Niobrara Shale

Continental Resources Reports Higher Production On Staudinger 1-31H Niobrara Well

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.

Continental Resources Updates Niobrara Activity For Fourth Quarter Of 2011

Continental Resources (CLR) reported an update on its Niobrara operations during the fourth quarter of 2011. The company has four wells in various stages of completion.

The Staudinger 1-31H is the most recent well and is currently producing 461 barrels of oil equivalent (BOE) per day, including 431 barrels of oil.

Continental Resources said that the Marconi 1-1H well is currently producing 150 barrels of oil per day and the Perrin 1-10H and Hahn 1-4H Niobrara wells were put on artificial lift. The company plans to report initial production results on these wells later in 2012.

Continental Resources plans to operate one rig in the Niobrara in 2012, drilling on both 640 and 1,280 acre spacing.