The company plans to invest about $2.1bn over the next five years, including $306m in 2011, to develop existing reserves and fund additional leaseholds.
The second rig is expected to spud the TTT Ranch 33-28 well, located in Mountrail County in the US state of North Dakota next week, and the well will target the middle Bakken formation.
Fidelity’s 2011 plans include drilling of 18 wells on its Bakken and Three Forks acreage in North Dakota, including six in Stark County.
In 2012, with a full year of capacity from the additional rig, Fidelity plans to enhance its development by drilling 12 wells in Mountrail County and 12 wells in Stark County.
