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Emerald Oil Exits 2014 at 5,110 BOE/d; IPs Bakken Wells
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Emerald Oil, Inc. provided its 2014 fourth quarter and year end production rates, 2014 proved reserves update, and an interim operations update.
4Q14 Production and Proved ReservesDuring the fourth quarter of 2014, Emerald increased production to 377,250 BOE (96% oil), an average of approximately 4,101 BOEPD. This represents an increase of 69% compared to the fourth quarter of 2013, and a 6% increase compared to the third quarter of 2014. The Company exited 2014 producing approximately 5,110 BOEPD.
Emerald's proved reserves increased 99% year-over-year to 26.3MMBoe.
Operations UpdateEmerald's drilling operations continue with one rig currently operating in the Low Rider project area in McKenzie County, North Dakota. Total well costs in the area have declined from $9.5 million per well…
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