CLR - Continental Resources: An Update On Project SpringBoard
Continental Resources (CLR) has provided an update about Project SpringBoard, the SCOOP development area that is expected to drive Continental's oil production growth in the near future.
The update contains mixed news, with Continental expecting significant reductions to drilling costs per lateral foot, but also reducing its outlook for EUR per lateral foot. Thus, with a move to longer lateral wells, there is only a modest increase in both well costs and total EUR per well. Project SpringBoard appears to be still on track to contribute significantly to Continental's oil production growth and