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
DNO Makes Another Norwegian North Sea Discovery
2024-12-17 - DNO ASA estimated gross recoverable resources in the range of 2 million to 13 million barrels of oil equivalent at its discovery on the Ringand prospect in the North Sea.
Wildcatting is Back: The New Lower 48 Oil Plays
2024-12-15 - Operators wanting to grow oil inventory organically are finding promising potential as modern drilling and completion costs have dropped while adding inventory via M&A is increasingly costly.
DNO Discovers Oil in New Play Offshore Norway
2024-12-02 - DNO ASA estimated gross recoverable resources in the range of 27 MMboe to 57 MMboe.
Freshly Public New Era Touts Net-Zero NatGas Permian Data Centers
2024-12-11 - New Era Helium and Sharon AI have signed a letter of intent for a joint venture to develop and operate a 250-megawatt data center in the Permian Basin.
Baker Hughes: US Drillers Keep Oil, NatGas Rigs Unchanged for Second Week
2024-12-20 - U.S. energy firms this week kept the number of oil and natural gas rigs unchanged for the second week in a row.
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.