Continental Resources (CLR) issued an operations update for the fourth quarter of 2011and disclosed additional information on the company’s activity in the Niobrara Shale.
Continental Resources reported that the Staudinger 1-31H well is now producing 739 barrels of oil equivalent (BOE) per day. This is above the initial rate of 461 BOE per day reported for the Staudinger 1-31H well in January 2012.
Continental Resources has approximately 93,339 net acres prospective for the Niobrara and estimates that 25,000 net acres have been de risked to date by the company and other operators. The company plans to drill 14 gross or 9 net wells into the Niobrara in 2012.