Operating in the Williston Basin
Northern focuses its efforts in the Williston Basin, one of America’s most prolific oil producing regions with over 13,000 producing wells stemming from the Bakken and Three Forks oil plays. The area is ideal for leveraging the Company’s strengths, including:
- Acreage footprint of approximately 183,000 net mineral acres in the heart of the Bakken and Three Forks oil plays in North Dakota and Montana.
- Interests in approximately 7,000 gross Bakken/Three Forks oil wells- Northern has participated in ~40% of every well ever drilled in the basin.
- Deep relationships with 40+ regional operators
- Producing approximately 45,000 barrels of oil equivalent per day at year-end 2019.
7.4 Billion Barrels of Recoverable Oil
The United States Geological Survey’s (USGS) assessment of undiscovered, technically recoverable oil in the Bakken was pegged at 7.4 billion barrels in its most recent report. In 2019 the Bakken rig count fell only 5% vs. total Lower 48 rig count falling 26%, and the basin’s production continued its upward trajectory. Oil production has increased ~30% over the last three years and now hovers at ~1.5 MMbopd in early 2020.
