Continental Resources (CLR) issued an operational update on its properties in Montana and North Dakota that are prospective for the Bakken and Three Forks formation.
Continental Resources said that the company expects to produce 20.6 million barrels of oil equivalent (BOE) in 2011, a 30% increase over 2010 production. The company has allocated $1.36 billion in capital expenditures in 2011, with a large part dedicated to developing the Bakken formation.
Continental Resources is continuing to add acreage in the play, and now has 864,559 net acres exposed to the Bakken formation. The company completed 26 gross, or 16.4 net wells in the Bakken Shale during the third quarter of 2010. The well names and the 24 hour production test rates are:
Bonney 2-3H – 1,765 BOE
Roadrunner 1-15H – 1,722 BOE
Medicine Hole 2-27H – 1,702 BOE
Rollefstad 2-3H – 1,714 BOE
Mack 2-2H – 1,471 BOE
Ravin 1-1H – 1,300 BOE
Howard 1-5H - Divide County – 1,201 BOE
Bjella 1-24H - Williams County – 1,029 BOE