US onshore-focused oil and gas exploration and production company Magnolia Petroleum plans to drill four new wells in North Dakota, US.
The wells are producing from the Bakken and Three Forks Sanish formations. All four will be drilled on the same spacing unit as the company’s existing Skunk Creek 14H and Skunk Creek 15H wells.
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The plans are part of the company’s strategy to increase production from reserves on its leases in oil-rich formations including the Bakken in North Dakota and Mississippi Lime in Oklahoma.
Magnolia Petroleum COO Rita Whittington said that the company will drill the four new wells back to back on the same spacing unit as the two original Skunk Creek wells.
"Though it has since been superseded, notably by four of the six Statoil-operated Jake wells in North Dakota, at 2,303 barrels of oil a day, the initial production rate for the Skunk Creek 15H well was, at the time, our best ever," Whittington added.
It is accepted practice in North Dakota to drill a total of four wells per formation on each spacing unit to maximise recovery from the reserves.
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By GlobalDataThe Three Forks Sanish formation lies below the Bakken formation, due to which there is the potential for eight wells to be drilled per unit on the company’s leases in North Dakota. These include the Jake wells and the Marathon-operated Gustafson and Helgeson wells.
