Continental Res. announced today that its first foray into the Three Forks has been a success, and investors liked what they heard and boosted the CLR stock price up 23% today. The company's Bice 1-29H, sec 29, T147, R96, Dunn Co., flowed an average of about 700 bbl/day over a seven day period from about 50 ft. below the upper portion of the middle member of the Bakken where most laterals have targeted.
The well is the company's first attempt to test whether the TF is a separate reservoir that is not be drained by mid-Bakken wells. If the TF is indeed a discrete reservoir, a whole new chapter may need to be written on this play.