600 east boulevard ave. - dept 405 bismarck, nd 58505-0840 (701) 328-8020(701) 328-8000 north dakota...

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600 East Boulevard Ave. - Dept 405 Bismarck, ND 58505-0840 (701) 328-8020 (701) 328-8000 North Dakota Department of Mineral Resources http://www.state.nd.us/ndgs http://www.oilgas.nd.gov

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600 East Boulevard Ave. - Dept 405 Bismarck, ND 58505-0840 (701) 328-8020(701) 328-8000 North Dakota Department of Mineral Resources http://www.state.nd.us/ndgs http://www.oilgas.nd.gov Slide 2 Slide 3 Yearwell cost oil priceIPstages 2010725+15-28+ 2009$5,651,771$6065410-20 2008$5,413,471$81576 6-10 2007$4,386,927$54326 2-6 2006$4,089,715$52195 1-2 Will take 10,000 20,000 to fully develop the Bakken Three Forks Slide 4 Pad Drilling Slide 5 Methodology Met with 12 most active Bakken / Three Forks operators 2010 drilling plans Reviewed completion reports Spud to spud time 25 20 days Water use 1.5 million 4.0 million gal / well Drilling year round, fracturing 8 months / year Compared drilling, spacing, potential area Reality check on wells / year and duration Slide 6 Ray - Tioga Area Slide 7 430 to 540 wells per year 3.5 million 4.5 million gallons fracturing water per day May through December 11 to 14 years Slide 8 Williston Area Slide 9 70 to 90 wells per year 0.9 million 1.1 million gallons fracturing water per year May through December 8 to 20 years Slide 10 Alexander Area Slide 11 120 to 150 wells per year 1.4 million 1.8 million gallons fracturing water per day May through December 12 to 15 years Slide 12 Watford City - Keene Area Slide 13 250 to 310 wells per year 2.0 million 2.6 million gallons fracturing water per day May through December 5 to 7 years Slide 14 Killdeer Area Slide 15 235 to 290 wells per year 1.0 million 1.2 million gallons fracturing water per day May through December 6 to 8 years Slide 16 Parshall Area Slide 17 375 to 470 wells per year 1.5 million 2.0 million gallons fracturing water per day May through December 7 to 8 years