Valkyrie Operating, LLC is a Divide County-focused Bakken operator with a current portfolio of 18 total wells (11 active, 10 producing) that is executing an aggressive regulatory land-grab ahead of a large-scale development push. As of August 27, 2026, all 5 pending cases are spacing-unit applications in Divide County, all heard on the same date, collectively seeking authorization across multiple Bakken pools — Big Dipper, Colgan, Gooseneck, West Ambrose, and Fortuna. The operator carries a 100% win rate on record, a 98% average progression probability across its active docket, and 60 wells already authorized — a pipeline that dwarfs its existing footprint and signals a fundamental step-change in scale.
Every active regulatory case Valkyrie has pending sits in Divide County, North Dakota, targeting the Bakken formation across five named pools: Big Dipper, Colgan, Gooseneck, West Ambrose, and Fortuna. The geographic footprint spans Townships 162N–163N, Ranges 100W–101W. All 5 cases are spacing-unit applications with a shared hearing date of August 27, 2026. Case 32701 is the largest single authorization request at 30 wells across all five pools; cases 32700, 32702, and 32514 each seek 5–10 wells in sub-areas of the same township block. Case 32951, covering Fortuna-Bakken sections in T.162N., R.101W., is the only case still in 'continued pending' status, having first been heard June 25, 2026.
Valkyrie's current well inventory stands at 18 total wells: 11 active, 10 producing now, and 2 plugged. The producing-now count sitting just below the active count suggests minimal shut-in exposure. The plugged count, while small in absolute terms, is notable relative to the total portfolio size and points to active rationalization of the legacy asset base. Work types on record span the full development cycle — drilling rigs, frac crews, frac sand, new-pad dirt and construction, and water logistics and trucking — confirming Valkyrie is operationally equipped (or contracting) for a multi-well pad program, not just single-well workovers.
Valkyrie's 5 pending cases carry an average progression probability of 98% and a win rate of 100% on the cases where that signal is populated. Four of the five cases have already 'progressed to order' in the pipeline (stage rank 2); only case 32951 remains at the 'continued' stage (stage rank 1). The highest-confidence individual case is 32951 at 100% progression probability; the lowest is 32702 at 95.2%, targeting Gooseneck-Bakken and Fortuna-Bakken on a 2560-acre unit. Case 32701 — the 30-well, multi-pool omnibus application — carries a 98.5% probability and first appeared at hearing on March 26, 2026, indicating it has been in process for several months before the August consolidation date. No recent signed orders are on record yet, meaning the full 60-well authorization remains in the pipeline rather than in hand.
The picture that assembles across portfolio, docket, and momentum data is of an operator at an inflection point. A lean 18-well base — with 2 already plugged — is being used as the platform for a 60-well authorization push concentrated entirely in one county, one formation, and one hearing date. The ramp metric of 63.8 and a perfect win rate together suggest Valkyrie has both the regulatory track record and the current commission relationship to execute this expansion. Service vendors across the full pad-development stack (rigs, frac, sand, construction, water) are already in the work-type profile, indicating the operational infrastructure conversation has begun. The single open question is capital: a buildout of this magnitude from an 18-well base requires a funding event or partner that is not yet visible in the public docket.
| Case | County | Pool | Precision | Map |
|---|---|---|---|---|
| 32951 | Divide | Fortuna-Bakken | legal | 📍 map |
| 32701 | Divide | Big Dipper-Bakken, Colgan-Bakken, Gooseneck-Bakken, West Ambrose-Bakken, Fortuna-Bakken | legal | 📍 map |
| 32700 | Divide | Colgan-Bakken, Big Dipper-Bakken | legal | 📍 map |
| 32702 | Divide | Gooseneck-Bakken, Fortuna-Bakken | legal | 📍 map |
| 32514 | Divide | Fortuna-Bakken | legal | 📍 map |