Continental nearly doubles Bakken reserves

02/11/2013
Continental Resources Inc., Oklahoma City, the top producer and leaseholder in the Williston basin Bakken play, said it increased its yearend 2012 proved reserves 54% to 785 million bbl of oil equivalent, 72% oil. With the 2012 increase, Continental said, it has grown its proved reserves 45%/year since the end of 2009. Crude oil accounted for 64% of the company's 508 million boe of yearend 2011 proved reserves. The company brought the percentage up despite two crude oil concentrated divestitures in 2012. Through acquisitions and leasing, Continental increased its Bakken leasehold by 24% to 1,139,799 net acres at the end of 2012 from 915,863 net acres a year earlier. Continental's 2012 pro...
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