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.
Brian Walzel, senior editor, E&P Plus
Dan Clark, vice president, Rockies Business Unit, ConocoPhillips
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