Continental Resources Reports Record STACK Meramec Well

Source: www.gulfoilandgas.com 12/13/2016, Location: North America

Continental Resources, Inc. announced a new Company record well in the over-pressured oil window of the Oklahoma STACK play. The Angus Trust 1-4-33XH produced 4,642 barrels of oil equivalent (Boe) per day in a 24-hour test, comprised of 2,088 barrels of oil (Bo) and 15.3 million cubic feet (MMcf) of natural gas. During this initial production test, the Angus Trust flowed at 5,200 psi (pounds per square inch). Continental has a 78% working interest in the well.

The Angus Trust well is located immediately north of Continental's Boden 1-15-10XH in south central Blaine County. The Boden produced an initial 24-hour test rate of 3,508 Boe, 28% oil, at a flowing casing pressure of more than 5,000 psi. The Boden was Continental's first completion in the condensate window of the over-pressured STACK. In just over a year, the Boden has produced 591,000 Boe, 26% oil. The Boden is currently producing 1,815 Boe per day, 22% oil, at a flowing casing pressure of 2,900 psi.

"The Angus Trust is another tremendous STACK Meramec well," said Harold Hamm, Chairman and Chief Executive Officer. "Aside from being a Company record well, it further validates our perspective of the extent of the over-pressured oil window."

The Company estimates its total completed well cost for the Angus Trust is $8.9 million, approximately 30% less than the Boden. The Angus Trust's 9,500-foot lateral was completed in 36 stages, with 20 million pounds of white sand, similar to the Boden. December Production Exit Rate Revised Higher

As a result of strong production in both North Dakota and Oklahoma, the Company has increased its expected production exit rate for December 2016. The Company now expects to exit 2016 with production in a range of 213,000 to 218,000 Boe per day, compared with the previous guidance range of 205,000 to 210,000 Boe per day. The Company expects to maintain approximately this production level through the first quarter of 2017.


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Related Categories: Artificial Lift  Cementing, Stimulation  Directional Drilling  Drilling  Drilling Engineering & Equipment Systems  Enhanced Oil Recovery  General  Logging, Perforating, Testing  Offshore Drilling  Reservoir/Completion Consultants  Workover & Well Services  Workover Rigs/Services 

Related Articles: Artificial Lift  Cementing, Stimulation  Directional Drilling  Drilling  Drilling Engineering & Equipment Systems  Enhanced Oil Recovery  General  Logging, Perforating, Testing  Offshore Drilling  Reservoir/Completion Consultants  Workover & Well Services  Workover Rigs/Services 


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