Project Springboard (SCOOP Related)


#104

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.


#105

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.


#106

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


#107

Thank you. Extremely interesting.

Out of curiosity, what does SOHOT stand for?


#108

SOHOT = southern Oklahoma Hoxbar oil trend


#109

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.


#110

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.


#111

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.


#112

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!


#113

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.


#114

Thanks Martha! I have been checking but now I know that I need to be patient. Will there be a specific document after the spud notification that will be posted when the drilling actually begins?


#115

George, The Spud notification is actually notice that drilling has begun. They have 14 days in which to submit the form “after” drilling has started.

From there I have found the best place to get a clue that the well has been completed is the OTC Production database. Gross Production Search there by the API number that is on the permit and spud report. They have to have a PUN, Production Unit Number to sell the oil. This is where you will find that number. The completion report will usually show up at the OCC 1-3 months after that. They have 30 days to submit it, but it usually takes some time for it to be approved and published.


#116

Forms on the OCC well records site

Form 1000 is the permit Form 1001A is the spud (drilling has begun)

Form 1002A completion

There are more, but those are the ones most folks like to see.


#117

Way to go Continental!

•Continental Resources (CLR +1.9%) expects production to grow 15%-20% in 2019, with much of the increase weighted toward oil, CEO Harold Hamm says…….

•Much of CLR’s growth is focused on the Oklahoma SCOOP’s SpringBoard development, with an estimated 400M boe resource potential the company says could raise its overall oil production by 10% over the next 12 months.

•CLR also said it was able to fully participate in the bump in oil prices this year because it has not hedged its production.

And NO HEDGING!

Way to go Harold Hamm!


#118

Thanks again Martha. You are a jewel.


#119

Thanks Rick. What is the expected production “range” for gas and oil? I’ve been following the forum for awhile (finally getting accustomed to this format!) but a newbie in terms of seeing possible drilling in our area. Rough idea is fine but I also fully understand there are no guarantees, however, I have absolutely no idea for what to expect. Thanks.


#120

There’s a handful of these CLR operated sections in this Springboard project where the minerals are going to end up being worth over $35,000/ac on a 3/16th, assuming oil doesn’t do anything crazy and drop on us. That’s in discounted present value terms (PV12.5), after production taxes but prior to income taxes. Fun stuff to watch!!!


#121

Looking east at Continental’s SpringBoard Row 1 action… one rig was to my northwest and out of the picture. And one rig is behind the crane.


#122

Whee!

Grady County is going to look like the Bakken.

And the upper left is Springboard!


#123

what a great pic thanks