Monday, October 8, 2012

Continental Resources Announces Plans to Triple Production by 2017

Press release here.
  • CLR projects producing 36 million boe for calendar year 2012 --> almost 100,00 boepd
  • CLR plans to grow that production to 108 million boe by 2017 --> almost 300,000 boepd
  • CLR plans to triple proved reserves from year-end 2011 to year-end 2017
  • CLR's estimated proved reserves at mid-2012: 610 million boe
For 2013, CLR plans:
  • production growth of 30 to 35 percent yoy
  • CAPEX: $3.4 billion
  • 738 gross wells; 300 net wells
CLR three areas:
  • Williston Basin Bakken, North Dakota
  • Williston Basin Bakken, Montana
  • Anadarko Woodford, Oklahoma (315,675 net leased acres)
Just how big is 300,000 boepd by 2017?

For comparison, XOM is pushing for 1 million boepd by 2016. There's a huge delta between 1 million and 300,000 but they're (almost) in the same ballpark. Depends, I suppose, on big your ballpark is. My ballpark is pretty big. 

3 comments:

  1. It looks like WPX Energy Williston is the first one I have seen to get the Statigraphic Limits altered down to the top of the Birdbear Formation in the Moccasin -Creek-Bakken Pool. Order 20777 dated 8 Oct 2012.

    ReplyDelete
    Replies
    1. I would assume that if one is approved, the rest will be approved if they make sense geologically.

      Maybe some day we will see an article on this issue.

      Delete
  2. I predict that Continental will be a heavy participant in the numerous undrilled acreages in Eastern MT, specifically,Richland, Roosevelt and Sheridan Counties. Numerous leases in these areas will be nearing expiration in 2013 and 2014.

    ReplyDelete

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