CLR Update - Sept 26

dan_s · Post by **dan_s** » Wed Sep 26, 2018 9:05 am

"Continental Resources' efforts to drive out costs have significantly improved its drilling returns. In 2014, for example, wells drilled in the Bakken would earn a 20% rate of return at $70 oil. This year, however, Continental's wells in the region are delivering a 175% rate of return. The underlying rocks haven't changed; what has is the company's ability to get more oil out for less money. The oil driller has also made significant progress on developing its land in the STACK and SCOOP plays of Oklahoma, where returns on new wells targeting the Springer formation are currently delivering a 215% rate of return at $70 oil."

Read full report here: https://finance.yahoo.com/news/apos-tim ... 00436.html