The Bakken pool is a resource play in southeast Saskatchewan with original oil in place estimated at 5 billion boe of light sweet oil and associated natural gas and liquids. The pool is the second largest conventional light oil pool discovered in Western Canada, and is the largest conventional pool discovered in more than 50 years in Western Canada. Crescent Point has a dominant and controlling position in this play, with production of more than 18,000 boe/d, 304 net sections of undeveloped land in the heart of the play and 1,208 net development drilling locations. As of December 2008, only 535 of these locations have been booked to reserves by third party reserves engineers.
Recovery to date at the Viewfield Bakken resource play is 0.6 percent, with independent engineers booking a recovery factor of 5.8 percent as of year end 2008. Crescent Point’s Bakken technical team expects that a recovery factor of 15 percent is achievable at four wells per section. Detailed simulation work suggests up to 19 percent recovery is possible at eight wells per section. At 19 percent recovery, the Corporation's proved plus probable reserves would increase by 219 mmbbls, which is more than a double of current proved plus probable reserves.
As of December 31, 2008, CPG has drilled 489 gross (401 net) Bakken wells. Utilizing a series of improvements to the fracture stimulation technology, the Corporation increased average initial post fracture stimulation production rates to more than 200 boe/d per well.
Typical Bakken Section
Crescent Point typically drills four horizontal wells per section in its Bakken play. The wells are then fracture stimulated along the length of the well using a multi stage fracing system. This serves to increase flow rates and recovery factors. Over time the Corporation plans to increase well density to eight per section, with the four additional wells being added between the existing four wells. Recovery rates would be expected to increase by 5 percent with the eight well per section density, resulting in millions of additional barrels of reserves.
Multi-Stage Fracturing System
Multi-stage frac technology, like the Packers-Plus system shown below, enables fracs to be placed (created) accurately in regular intervals throughout the entire horizontal section of the well.
