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.