Exploration & Production | Quarterly / Earnings Reports | Capital Markets | Private Equity Activity
Earthstone Talks Bakken Banks Field Potential; Talks TX, NB Ops
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Earthstone Energy Inc. has reported an update of its current operational activities along with activities for its 2nd fiscal quarter, ended September 30, 2013.
Banks Field, McKenzie County, North DakotaThere continues to be excellent potential for reserve growth in the Banks area, where we placed seven new wells on production in the second quarter, ended September 30, 2013. All seven wells are operated by Statoil and include, the Enderud 9-4 4TFH, Beaux 18-19 2TFH, Beaux 18-19 7H, Sax 25-36 3H, Sax 25-36 4TFH, Sax 25-36 5H and Sax 25-36 6TFH. Currently, two wells are drilling and six wells are being completed or are waiting on hydraulic stimulation.
With respect to oil and gas reserves classifications, at quarter-end, five wells were reclassified from Proved Undeveloped (PUD) to the…
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