Continental Resources Inc. confirmed the repeatability and growth potential of its new Springer play in the South Central Oklahoma Oil Province (SCOOP) with four new wells drilled in Grady County, Okla.
The Oklahoma City-based company estimates the four new wells – which had an average horizontal lateral length of about 4,475 feet – to have estimated ultimate recovery (EUR) of 940,000 gross barrels of oil equivalent (boe) per well in the oil fairway of the play for a well with a 4,500-foot lateral section. The four recent wells were drilled to an average vertical depth of approximately 12,625 feet and average total measured depth of about 17,650 feet.
“These individual delineation wells in the play are generating excellent returns, with shallow decline rates compared to other unconventional resource plays,” said Continental Chairman and CEO Harold G. Hamm in an Oct. 23 press statement. “We expect to realize even strong well economics as development drilling gets underway utilizing extended laterals, pad drilling, and other drilling and completion efficiencies.”
Next month, the company plans to begin drilling its first extended lateral well in the Springer play, with a planned lateral length of 7,500 feet. Continental expects an average EUR of approximately 1.6 million gross boe for extended lateral wells of this length, reflecting the 67 percent longer lateral.
Continental’s Springer play currently is producing around 6,000 net barrels of oil equivalent per day (boepd), or 9,200 gross boepd. Approximately 70 percent of this production is crude. The company reported that the average completed well cost this year has fallen in line with earlier projections of $9.7 million per well.
Wood Mackenzie told Rigzone earlier this month that it sees great promises and challenges in developing the Springer shale play.
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