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.
Plains All American’s Cactus II pipeline became the first major energy project to be denied an exclusion to the tariff on imported steel.
Sustained lower oil prices may lead to Permian consolidation, the return of tough times to other shale plays and U.S. E&Ps helping rebalance global inventories.
The parties must now renegotiate a deal that would transfer Breitburn's Permian reserves to investors including Elliott and WL Ross through their participation in a $775 million rights offering.