Continental Resources logs new record STACK Meramec well

Continental Resources Inc. flowed 4,6642 boe/d (45% oil) in its 24-hr test of the Angus Trust 1-4-33XH well, which is immediately north of the Boden 1-15-10XH well in south-central Blaine County, Okla. Continental referred to its Angus Trust well as “a new company record” in the over-pressured Meramec oil window of the Oklahoma STACK play. The test yielded 2,088 bbl of oil and 15.3 MMcf of gas flowing at 5,200 psi.

At completion, the Boden 1-15-10XH produced 3,508 boe (28% oil) with a flowing casing pressure of more than 5,000 psi. According to Continental, Boden was its first completion in the condensate window of the STACK. In just over a year, the well has produced 591,000 boe with current production at 1,815 boe/d at a pressure of 2,900 psi.

Continental estimates its total completed well cost for the Angus Trust is $8.9 million, a 30% reduction from the cost of its Boden well. Both wells were completed similarly with 9,500-ft laterals in 36 stages and 20 million lb of white sand.

The company cited strong production in North Dakota and Oklahoma in 2016 and has increased its yearend estimate at 213,000-218,000 boe/d and expects to maintain this level through first-quarter 2017. The company’s previous guidance was 205,000-210,000 boe/d. In February, Continental reduced its annual capex to $920 million from its planned $2.7 billion (OGJ Online, Feb. 8, 2016).

Continental has a 78% working interest the Angus Trust well.

Contact Tayvis Dunnahoe at tayvisd@ogjonline.com.

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