Continental Resources Announces Firm Transportation Agreement on Enable's Project Wildcat from SCOOP and STACK to Premium Texas Markets
OKLAHOMA CITY, April 26, 2018 /PRNewswire/ -- Continental Resources, Inc. (NYSE: CLR) today announced the execution of a firm transportation agreement on Enable Midstream Partners' (NYSE: ENBL) Project Wildcat. Project Wildcat will provide Continental Resources 400 million cubic feet per day (MMcf/d) of additional takeaway capacity from its properties in the SCOOP and STACK plays in Oklahoma. Project Wildcat will provide Continental direct access to premium markets, including the expanding Dallas Fort Worth area where supplies of natural gas from the Barnett shale continue to decline.
"We are pleased to continue to expand our relationship with Enable as the anchor shipper on Project Wildcat. Project Wildcat not only provides flow assurance for our growing production in SCOOP and STACK but access to premium markets to maximize the returns on every molecule we sell," said Harold Hamm, Continental's Chairman and Chief Executive Officer.
"Enable has provided midstream solutions for Continental's substantial production growth in Oklahoma since before the SCOOP and STACK were household names," said Rod Sailor, Enable's President and CEO. "We are pleased to build on our relationship and support Continental's future growth with this creative and cost-effective market-access project."
Project Wildcat commences service in June 2018 and is expected to be fully in service in July 2018.
About Continental Resources
Continental Resources (NYSE: CLR) is a top 10 independent oil producer in the U.S. Lower 48 and a leader in America's energy renaissance. Based in Oklahoma City, Continental is the largest leaseholder and the largest producer in the nation's premier oil field, the Bakken play of North Dakota and Montana. The Company also has leading positions in Oklahoma, including its SCOOP Woodford and SCOOP Springer discoveries and the STACK plays. With a focus on the exploration and production of oil, Continental has unlocked the technology and resources vital to American energy independence and our nation's leadership in the new world oil market. In 2018, the Company will celebrate 51 years of operations. For more information, please visit www.CLR.com.
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SOURCE Continental Resources