(Source: Associated Press/AP Online)
ENID, Okla. - Independent oil and gas producer Continental Resources Inc. on Thursday reported a significant discovery in the Lodgepole mounds in Dickinson, Stark County, N.D.
The Laurine Engel No. 1 well yielded 463 barrels of oil per day in the Lodgepole formation, the company said.
"This is the first significant Lodgepole discovery in the Dickinson area since the late 1990s," said Harold Hamm, CEO of Continental Resources. "Initial wells targeting the Lodgepole formation were drilled in 1993, and since that time 41 producing wells have yielded 55 million barrels of oil and 28 billion cubic feet of natural gas."
Armstrong Operating Inc. operates the well, and the third partner in the well is Tom Jordan of Jordan Oil & Gas Co. The partners plan to drill an offset well later this year.
Continental also said it completed its Young 2-22H well in Blaine County, Oklahoma. Additionally, the company announced three completions in the North Dakota Bakken play. The three wells yield 1,273 barrels of oil equivalent per day, 730 Boepd and 661 Boepd, respectively.
Shares of Continental rose $1.82, or 4.7 percent, to $40.68.
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