Regular readers already know about this one.
Motley Fool has a short article on the SCOOP.
According to Continental, SCOOP is a "world-class resource." The
field straddles the Woodford Shale and the Anadarko Basin and covers an
area about 3,300 square miles in size. And at its thickest, the pay-zone
is 400 feet deep, twice as thick as the Bakken.
Continental believes the 330,000 net acres it operates in the area
will produce 1.8 billion barrels. To put that into perspective, that's
equal to more than half of the oil recovered in 100 years of
conventional drilling in Oklahoma. And the company estimates that those
wells will generate returns on investment of between 40% and 55% based
on $3.50 gas and $90 oil.
In total, the company estimates SCOOP could hold 70 billion barrels
of oil in place. Considering the upside in this play, other operators
are rushing in to get a piece of the action.
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