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Continental's Q2 STACK Wells Outperform: 3,538 BOEPD, 9,000' Lateral
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Continental Resources, Inc. reported a net loss of $119.4 million, or $0.32 per diluted share, for the quarter ended June 30, 2016.
Key Points: New STACK Completions Extend Oil Window West: Madeline 1-9-4XH Flows at 3,538 Boe per Day (71% Oil); Frankie Jo 1-25-24XH Flows at 2,627 Boe per Day (56% Oil) Outstanding STACK Well Results Highlights: Increase 2016 Production Guidance to 210,000 to 220,000 Boe per Day Capital Budget Remains Unchanged Production Expense Outlook Reduced $0.50 per Barrel of Oil Equivalent (Boe) Enhanced Completions in SCOOP Woodford Oil Window Increase Estimated Ultimate Recovery (EUR) by ~30% to 1.3 Million Boe per Well (62% Oil) for 2-Mile Laterals Company Agrees to Sell Non-Strategic SCOOP Leasehold for $281 Million, with Proceeds to Be Applied…- ✓ Full news archive — U.S., Canada & international coverage
- ✓ A&D transactions — asset deals, corporate M&A, assets for sale
- ✓ Permits & completions data, plus 900,000+ slides & presentations
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