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Tag Archives: SCOOP

Velocity Midstream Completes Pipeline Loop

Velocity Midstream Partners, LLC (“Velocity”) announced that it has completed the construction of a 45-mile, 12″ crude oil pipeline loop of its existing condensate pipeline through the fairway of the South Central Oklahoma Oil Province (“SCOOP”). The crude oil loop project is supported by expanded commitments from Continental Resources Inc., an Oklahoma City-based exploration and production company, and CVR Refining, ...

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Continental gets one last boost from sale of oil hedges

WILLISTON, N.D. – Continental Resources Inc posted a fourth-quarter profit well above Wall Street’s expectations on Tuesday, as a one-time gain from the sale of crude hedges helped offset tumbling oil prices. Continental reported net income of $114 million, or 31 cents per share, compared with $132.8 million, or 36 cents per share, in the year-ago period. Excluding one-time items, ...

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Low oil prices won’t slow production, jobs in SCOOP

Cost reductions, lower gas prices and falling oil stocks will not have a large impact on SCOOP production, according to one Continental Resources vice president. Warren Henry, vice president of research and policy for Continental said although reductions in capital expenditures have been substantial, the company’s investment in the SCOOP is too much for it consider slowing down due to ...

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Continental Resources announces further budget cuts

Continental Resources (NYSE: CLR) has recently announced its plans to further cut its capital expenditures for the upcoming year but also projects the activity will increase production growth by up to 20 percent when compared to last year. Last month the company announced it would be cutting its budget from $5.2 billion to $4.6 billion. However, those figures have been ...

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The $11 million science experiment

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Chickasha is an oil town. It was an oil town 50 years ago, and it’s an oil town today. Energy is linked to the city’s economy and its history. Over the last two years development of a shale province rich in petroleum and natural gas have created a resurgence and a new boom. Houses are being built, businesses are moving ...

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Continental Resources: “OK shale deposit could be 3rd largest producer”

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Lydia Gilbertson | Shale Plays Media Google+ Continental Resources CEO Harold Hamm stated Saturday that the company has discovered a shale deposit in South Central Oklahoma that could elevate the state to being the 3rd largest oil producer in the United States. The Springer Shale deposit is a shallow layer of shale at a 12,500 foot depth. Continental drilled one ...

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Analysis: Oil drillers in Oklahoma hope to ‘SCOOP’ competitors – Chicago Tribune

Elizabeth Dilts12:14 a.m. CST, January 17, 2014 NEW YORK (Reuters) – A handful of energy firms are rushing their rigs to several counties in southern Oklahoma, convinced they’ve found the next shale play to expand America’s oil boom.While the number of rigs is leveling off in places like the North Dakota Bakken, oil drilling by companies including Continental Resources and Marathon ...

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