Enterprise Energy “Spuds” First Well

Enterprise Energy Resources Ltd.  announced on Monday  that it has spudded its first well, Archer #1, in Sheridan County, Montana. Enterprise holds a 100% working interest in approximately 30,000 net acres (47 net sections), subject to a 10% back-in right.
The Archer #1 well is located on the northern edge of Enterprise’s land package and lies about 25 miles south west of several successful Bakken wells drilled recently in Montana by one of the area’s major operators. The well will evaluate the oil potential of the underlying formations, including the thick Bakken and Three Forks formations within the Williston Basin in North Eastern Montana.
The Archer #1 well, with a TVD (total vertical depth) of 8,100 ft, is anticipated to take about 14 days to drill, evaluate and case at an estimated cost of approximately US$1.1 Million.
“With the rapid north western migration of the productive Bakken and Three Forks play, we anticipate that this well will demonstrate similar positive prospectivity over Enterprise’s land holdings. Historical wells in this area have encountered both horizons and there is current local production from deeper zones. Core taken from the well will be evaluated for potential future well stimulation.” commented Geoff Carrington, President & CEO of Enterprise. “A successful well would have a significant impact on the Company.”

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Author: montanaoilreport

After my first job at a newspaper -- delivering papers for the Jackson (TN) Sun, ink was in my veins. Since the 1970's I've worked in every area of the Printing and Publishing industry, with most of that time spent in the pressroom. In 2008 I moved to Montana and purchased the Sun Times of Fairfield (fairfieldsuntimes.com). In 2011 I realized that most media outlets were either ignoring, or attacking, the growing oil and gas industry in Montana, so I started the Montana Oil Report as the source of information on this important industry.

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