Continental Resources Inc.’s recent expansions into the Powder River and Permian basins have given it the inventory and optionality needed to capitalize on strong oil and natural gas prices, management said. 


In a conference call to discuss fourth quarter and full-year 2021 earnings, CEO Bill Berry said that “as an unhedged oil producer, we were able to capitalize on crude commodity strength throughout the year.”

Oklahoma City-based Continental now operates in North Dakota’s Bakken Shale, the Anadarko Basin of Oklahoma, the West Texas portion of the Permian Basin, and the Powder River Basin in Wyoming.

Berry and Executive Chairman Harold Hamm said Continental plans to limit annual production growth to 0-5% for the foreseeable future, in line with many of its Lower 48...