Project Springboard (SCOOP Related)

Thanks, Cam.

We’re in 18-6N-7W. I saw this map some time ago and wondered why we weren’t on it. CRC is not the operator in our area, Unit is, though CRC is the largest owner.

SCOOP: Project SpringBoard Phase I and Phase II Underway

The Company’s SCOOP production averaged 64,786 Boe per day in second quarter 2018, up 6% versus second quarter 2017. The Company completed 16 gross (13 net) operated wells with first production in second quarter 2018.

The Company previously announced Project SpringBoard, which is a massive, multi-year, stacked pay, oil development project that covers approximately 70-square miles and includes 45,000 gross (31,000 net) contiguous acres. SpringBoard holds up to 400 MMBoe of gross unrisked resource potential, with wells expecting to average 70%-85% oil across both phases. The Company estimates up to 100 Springer and 250 Woodford and Sycamore potential locations and will operate SpringBoard with an average working interest of approximately 75%. In addition, SpringBoard is expected to benefit from the Company’s row development operational efficiencies and production will benefit from access to premium markets through existing pipeline infrastructure.

Drilling is underway in both Phase I and Phase II of Project SpringBoard, with 7 rigs targeting the Springer reservoir (Phase I) and 4 rigs, ramping up to 6 rigs by year end, targeting the Woodford and Sycamore reservoirs (Phase II). The Company expects first production from the Springer wells in Project SpringBoard to begin late third quarter 2018, with up to 18 Springer wells producing by year end 2018. First production from the Woodford and Sycamore wells is expected to begin in first quarter 2019.

“Project SpringBoard is an outstanding, high impact oil project for Continental and its shareholders,” said Jack Stark, President. “This project alone has the potential to increase Continental’s oil production by as much as 10% over the next 12 months.”

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http://investors.clr.com/phoenix.zhtml?c=197380&p=irol-newsArticle&ID=2362621

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Thank you, Jake.

Hi Any chance the springboard will affect Section 6 3N 5W We have some old wells in there,

Here us the map of Springboard. A long way from you. Most of it is in Grady county in 7N-5 & 6W. You are four townships farther to the south in 3N-5W.
Here is a Grady map so you can plot them both. Grady County Map.pdf (434.4 KB)

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This is an interesting map. What do the yellow colors represent? Is there a map showing activities of Unit Petroleum, especially in section 11?

Use the gray slider bar on the right to slide up to August 7 in this thread and you will get the legend.
As for Unit and section 11, there are many 11s in Grady. Not sure which one you mean. This map is from a presentation from Continental so only comments on their operations. I have found it useful to go on the operator websites and look up their investor presentations for their maps. A whole slew of them just posted or are about to post in early August reporting on their Q2 results.

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Here is the link to the most recent Unit presentation. Has some fantastic maps.

Look up companies quarterly results and also look up their presentations to the big banks and energy investor presentations which are throughout the year. Take them with a grain of salt as they are definitely in “positive” mode. Maps are quite useful. Watch out for BOE language and do not assume that is barrels of oil which is BO. BOE is barrels of oil equivalent and combines oil and gas. In general, 6000 cubic feet of gas equals one barrel of oil. (The BTU value is actually slightly different for each well, but industry uses the 6000 because the math is easier for presentations).

http://www.unitcorp.com/files/BAML_conference%202018_06_4_18.pdf?v=0511

If you are asking about the McConnell 1-11H, you will find info on it on Slide 8 as item 3 in the SOHOT play. It is in 5N-8W. Wells 1, 2, 4 and 7 are in 6N-8W immediately north of 5N-8W.

For those of you who might be a bit confused, each company gives a code name to their areas of activity for internal use. Over time, that may leak out to the public in their investor presentations. The Unit SOHOT area is just to the west of the Continental SPRINGBOARD. Sometimes the edges may overlap or be a bit fuzzy as the companies figure out a play over time. A lot of the time, companies have ownership positions in another company’s area, but not be operator, so that is the “non-op” you hear about. They may reference that operator company’s name for the area in their presentations. Always good to look at the maps from the presentations, print them out and keep them in your files for reference. I save the investor presentations in my digital files for future reference to see how a play develops, how the expected decline curves improve (or not) over time.

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Yep that’s what I thought. Thanks much!! Still looking for Gulfports Cleburne 12x13 in 4N 7W results. Have you heard anything?

Thank you. Extremely interesting.

Out of curiosity, what does SOHOT stand for?

SOHOT = southern Oklahoma Hoxbar oil trend

The well is finished. I can see everything except the completion report on the OCC well record site. It is listed in sec 12 since the SL is there. The well is also listed on the OTC (in sec 13) as active beginning 5/4/18, but no production is listed. They are usually about four months behind. You probably won’t hear much until the Division Order gets to you in about October or November.

Jake, thanks for the information. With the start of Phase II, is Phase I completed? If so, how many phases are actually planned? I expected Phase I to continue throught the Springboard, then Phase II would be the next round.

No phase 1 is defined as development of the Springer and Phase 11 is defined as the development of the Sycamore and Woodford. It appears that development will overlap is some areas. If members have the time you might find it useful to listein to the CLR conference call, about 1.5 hrs and you should be able to find it on the company website.

Bottom line is that CLR will have 13 rigs running in Springboard for the next 2-3 years drilling and completing wells. They stated that spacing will be 4 wells per unit in the springer, 5 additional (6 total) wells in the woodford well per unit and 3 sycamore wells per unit(i expect that to change in time upward.) In Phase 1, Springer, they hope to turn 18 wells to sales before year end and 40 wells to sales next year. In phase 11, some wells will be turned to sales 1st quarter and they plan to have 40 wells turned to sales next year.

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Great info on Project Springboard! My siblings and I have rights in 11-8N-7W. Continental spud Abraham 1-14-11XHM in late June in 14-8N-7W (50% for section 14). Any news on the drilling status? Also, does not appear this area is part of Project Springboard per the map posted here, however, permit to drill was just after the announcement of the project. Any insights… part of the plan or just a separate drilling area? Thanks!

8N-7W is not in the “Springboard area” . Continental probably has a different name for that area. You probably won’t hear anything on your well for a while. Takes about four-five months to drill and complete a two section well. Follow it on the OCC website well records area in the section of the surface location.