Energy