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Cirque Continues Bakken Exploitation

Burke County, North Dakota

Denver-based Cirque Resources (Cirque) continues to exploit the company’s horizontal Bakken discovery located roughly 9 miles southwest of Kenmare in Burke County, North Dakota. Cirque has staked a sixth Bakken prospect near their discovery at the Feast of Fools #12-16H, se-se 12-160n-91w. This proposed sideways attempt is nearly 4 miles northwest of the company’s discovery well, the Trippell #32-16H, se-se 32-160n-90w. This producer has been given an IPP of 614 bopd and 559 bwpd from the Bakken interval at 8,734’–13,507’. Since August 2009, this well has cumulated more than 20.4 k bo, 11.97 mmcfg, and 25.3 k bw.

Cirque’s latest staking is roughly a half-mile southwest of a failure drilled by General Atlantic Energy at the Stargazer #41-12, sw-sw 12-160n-91w, a 7,156’ Madison test. A DST in the Madison section from 6,880’ to 6,928’ recovered only a slight trace of oil. This wildcat was abandoned in 1968. The nearest established production to the Feast of Fools prospect is some 3 miles east at the now-depleted Dimond Field. Abandoned in 1994, Dimond Field cumulated in excess of 32 k bo, 4 mmcfg, and 97 k bw from two Madison wells following its discovery in 1961.

Thus far, Cirque has drilled three Bakken tests in Burke County and is in the process of drilling a fourth. In addition to their discovery well, the company has drilled the Red Lady #36-4H, nw-nw 36-160n-91w, and the Honkers #9-16H, se-se 9-160n-90w. Cirque is also turning to the right at the True Blonde #16-15H, sw-se 16-160n-91w, and has a location staked at the Mad Hatter #16-4H, nw-nw 16-160n-90w. All of this activity is situated within the anticipated field outline of 48 sections, or 30,720 acres that has been proposed by Cirque. The outline would contain all of the following:

•  Sections 4–6 and 8, 159n-90w;
•  Sections 2–11, 14–23, and 27–34, 160n-90w; and
•  Sections 1–5, 8–16, 25, and 36 of 160n-91w.

The nearest Bakken production to the Cirque activity is approximately 4–8 miles south/southwest at a new pay discovery drilled by EOG Resources (EOG) at the Vanville #1-14H, nw-nw 14-159n-91w. Representing the most northerly Bakken production to-date for EOG, this well has been incorporated into Thompson Lake Field, a previously abandoned one-well Madison oil pool. The #1-14H has cumulated more than 37 k bo, 23 mmcfg, and 44 k bw from approximately 4,500’ of lateral hole.

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Gas & Crude Oil Prices02/05

Area Price/bbl,
API
West Texas Intermediate 67.81
Central Montana 59.06
Northwest Montana Sour 61.25
Williston Basin Sweet 61.00
Williston Basin Sour 54.00
Wyoming General Sour 57.25
Wyoming Sweet (Powder Rv Bsn) 56.94
Colorado D-J Basin 56.30
Four Corners 66.60
Nebraska 56.19
S-Eastern Colorado 61.25
Western Colorado 56.08
Kansas Sweet NW 60.25
Kansas Sweet SW 60.10
Henry Hub Gas MCF 5.61
Opal WYO Gas MCF 5.36
El Paso-San Juan Gas MCF 5.41
NY Citygate MCF 11.44
CO - W Slope Gas 5.35
CO - E Slope Gas 5.42

Rig Count01/29

As reported by Baker Hughes

State This
Week
Week
Ago
Month
Ago
Year
Ago
Colorado 47 45 41 78
Kansas 22 20 20 16
Montana 4 4 6 4
Nebraska 1 1 1 0
Nevada 4 4 4 6
New Mexico 53 52 49 57
North Dakota 75 72 65 68
South Dakota 0 0 0 0
Utah 22 23 19 23
Wyoming 37 37 39 61
TOTAL US 1317 1282 1189 1472
Canada-Land 529 493 207 431

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