Question-and-Answer Session
Operator
(Operator instructions) Your first question comes to the line of Scott Hanold of RBC Capital Markets. Please proceed.
Scott Hanold – RBC Capital Markets
Thanks. Good morning.
Vaughn Vennerberg
Good morning.
Bob Simpson
Good morning.
Scott Hanold – RBC Capital Markets
Keith, looking at that Bakken result, it was pretty strong at over 2,000 barrels a day. Is there any thought on getting a little bit more aggressive there? I mean, oil looks like its sustaining $50 plus per barrel. I was kind of a little bit surprised here you’re holding that well back a little bit.
Keith Hutton
Well, we’re just – we could. I mean, if process keeps coming, we probably will stop.
Scott Hanold – RBC Capital Markets
What do you think the right price of the Bakken is and from your perspective to get more aggressive there? Do you need to see a fixed handle on it?
Keith Hutton
Yes. I mean, right now, what we’re doing is just basically delineating. We really need three rigs to delineate the acreage we have; and so, we’re just trying to hold our capital down at the moment and we’ll be able to jump on it if prices start coming. So it’s just a steady as she goes type maneuver.
Scott Hanold – RBC Capital Markets
Okay. And then those super pads, can you tell us about how you’re orientating those well bores? Are they going to be – basically, almost testing the concept whether the Three Forks in the Bakken are separate and all? I mean, are they going to be effectively within the same section?
Keith Hutton
They are not. There are four different – 12 80-acre units going north and south, but you’re getting in to the answer is we’ll be testing to see if we think we’re breaking those Three Forks wells up into the Bakken or not. We don’t think it is in this particular area, so what we’re hoping to do here that is come back and drill both in three forks. On the section, we’re drilling Bakken; and Bakken on the sections, we’re drilling Three Forks.
Scott Hanold – RBC Capital Markets
It has to be done on the same path as well?
Keith Hutton
Yes. So we just set up a big pad to be able to drop some of our cost to drill pads and so forth. Work with landowners up there to tip down our footprint where we were drilling and then you put a big tight battery all in one spot. It just kept some of your costs from that standpoint.
- To read the full transcript on Seeking Alpha, click here »
