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Samson Oil & Gas CEO Terry Barr Discusses Ongoing North Stockyard Project, DJ Basin Exploratory Well
March 21, 2015 – 04:14 pm

Source: SSN April 2014 PresentationSamson’s North Stockyard project covers three sections in Williams County, North Dakota – the heart of the Bakken oil shale play. Samson holds a 25% working interest or approximately 503 net acres in North Stockyard. In 2013, Samson farmed-out its working interest and operatorship to Slawson, a private operator with a regional exploration office in Denver. Slawson is a seasoned Bakken operator with ample resources and access to services, which facilitates more rapid development of the North Stockyard project.

North Stockyard will receive the bulk of Samson’s 2014 operational focus, which includes drilling 18 infill wells in calendar 2014 (Samson’s fiscal year ends June 30), ten of them targeting the Middle Bakken interval and the other eight targeting the Three Forks formation.

Source: SSN April 2014 PresentationOf the ten Middle Bakken wells, six are complete and producing, two have been fracked and are waiting on completion and two are in various stages of being drilled. This provides Samson a series of wells that will come online through 2014. The wells are being drilled on pads, meaning that we expect the production increases to be lumpy, as more than one well will be turned over to production at once.

Current production from North Stockyard is 331 BOEPD net and accounts for 80% of SSN’s producing assets (413 BOEPD net overall).

Progress has already begun on developing the Three Forks resource at North Stockyard. “We’re almost done with our first two Three Forks wells, and the first was completed on May 29, ” said Barr. “The Three Forks laterals are longer than the Bakken ones. They’re a section and a half, or 9, 000 feet, while the Bakkens were one section, or 6, 000 feet. The Three Forks wells are also virgin pressure so we anticipate they’ll produce well.”

Barr explains the reasoning for the various lateral lengths, given current industry practice to use 1, 280 drilling spacing units (DSUs). “When North Stockyard was first drilled it was in the early days of the Bakken and was before 1, 280 acre spacing became the standard. Our first Bakken well was on 640 acre spacing, and once you drill one of those you have to stick with that orientation. We’re going to be drilling the Three Forks wells from the middle of the three sections with one goes east and one that goes west. It’s really just the historical configuration.”

Other Williston Basin Projects

Besides its focus on the North Stockyard field, Samson has three other projects in the Williston Basin, including Rainbow, South Prairie and Roosevelt.

Source: www.oilandgas360.com
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