Samson 34.5% Working Interest
Samson has an interest in 3,303 acres adjacent to the North Stockyard Oil Field, which is located in the Williston Basin in North Dakota.
The prospect has the ability to deliver 5 locations with each well being drilled as a horizontal intersection, which is common in the adjacent fields. The 5 horizontals wells have potential to recover 5.4 million barrels of oil, of which Samson would have a net revenue interest of 1.7 million barrels. Each well in the program will be dependent on the successful completion of the initial and subsequent wells.
The Harstad #1-15H well has been completed and surface facilities have been constructed. The well is currently producing at rates of between 70 and 100 barrels of oil per day. An acid fracture stimulation is expected. Experience in this field suggests that such stimulation would increase the oil rate to between 200 to 300 barrels of oil per day as the stimulation connects the poorer quality reservoir to the well bore.
Following this stimulation, because the well reached its total depth in oil and gas shows at the toe of the horizontal section, two additional locations in the field have been identified that are expected to be drilled during the remainder of 2007 or early 2008.
|
