Continental Resources (CLR) held a conference call on February 25, 2010, to discuss its fourth quarter of 2009 earnings report. The company reported the completion of the Brown 1-2H well located 40 miles to the northwest of the Cana field.
“This was confirmed by results for our exploratory Woodford shale test drilled approximately 40 miles northwest of the Cana and Dewey County. This well called the Brown 1-2H, which we own 100% working interest has been producing for approximately five months and is producing every bit as well as our Young 2-2H, which we completed on the western edge of the Cana Field in September of 2009.”
“The Brown started producing at 4.2 million cubic feet of gas and 102 barrels of oil per day and has cumulated 455 million cubic feet of gas and 7,700 barrels of oil in its first five months online. The Brown currently produces an average rate of 3.2 million cubic feet a day and 52 barrels of oil per day."
"The Young 2-22 initially produced 6.8 million cubic feet of gas per day and has accumulated a total of 750 million cubic feet of gas during its first six months online. It continues to float an average rate of 4 million cubic feet of gas per day. By comparison, these wells performing better than tighter by other operators in the Cana Field.”
Source: Seeking Alpha