Goodson 1-28H is a three forks test well in the hamlet field. Is it good to have a test well? Is it a good area and will they drill into other formations other than Three Forks?
Richard:
The Hamlet Field size is about one Township in size and looking at the map, appears the majority of the field is HBP unless existing leases contain pugh clauses. Several old Madison Formation wells (approx. 6) which are vertical wells are still producing after 38 years from what I have read. Not sure about the future plans for this field but Continental Resources is a major player in this area and if there is potential in other zones, they would most likely drill over time.
Continental Resources is who we deal with, my main question is being a Three Forks well there a good thing? Isn't that a deeper formation? Is that the only place to find oil there? I just see a lot of action all around and I assume they are not Three Forks wells.
Richard, I would say that is going to be a good profitable well, not the best but nothing wrong with it. I think the Bakken will also be productive in that area, profitable if not spectacular wells.