Continental Resources is Placing a Big Bet in This New Shale Play for 2014

A $900 million investment by any company isn't something to take lightly. That is why Continental Resources' (NYSE: CLR  ) decision to spend that much on developing the SCOOP shale formation in western Oklahoma is so significant. This will represent almost 25% of the company's $4 billion capital expenditure program for 2014, even though the SCOOP has not proved as prolific a shale play as Continental's core play in the Bakken formation in North Dakota. 

So what is it about the SCOOP formation, and why have Continental, Marathon Oil (NYSE: MRO  ) , and Newfield Exploration (NYSE: NFX  ) taken large leases in the region? Tune into the video to find out why this region is so desirable and what it could mean for these companies going forward. 

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