Continental Resources Confirms Springer Success | Russell T. Rudy Energy LLC
“Rigzone” reports that Continental Resources, Inc. has announced 4 more wells in the Springer shale play in the South Central Oklahoma Oil Province (SCOOP). The operator estimates that the Grady County wells will have an estimated ultimate recovery (EUR) of 940,000 barrels of oil equivalent each. The wells averaged a vertical depth of 12,625 feet and lateral lengths of 4,475 feet.
Continental stated that the wells in the Springer are yielding excellent returns with what are shallow decline rates for an unconventional play. Next month the company will begin drilling its first extended lateral in the area with a planned length of 7,500 feet. With these extended laterals, the operator predicts EUR’s of 1.6 million barrels per well.
Continental’s Springer wells are currently producing about 9,200 barrels of oil equivalent per day, about 70% of which is crude. Well costs are now averaging $9.7 million per well.
To read the article in its entirety, please go to www.rigzone.com/news/oil_gas/a/135596/Continental .
