Whiting Petroleum Corporation (WLL) issued an operational update on its oil and gas exploration and development activities, and provided information on its Niobrara Shale properties.
Whiting Petroleum Corporation has built a position of 86,140 gross, or 64,240 net acres that are prospective for the Niobrara Shale in Colorado. The company is adding to its acreage here and expects to start drilling its first Niobrara Shale well during the first six months of 2011.
Whiting Petroleum Corporation reported that the company has 53,000 gross, or 32,000 net acres in the Hatfield Prospect, located in Carbon County, Wyoming. The Niobrara Shale is present at a depth of 3,500 feet here, and vertical wells are expected to cost from $1.0 to $1.5 million here. The company plans to start drilling two vertical wells here in November 2010.