Bakken Shale

Continental Resources Reports On Bakken Activity

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:

Dunn County

Bonney 2-3H – 1,765 BOE

Roadrunner 1-15H – 1,722 BOE

Medicine Hole 2-27H – 1,702 BOE

McKenzie County

Rollefstad 2-3H – 1,714 BOE

Mack 2-2H – 1,471 BOE

Ravin 1-1H – 1,300 BOE

Other Counties

Howard 1-5H - Divide County – 1,201 BOE

Bjella 1-24H - Williams County – 1,029 BOE

Continental Resources Reports Seven Bakken Shale Completions

Continental Resources (CLR) reported the completion results of seven wells recently drilled into the Bakken Shale. The well names, locations and the 24-hour production rates in barrels of oil equivalent (BOE) are as follows:

Dunn County Bakken Shale

The Roadrunner 1-15H well produced 1,722 BOE per day, the Medicine Hole 2-27H produced 1,702 BOE per day and the Bonney 2-3H produced 1,435 BOE per day.

McKenzie County Bakken Shale

The Rollefstad 2-3H well produced 1,689 BOE per day and the Ravin 1-1H produced BOE 1,034 per day.

Other Bakken Shale

The Howard 1-5H well located in Divide County produced 1,201 BOE per day and the Bjella 1-24H well located in Williams County produced 1,029 BOE per day.