- PetroShale provides exposure to a diversified portfolio of working interests within high-quality, large oil-in-place projects in the core and most economic part of the Bakken / Three Forks play in North Dakota, US.
- The US Bakken is a complete petroleum system with source rock featuring multiple stacked zones accessible for development: Middle Bakken, Three Forks Benches One, Two, Three & Four, Pronghorn/Sanish and Lodgepole.
- Acquisitions have been focused on lands and drilling opportunities in the geological ‘sweet spot’ of the Bakken oil play, as well as in more complex land ownership areas on the Ft. Berthold Indian Reservation, with rigorous technical and financial analysis performed before any lease is acquired. PetroShale has continued to be successful in adding lands within our core area acreage position.
- PetroShale’s first operated well (8-H; 73% WI) tested 2,500 to 3,000 bopd (gross) initially over a 24 hour production test period (early 2017). Key highlight: production contribution from just 1/3rd of the wellbore with the remaining 2/3rd completed but still ‘behind pipe’. The operated well is a game-changer and further validates our acreage and inventory.
- Significant exposure to non-operated interests with several large operators in the Williston Basin.
- Continued evolution in completion technologies and increased drilling spacing provides opportunity to capture greater upside & improve recoveries