Thoroughbred Ventures, a Texas-based oil and gas investment firm, announced today the results of another monumental well in the Oklahoma STACK and SCOOP Play.
Thoroughbred has partnered with Continental Resources (NYSE: CLR) to drill the first three-mile lateral well in Oklahoma, the Romanoff 1-25-24-13XH. The spud date for the well was November 3, 2016 with drilling finished on January 15, 2017 and completion finished April 22.
The Romanoff well had a 24-hour IP rate of 1,188 barrels of oil and 2.3 million cubic feet of gas from a 14,900-foot lateral. By day 30, the well was outperforming offset wells by over 25 percent when normalized to a 7,500-foot lateral, and had an average 30-day production rate of 1,424 BOE per day (75 percent oil).
The STACK (Sooner Trend Anadarko basin Canadian and Kingfisher counties) Play and SCOOP (South Central Oklahoma Oil Province) Play are two of the most active and economically unconventional resource developments in the country. Both are coveted by public companies like Continental Resources, Devon Energy, Marathon Oil and Newfield Exploration. Thoroughbred specializes in identifying, evaluating and acquiring non-operated acreage in these highly desirable areas and providing rights to companies who wish to participate directly in drilling with the publicly-traded operators.
To date, Thoroughbred and its partners have acquired acreage throughout the Oklahoma STACK and SCOOP Plays in Kingfisher, Canadian, Custer, Grady and Garvin Counties.