Continental Resources says it will do more with less

10 Aug 2017   Shale Oil

Continental Resources, one of the larger U.S. shale players, said it would be cash neutral in the current market, but raised its forecast for annual production. Continental is active in the Bakken shale oil basin, centered mostly in North Dakota, the No. 2 oil producer in the nation behind Texas. CEO Harold Hamm said the company took a disciplined approach during the second quarter, which saw oil prices hold in the mid- to upper-$40 range per barrel. “The results have been exceptional, raising our production guidance for 2017 and lowering our guidance for operating costs,” he said in a statement . “We now expect to exit 2017 with production up 24 percent to 31 percent over the […]

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