While some are still digesting the latest positive quarterly...

While some are still digesting the latest positive quarterly news, Continental have released some news to devistments and 'strategic initiatives' particularly in SCOOP.

They are still clearly open to investment in Oklahoma and SCOOP in a big dollar way. Interesting was the size of lease acquisition to date indicating the speed and challenges finalizing pooling and spacing even for a tier 1 operator.


Bolt-On Acquisition: The Company has acquired additional leasehold in SCOOP from an undisclosed party for $79.5 million. This acquisition adds up to 150 gross operated Woodford and Sycamore locations to the Company's inventory. Associated drilling and completion activity on this acquired position is expected to add an estimated $20 million of unbudgeted spend to the Company's 2019 capital expenditures.

Acreage Trades: Year-to-date, Continental has executed several strategic acreage trades that have added 3,000 net acres within the Company's core operating areas. These trades have increased the Company's working interest in several high valued operated units being developed this year, adding an estimated $35 million of unbudgeted spend to the Company's 2019 capital expenditures.

https://www.linkedin.com/pulse/continental-resources-announces-85-million-water-handling-gib-knight

Remembering that while competing for acreage Continental is one of several tier 1 companies willing to pay the premium once proven

Keep well cheers Paul