U.S. shale player ConocoPhillips holds about 620,000 net acres in the Williston Basin, where it produced about 95,000 boe/d during the second quarter.
With about 860 operated wells online and nearly 80% liquids production in the Bakken, the company says the asset brings in a steady cash flow and has a promising future.
“We view the Bakken really as an attractive asset for us because it’s great geology. It’s well characterized and comparatively low risk, and it’s in a relatively mature stage of development,” Dan Clark, vice president of ConocoPhillips’ Rockies Business Unit, said during Hart Energy’s recently held DUG Bakken and Rockies virtual conference. “So, it’s predictable.”
The Bakken, which makes up part of ConocoPhillips Lower 48 unconventional assets alongside the Permian Basin and Eagle Ford Shale, is more mature.
However, “We still have a lot of running room in the Bakken with approximately 500 identified remaining future operated drilling locations and the potential to refrack up to another 250 existing wells,” Clark said.
Here’s how the company is advancing recovery from its wells along with its forward plans for the basin.
MODERATOR:
Brian Walzel, senior editor, E&P Plus
SPEAKER:
Dan Clark, vice president, Rockies Business Unit, ConocoPhillips
Recommended Reading
EIA Reports 30-Bcf Drop in Stored NatGas, Missing Expectations
2024-12-05 - The withdrawal of U.S. natural gas in storage was lower than expected, but prices remain above $3.
Surge Energy Balancing M&A Hunt with Testing Midland’s Shallow Zones
2024-12-05 - Surge Energy’s Travis Guidry discusses the potential for $1.3 billion in Permian Basin M&A and the company’s quest to grow inventory organically.
Chord Taps Gradient Geothermal’s Tech for Williston Basin Power
2024-12-05 - The first-of-its-kind deployment for the geothermal company in North Dakota involved removing heat from produced fluids to create electricity.
Matador Consolidates Midstream Subsidiary, JV in $600MM Deal
2024-12-05 - Matador is merging its Delaware Basin Pronto Midstream subsidiary with its San Mateo Midstream joint venture with Five Point Energy to showcase assets an analytical firm called "underappreciated."
Chevron Inks 10-Year LNG Import Agreement with Sembcorp
2024-12-05 - Chevron and Sembcorp have agreed to a sale and purchase agreement to import up to 0.6 million tonnes per annum of LNG into Singapore.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.