Continental Resources
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| Enid, Oklahoma-based '''Continental Resources''' (NYSE: CLR) is an oil and gas exploration company with operations concentrated in the Rocky Mountain area and in the State of Oklahoma. It is also active in Michigan's [[Trenton-Black River]] play. By year-end 2008, the company was reporting that its net prospective [[Trenton-Black River]] leasehold in Michigan amounted to over 52,000 acres (65,000+ gross). It had 40 square miles of 3-D [[seismic testing|seismic]] covering this acreage. | Enid, Oklahoma-based '''Continental Resources''' (NYSE: CLR) is an oil and gas exploration company with operations concentrated in the Rocky Mountain area and in the State of Oklahoma. It is also active in Michigan's [[Trenton-Black River]] play. By year-end 2008, the company was reporting that its net prospective [[Trenton-Black River]] leasehold in Michigan amounted to over 52,000 acres (65,000+ gross). It had 40 square miles of 3-D [[seismic testing|seismic]] covering this acreage. | ||
| - | <center>http://www.sonic.net/~tcopley/img/Continental/aapy_basin_map.gif<br>'''Continental Appalachian Basin Leasehold'''<br>Map courtesy of [http://www.contres.com/ Continental Resources Inc.]</center> | + | <center>http://www.sonic.net/~tcopley/img/Continental/aapy_basin_map.gif<br>'''Continental's Appalachian Basin Leasehold'''<br>Map courtesy of [http://www.contres.com/ Continental Resources Inc.]</center> |
| It was reported in August, 2008 that Continental had drilled several successful oil wells to the [[Trenton-Black River]] formation on leases roughly 30 miles south-southwest of the City of Jackson in Hillsdale County, Michigan. One of these wells was located on the McArthur farm off Culbert Road, north of Pittsford. The Hillsdale County field is the largest oil field in Michigan. It is considered to be an extension of the ''Albion-Scipio'' field. | It was reported in August, 2008 that Continental had drilled several successful oil wells to the [[Trenton-Black River]] formation on leases roughly 30 miles south-southwest of the City of Jackson in Hillsdale County, Michigan. One of these wells was located on the McArthur farm off Culbert Road, north of Pittsford. The Hillsdale County field is the largest oil field in Michigan. It is considered to be an extension of the ''Albion-Scipio'' field. | ||
Revision as of 22:18, 24 March 2010
Enid, Oklahoma-based Continental Resources (NYSE: CLR) is an oil and gas exploration company with operations concentrated in the Rocky Mountain area and in the State of Oklahoma. It is also active in Michigan's Trenton-Black River play. By year-end 2008, the company was reporting that its net prospective Trenton-Black River leasehold in Michigan amounted to over 52,000 acres (65,000+ gross). It had 40 square miles of 3-D seismic covering this acreage.
It was reported in August, 2008 that Continental had drilled several successful oil wells to the Trenton-Black River formation on leases roughly 30 miles south-southwest of the City of Jackson in Hillsdale County, Michigan. One of these wells was located on the McArthur farm off Culbert Road, north of Pittsford. The Hillsdale County field is the largest oil field in Michigan. It is considered to be an extension of the Albion-Scipio field.
Other Continental wells in the area include the Anspaugh 1-1 and Wessel 1-6, both drilled in February, 2008, and the Boardman 1-1 and Wessel 26-A, completed in June, 2008. A sixth well was still being flow-tested at the time of the report, and may be completed at a later date. All of the wells were off Pittsford and Culbert Roads.
Continental believed these 6 wells were capable of producing up to 5,000 barrels of oil per day, yet these were limited by Michigan regulations to producing only 110 bbl/d (now 200 bbl/d). According to the company web site, these wells produced 550 gross bbl/d during December, 2008. 3 of the 6 completed wells were capable of producing in excess of the 200 bbl/d regulated flow-rate. A gathering pipeline for these wells was in the process of being built.
3-D seismic testing was underway for about 20 square miles of this field during the summer of 2008.
Continental was also developing a large leasehold position in unconventional shale plays including the Marcellus and Huron shales. During 2008 the company added roughly 325,000 net acres to its leased acreage in shales. Its total shale acreage was 1 million acres.
- Harold Hamm is Continental's CEO and founder.
- Richard Straeter is President of Continental Resources’ Eastern Division.
