Oklahoma 2018

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OKLAHOMA: KEY PLAYERS 16 | November 2018 | Continental Resources Inc. Based in Oklahoma City, Continental Resources' Oklahoma focus areas are the Scoop Woodford, Scoop Springer, Stack and the Northwest Cana plays. The E&P company holds 691,000 net reser- voir acres in the Scoop and 466,000 net reservoir acres in the Stack (as of Aug. 28). The company reported second-quarter 2018 Scoop/Stack production of 116,508 boe/d, up 25% over the second quarter last year, according to an August investor presentation. Continental's Scoop production averaged 64,786 boe/d, as it completed 16 gross (13 net) operated wells with first production in the second quarter of 2018. Additionally, the company's Project Spring- Board is a multiyear, stacked-pay oil development project within the Scoop. The project covers 70 sq miles and includes about 45,000 gross (31,000 net) contiguous acres where the company expects to drill approximately 100 Springer wells and up to 250 Woodford and/or Sycamore wells. In the Stack, Continental completed 26 gross (13 net) operated wells with first production in the second quarter. The company's Stack production increased 62% to 51,722 boe/d in the second quar- ter of 2018 compared to the second quarter of 2017. Continental is also the largest producer in the Bakken Shale, centered in North Dakota. Devon Energy Production Co. LP Founded in 1971, Devon Energy Production Co. LP offers crude petroleum and natural gas E&P services and operates as a subsidiary of Devon Energy Corp. Devon Energy Corp.'s Stack position consists of more than 600,000 net acres in the overpres- sured oil window of the play. "Devon's operations in the Stack are currently focused in the oil-prone Meramec and the liquids-rich Cana-Woodford Shale," the company stated on its website. "Recent well completion design enhancements have contin- ued to improve economics, which are among the highest in the company's portfolio." The company reported 2017 production of 107,000 boe/d (52% liquids) and reserves of 456 MMboe in the Stack play as well as a 2018 E&P capital of $700 million, according to information on Devon's website. In the first quarter of 2018, the company's Stack oil production increased 68% compared to the same quarter a year earlier, and the top wells averaged 30-day IP rates of about 3,500 boe/d, according to Devon's first-quarter 2018 oper- ations report. Net Stack production in the first quarter was 129,000 boe/d with nine operating rigs and 3.5 fracturing crews. In the second quarter, Devon reported 35,000 bbl/d of oil, 38,000 bbl/d of NGL, 352 MMcf/d of gas and 132,000 boe/d total, according to the com- pany's second-quarter 2018 results report. In the second quarter, "total production in the Stack advanced 26% compared to the sec- ond quarter of 2017. Driven by several strong wells across the play, oil production delivered the highest growth rate, increasing 41% year over year," the report stated. The company expects to have more than 100 new operated wells online for full-year 2018, target- ing the higher return Meramec Formation, accord- ing to the report. The company also anticipates multizone projects to accelerate production growth in the second half of the year. EOG Resources EOG Resources is an independent crude oil and natural gas company that operates in most of the major plays in the U.S. as well as in Trinidad, the U.K. and China. In 2017 the Woodford oil window in Okla- homa became one of the company's high-return drilling locations. This year "EOG continued development of its new oil play in the Woodford Formation of the Eastern Anadarko Basin. In the first quarter, EOG increased drilling operations to three rigs and added a fourth rig in April," according to the company's first-quarter 2018 results press release. Production began from one well during the quarter. The Terri 1621 #1H well was com- pleted with a treated lateral length of 10,200 ft and a 30-day IP rate of 1,395 boe/d, or 1,140 bbl/d of oil, 165 bbl/d of NGL and 0.5 MMcf/d of natural gas, the release stated.

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