Approximately 3,000 net acres of Northern’s position in Mountrail County are included in a joint-venture with Brigham Exploration. The company said that, as of now, the balance of Northern’s Mountrail County acreage has been included in six Parshall Field drilling units with EOG Resources, six Parshall Field drilling units with Slawson Exploration and four Parshall Field drilling units with Behm Energy.
In addition to these permitted drilling units in Mountrail County, Northern acreage has been included in three Continental Resources drilling units in Divide County, North Dakota and two Marathon Oil drilling units in Dunn County, North Dakota, US.
Michael Reger, CEO of Northern Oil and Gas, said: Our position in this productive resource play is well situated among acreage held by leading Bakken exploration companies. Assuming full development of our Mountrail County leasehold on 640-acre drilling units, Northern acreage would result in approximately 25 net wells. Pending downspacing in the Parshall Field would result in a significantly higher net well count.
