Monday, March 21, 2011

CLR Moves Headquarters to Oklahoma City, Oklahoma -- Quite An Incredible Story -- North Dakota, USA

Continental Resources announced today the company is moving corporate headquarters to Oklahoma City, Oklahoma, part of their strategic plan to triple the size of the company in five years.

This is an incredible story. I don't know what CLR's market cap was in 2007 but today it's about $11 billion. The Bakken made this company what it is and it was the foresight of its CEO and his willingness to stake his company on a new formation and new technology that made is so successful.

The Bakken has been a great run for many folks and for North Dakota, the story is only about four years old. For Montana, Elm Coulee, the story is about eleven years old, and now companies are going back in and refracking/reworking the original wells in Elm Coulee/Bakken.

And it's numbers like this (posted earlier today) that make the Bakken very, very interesting (this is a Whiting well, not a CLR well, but the point is still the same):
The Niemitalo 31-15XH (#19502) runs parallel to the Kinnoin 11-14H (#17081) which had an IP of 3,311, and has produced 534,267 bbls of oil as of 6/12. It was spudded 8/08.  (At $50/bbl, 400K bbls = $20 million.) 400,000 bbls in less than three years and it continues to produce at 10,000 bbls/month (at $75/bbl, 3/4 of a million dollars every month); t2/11; cum 426K 7/17; cum 517K 11/23;
Monthly production:
PoolDateDaysBBLS OilRunsBBLS WaterMCF ProdMCF SoldVent/Flare
BAKKEN7-20173125102449339270526430
BAKKEN6-20173024032452428246424040
BAKKEN5-20173127032670368275626940
BAKKEN4-20173028603043369279427340
BAKKEN3-201731301128734392804272121
BAKKEN2-201728274926923332419233231
BAKKEN1-2017312996320130724002187151
BAKKEN12-2016313206308438223692128180
BAKKEN11-20162929332908408226722090
BAKKEN10-2016313205316640423681609697
BAKKEN9-20163030473041397216021000
BAKKEN8-20163132063258487222821579
BAKKEN7-20163135193453460247824160
BAKKEN6-20163033913494465223921790
BAKKEN5-20163138153893540253424720
BAKKEN4-20163039513805482252724670
BAKKEN3-201631385138336062257210887
BAKKEN2-2016283204323612231255112970
BAKKEN1-2016293577355613371530138886
BAKKEN12-2015313944447014301769162978
BAKKEN11-2015303269282514671655152273
BAKKEN10-2015231975193410269899440
BAKKEN9-201521190818764031880179643
BAKKEN8-20153130453047641323031680
BAKKEN7-20153131313136729329432266
BAKKEN6-2015302978298461931242860204
BAKKEN5-201531321432256343053296130
BAKKEN4-201530325732186442916280353
BAKKEN3-20153133413437700327432120
BAKKEN2-20152832383166636312930730
BAKKEN1-201531357035347003174309616
BAKKEN12-201431369637935173039289681
BAKKEN11-201430369337995973132303438
BAKKEN10-20143139063726460309930370
BAKKEN9-201430417542864303038296018
BAKKEN8-20143144374634454310830460
BAKKEN7-201431458042784962958280987
BAKKEN6-20142534313530593255625110
BAKKEN5-20143144254433600339733350
BAKKEN4-2014304715462354434522695697
BAKKEN3-20143152125634761367825731043
BAKKEN2-201427477548508782793273210
BAKKEN1-201428510948551010257625210
BAKKEN12-20133158216413145434133233118
BAKKEN11-201330605756361537343433740
BAKKEN10-2013315851580415413099302315
BAKKEN9-201328521653591316279627400
BAKKEN8-2013305879566814052957281681
BAKKEN7-201331456344291031248224200
BAKKEN6-201313130112963609769520
BAKKEN5-20133038324031583326932100
BAKKEN4-20133044914355825345633960
BAKKEN3-201331584659091004408440220
BAKKEN2-20132853925356905341333525
BAKKEN1-201331612961631022396138990
BAKKEN12-201231571060961046455944970
BAKKEN11-201230705067111438437143110
BAKKEN10-20123176587633110645524234256
BAKKEN9-201228730671759923951387224
BAKKEN8-20123169347391813345133838
BAKKEN7-20123170626972832342533558
BAKKEN6-20123074187554855370336430
BAKKEN5-201231898687681019490848460
BAKKEN4-201228830683301029521351508
BAKKEN3-2012319998101431378654864860
BAKKEN2-2012299073982393554255150217
BAKKEN1-20123197408381261554495281106
BAKKEN12-201175909631048854102742
BAKKEN11-20111753675833130174001710
BAKKEN10-2011281059610801352344813394
BAKKEN9-2011221215611383324387203835
BAKKEN8-2011251301413705452467004625
BAKKEN7-2011271601715626629546811234295
BAKKEN6-2011301432014920819760075420
BAKKEN5-2011267501752958938012823935
BAKKEN4-201130105151039280256205420140
BAKKEN3-201131188301856313691049592631170
BAKKEN2-20111311869109364491608833562707

No comments:

Post a Comment

Note: Only a member of this blog may post a comment.