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Whiting to Boost Niobrara Rig Count by Two by 2Q15
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Whiting Petroleum Corp. has reported a third quarter 2014 update on its operations in the Redtail Niobrara Field.
We currently have four rigs drilling at Redtail. A fifth, which is pad-capable, is scheduled to arrive in November 2014. We plan to add a sixth rig in the first half of 2015, which will also be pad capable.
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We hold a total of 181,026 gross (129,669 net) acres in our Redtail Niobrara field, located in the Denver Julesberg Basin in Weld County, Colorado. Net production from our Redtail Niobrara field averaged 8,610 BOE/d in the third quarter of 2014, representing a sequential increase of 19% over the 7,235 BOE/d average in the second quarter of 2014. It takes between 90 and 120 days from spud to first production for an eight-well pad. As we recently brought…
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