At present, Norse continues to conservatively estimate average reserves of 1.2 billion cubic feet or 214,000 barrels of oil equivalent per well. With 250 identified locations, the projected reserve potential is in excess of 300 billion cubic feet in the Herkimer Formation alone.

Oivind Risberg, Norse Energy’s CEO, said: We now have on order larger capacity production equipment so that the encouraging geology of the area is allowed to demonstrate its full potential.