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Continental cuts Springboard costs, increases Springer EURs
At Project Springboard in Oklahoma’s SCOOP play, Continental Resources is raising its Springer shale EURs and lowering projected development costs. The prior 1.2 MMboe type curve was increased to 1.3 MMboe, which is expected to generate 60-90% rates of return at $50-$60/bbl WTI. Lateral lengths are being increased to 9,800 ft from 7,500 ft, resulting in fewer wells in the project and a $125 million savings in development costs. The 30% increase in lateral......
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