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Wednesday, January 25, 2012

CLR: 80,000 BOPD Production; Increased Reserves by 40% -- The Bakken, North Dakota, USA

Some numbers rounded as is the usual case for this site.

CLR press release.
Continental Resources, Inc.  reported production of 75,219 barrels of oil equivalent per day (Boepd) for the fourth quarter of 2011, a 57 percent increase over production of 48,034 Boepd for the fourth quarter of 2010 and an increase of 13 percent over production in the third quarter of 2011. Crude oil accounted for 72 percent of Continental 's fourth quarter 2011 production.
Is 80,000 bopd a big deal? CLR's 3Q11 daily production ... drum roll ... 34,000 boepd

So, for me, going from 35,000 to 80,000 in one quarter -- yeah it's a big deal

For those may not remember:
"Two years ago we announced a five-year plan to triple production and proved reserves by year-end 2014. Since December 2009 , we've already doubled production," said Harold Hamm , Chairman and Chief Executive Officer. "We're clearly ahead of plan due to better well performance and increased operating efficiency."

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