Executive leadership of Oklahoma City’s Continental Resources held a conference call this week where they updated goals for the company’s big Project SpringBoard in the state’s SCOOP play.
Leaders told investors they believe the project will increase the firm’s oil production by 10 percent between the third quarters of 2018 and 2019.
Continental Resources’ president Jack H. Stark said up to 335 wells could possibly be drilled in SpringBoard.
“The geology of SpringBoard is well defined based upon the exceptional amount of subsurface well control and proprietary 3-D seismic data we have available. These are prolific flowing oil wells,” he said during the call.
Continental has already completed 18 wells on the first row of the SpringBoard project and the average daily initial production was nearly 1,300 barrels of oil equivalent per well. And the production is in line with what company leaders had expected.
