Breitling Acquires Large Bakken Shale Acreage
Breitling Oil and Gas Corporation, an independent exploration and production company based in Irving, Texas, announced that it has acquired a large acreage position in the Sand Creek field, a proven and prolific part of the Bakken Shale formation in McKenzie County, North Dakota.
Breitling plans to drill the initial 6 Bakken and Three Forks wells during the next 24-36 months, which will represent the start of a continuous, multi-rig development program for the company.
"Our significant acreage position in a prolific area in McKenzie County gives us a considerable competitive advantage in the Bakken and Three Forks," said Chris Faulkner, chief executive officer of Breitling Oil and Gas. "We believe the Bakken and Three Forks represent a game-changing resource play for the United States and will be a major focus of Breitling's future exploration and production activities."
The Bakken formation encompasses some 25,000 square miles in North Dakota, Montana, Saskatchewan and Manitoba. The Three Forks is made up of sand and porous rock directly below North Dakota's portion of the Bakken formation, where oil-producing rock is sandwiched between layers of shale about 2 miles underground.
A U.S. Geological Survey report found that North Dakota and Montana have an estimated 5 to 10 billion barrels of undiscovered, technically recoverable oil in the Bakken Formation and Three Forks combined.
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