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Continental Blowing Down Bakken DUCs; Meramec Flows 2600 BOE/D
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Continental Resources reported a net loss of $109.6 million for Q3 2016.
Key Points: Plans to increase well completions in 2016 by 32 to a total of 119 gross operated wells (37% increase) (29 Bakken / 33 SCOOP / 25 Northwest Cana JDA / 32 STACK Meramec). Plans to increase from two to four stimulation crews in North Dakota by year-end 2016 Highlights: First STACK Density Test Flows at Combined Initial Peak Rate of 21,354 Boe per Day (70% oil) from Eight Meramec Wells; Seven New Wells Flow at Average Well IP of 2,653 Boe per Day Company Initiates Development in STACK Over-Pressured Oil Window Bakken Enhanced Completions Yield Company Record Initial 30-Day Production Rates Company Begins Working Down Uncompleted Bakken Wells Annual Production Guidance Raised and Production…- ✓ Full news archive — U.S., Canada & international coverage
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