REI Energy partners with major operators in the Bakken-Three Forks to utilize the latest in drilling technology to reduce dry hole risk and increase the likelihood of drilling productive wells. Many of REI Energy's wells today utilize horizontal drilling technology and are currently being drilled with 28-42 fracture stages. Within five years, U.S. oil production is expected to increase 20% because of multi-stage fracturing technology.
Areas of Operation
REI sponsored partnerships collectively own interests in over 1,000 oil and natural gas wells in the continental United States. Our areas of activity include Bakken and Three Forks areas in North Dakota, the Eagle Ford Shale in South Texas, the Permian Basin in West Texas and Southeast New Mexico, and the Mid-Continent Region in Texas and Oklahoma.
Currently, our core area of activity is concentrated in the Bakken and Three Forks areas in North Dakota (the “Bakken”). REI has made several large acquisitions in the Bakken and managed Bakken assets for many years now. Choosing REI as your partner means choosing a company that has a solid history and deep understanding of one of the most active unconventional plays in the United States. REI expertise in the Bakken is backed by our current activity, which includes sponsoring and managing partnerships that currently own over 800 producing wells in the region and have participated in the drilling of over 600 Bakken wells.
REI’s professional staff consists of experienced geologists, engineers, accountants, attorneys and landmen. Collectively, they have over 30 years of average experience. REI’s staff possesses the knowledge and experience necessary to source and evaluate prospects from a diverse number of geographical regions. Currently, REI’s efforts are focused in the Bakken and Three Forks areas in North Dakota, the Eagle Ford Shale in South Texas, the Permian Basin in West Texas and Southeast New Mexico, and the Mid-Continent Region in Texas and Oklahoma.
We evaluate all prospective acquisitions on the basis of their oil and natural gas producing potential. Key screening criteria include:
- Production history
- Life expectancy of the oil and gas assets
- Level of diversification
- Growth potential
- Status of operations.
In order to thoroughly analyze all of these factors, REI utilizes a standard evaluation method to ensure it includes assets of the highest quality in its partnerships.
The Bakken Formation
The Bakken-Three Forks formations is rapidly emerging as potentially the largest contiguous deposit of oil and natural gas ever surveyed by the U.S. Geological Survey (USGS) in the United States and encompasses approximately 125,000 square miles (80,000,000 acres) in North Dakota, Montana and parts of Canada.