Continental

Continental Pivoting to Oil-Weighted Bakken, SCOOP as Market Rebalances

Continental Pivoting to Oil-Weighted Bakken, SCOOP as Market Rebalances

Continental Resources Inc. plans to pivot from natural gas to oil-directed drilling in the latter half of 2021 in response to strengthening crude prices and a tighter supply-demand balance. Drilling in 2021 is to be mainly focused on the South Central Oklahoma Oil Province (SCOOP) and the mighty Bakken Shale of North Dakota, management said…

May 5, 2021
Continental May Exceed 2021 Oil, Natural Gas Production Guidance in Midcontinent as Net Debt Falls

Continental May Exceed 2021 Oil, Natural Gas Production Guidance in Midcontinent as Net Debt Falls

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…

April 14, 2021

Continental Proves Its Primacy in Oklahoma’s SCOOP and STACK

Oklahoma City, OK-based Continental Resources Inc. turned in a third quarter earnings report that beat expectations across the board, but results in Oklahoma demonstrated the company’s dominance as one of the only producers to continuously outperform in a play that has sent multiple operators running.

November 1, 2019
Continental’s New Bakken Crude Project to Start Producing in 2020

Continental’s New Bakken Crude Project to Start Producing in 2020

Oklahoma City-based Continental Resources Inc. has announced new details for its Long Creek Bakken Unit development project, which includes a production start date in the third quarter of 2020.

August 7, 2019

Lagoon Buys Continental Oklahoma Oilfield Water System for $85M

Oklahoma City-based Lagoon Water Solutions on Tuesday paid $85 million for part of Continental Resources Inc.’s oilfield water system serving Oklahoma’s busiest reservoirs, the STACK, aka the Sooner Trend of the Anadarko Basin, mostly in Canadian and Kingfisher counties, and the SCOOP, South Central Oklahoma Oil Province.

August 2, 2019

SpringBoard Ahead of Schedule and WTI Higher, but Continental Holding Firm on Capex

Continental Resources Inc. said it was ahead of schedule with a multi-year program to develop oil and liquids-rich assets in Oklahoma’s stacked reservoirs, but it will hold the line on spending, even as a rebound in oil prices is projected to bring close to $1 billion in free cash flow by year’s end.

May 1, 2019

Continental Reports Surge in STACK, SCOOP Production

Continental Resources Inc. reported production increases across the board, including a surge in the Midcontinent, and said plans are on track to reduce debt sharply by year’s end.

February 19, 2019

Continental Raises Capex, Production Outlook for 2019

Continental Resources Inc. broke ranks with its fellow explorers and announced plans to raise capital spending to $2.6 billion in 2019, as it looks to grow its Lower 48 oil and gas production and generate enough cash flow to reach a goal of reducing its net debt to $5 billion.

February 15, 2019
Continental Cuts Capital, Extends Laterals on Project SpringBoard

Continental Cuts Capital, Extends Laterals on Project SpringBoard

Continental Resources Inc. said it expects to save about $125 million in capital costs by shifting to 30% longer laterals within Project SpringBoard, a multi-year program to develop its oil and liquids-rich assets in Oklahoma’s myriad stacked reservoirs.

January 30, 2019
Continental Raising Guidance, Capex with Bakken, Midcon Growth in Sight

Continental Raising Guidance, Capex with Bakken, Midcon Growth in Sight

Continental Resources Inc. raised its production guidance and increased capital expenditures (capex) for the year, as it plans to deploy more rigs in the Bakken Shale and a multi-year development program targeting Oklahoma’s myriad stacked reservoirs.

August 9, 2018
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