Continental and Burlington have requested that sixteen additional sections be divided into 1280 acre drilling units for Bakken development. The new area of interest is primarily under the Killdeer Mountains in the west half of T. 146, R.96, and several sections in the extreme northern tier of T.145, R.96 and the extreme nothwestern sections in T.145, R. 95.
If these new wells are drilled, almost three entire townships will have been drilled or spaced for wells in the area encompassing T.146, R.94 through 96 and areas immediately north and south of these townships. Currently Continental/Burlington and Marathon have six rigs running in this area, and it is without question one of the hottest Bakken areas in the state.
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Continental Res. is attemping to cover its federal land bank leases that will exspire in a year and a half. They are also currently agressivly leasing in these areas as clean up.
Whoever they are leasing from, I hope it is $500/acre or more as that is what each company has to pay the other if they want to purchase the other's interest in their "area of mutual interest."
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