Last week, Continental Resources’ President Jack Stark updated investors, including a look at the company’s scoop play Springboard Project in Oklahoma. Stark said everything remains on track with the project, which should boost the company’s oil production by about 10% from third quarter 2018 to this year’s third quarter. Hart Energy’s Velda Addison has all the details of last week’s update.
Earlier we sat down in Oklahoma City with Tony Barrett, Continental’s vice president of exploration to talk about Springboard and why it is a step-change for the industry.
BP and partners have sanctioned the Azeri Central East (ACE) project, the next stage of development of the giant Azeri-Chirag-Deepwater Gunashli (ACG) oilfield complex in the Azerbaijan sector of the Caspian Sea.
Exxon Mobil Corp. and offshore Guyana partners continue their success with their 13th discovery on the Stabroek Block and fifth discovery in the Turbot area.
The rig count fell for the past four months and production growth in the Permian Basin and other key shale basins have slowed as oil prices fell and many independent shale companies cut spending.