- 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 concentrated in the high-value ‘heart’ of the play (avoiding the fringe) where we target projects with one year cumulative production >200,000 barrels of oil (BO) & EURs >800,000 BO.
- PetroShale has one operated drilling unit, in which it has a 73% working interest, and the Company recently completed a significant horizontal well on this drilling unit with initial test production between 2,500 and 3,000 bopd (late 2016/early 2017).
- Our non-operated land interests are operated by the most efficient and effective operators in the basin, and offer near-term drilling opportunities.
- Continued evolution in completion technologies and increased drilling spacing provides opportunity to capture greater upside & improve recoveries