Continental Resources Inc. said Tuesday it is on track to meet or exceed its 2021 full-year oil and natural gas production guidance.

The Oklahoma City-based exploration and production (E&P) company also indicated that it has lowered its total debt by 10% since the end of 2020.

In an update ahead of its 1Q2021 earnings call scheduled for April 28, Continental said it expects to produce 160,000-165,000 b/d of oil and 880-920 MMcf/d of natural gas this year.

For the first quarter, Continental expects oil and natural gas production to average about 152,000 b/d and 935 MMcf/d, respectively. 

Preliminary production guidance for 2Q2021 is set at 160,000-165,000 b/d oil and 920-940 MMcf/d natural gas, management said.

Continental works primarily in the Bakken Shale, the South...