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.