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BUDGET ALLOCATION TRIANGLE

PETROLEUM'S 2016 CAPITAL BUDGET ALLOCATION

BAKKEN NEWS

Halcón Resources, Triangle Petroleum find efficiencies, opportunities in Bakken Two Bakken producers—Halcón Resources Corp. and Triangle Petroleum Corp.— delivered positive results in their recent end-ofquarter reports. Houston-based Halcón said its well completion costs in the Bakken have declined by 30 percent during the first quarter of 2015 compared to costs in the previous quarter. The company made significant progress negotiating lower costs with its service providers and will continue to modify its drilling and completion techniques to improve recoveries and reduce costs. Jon Samuels, president and CEO of Denver-based Triangle, said it’s positioned to take advantage of opportunities in the Bakken. “Triangle has the balance sheet and a business model that will see us to the other side, and not everyone out there does,” he said, while

E&P Non- Op Drilling Program 3% E&P

RockPile presenting Triangle’s fourth-quarter and yearOperated 10% Drilling end report. The company’s 2015 fiscal year (2) Program ended Jan. 31. 88% In its report, Halcón noted record production increases in its Bakken operations because of positive results from downspacing. The company’s report said it brought six Bakken wells online spaced 660 to 770 feet apart drilled from a single pad with a cumulative On the Fort Berthold Reservation during capital budget there issued were on February 2015.spud IP rate of 21,131 barrels of oil equivalent(1) per FY2016 the last quarter, seven5,wells (2) E&P Operated Drilling Program does not include the RockPile and other day (Boe/d), one of which was a new Halcón level.and six wells put online withcapex an average Actual E&P operated incurred will likelyIP be rate reduced by elimin (3) Subject to commodity and gaps in RockPile third-party complet record at 5,248 Boe/d. of 3,522 Boe/d,prices an increase ofthe38.2 percent 16 Halcón operated an average of two rigs over the previous quarter. One well went in the Williston Basin during the last quarter. online in Williams County with 1,977 Boe/d. Overall, the company operates 172 producing Halcón also said that it is currently selling Bakken wells and 53 Three Forks wells. It has about 83 percent of its gas production in the 11 Bakken wells and five Three Forks wells Williston Basin and is continuing to increase its completed or awaiting completion on its oper- gas capture. ated acreage. Triangle operates Triangle USA Petro-

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The BAKKEN MAGAZINE MAY 2015

www.johnsoncontrols.com/buildings

The Bakken Magazine - May 2015  

Hydraulic Fracturing, Williston Basin Petroleum Conference Review

The Bakken Magazine - May 2015  

Hydraulic Fracturing, Williston Basin Petroleum Conference Review