Continental Resources (CLR) held a conference call on February 25, 2010, to discuss its fourth quarter of 2009 earnings report. The company has expanded its acreage in the Anadarko Woodford Shale, and believes that it has expanded that field beyond the current areas considered productive.
Woodford Shale Acreage
“Of the 200,000 net acres in the Anadarko Woodford shale play, we have 124,000 net acres in the area we refer to as northwest Cana, which includes 43,700 net acres in what other operators define as the core Cana. The remaining of our position, 76,000 net acres is in the area of we refer to as southeast Cana, extending in the southeast of the core Cana and the portions of Caddo, Grady and McClain counties.”
“We increased our acreage position in the emerging Anadarko Woodford play to approximately 200,000 net acres. This includes 51,500 net acres leased since yearend 2009. This investment reflects our broader perspective that the true productive areas of the Anadarko Woodford goes well beyond the Cana Field.”
“Approximately 65% of our acreage in Anadarko Woodford play is in the area we call Northwest Cana in Blaine, Custer and Dewey Counties, extending from the Brown well to and including the Cana Field.”
“Approximately 23% of our Northwest Cana acreage is held by production. The remaining Anadarko Woodford acreage is located in the area we call Southeast Cana, also including parts of Caddo, Grady and McClain counties.”
Source: Seeking Alpha