Continental's Output to Stop Growing by Midyear

摘要

Continental Resources said it expects its production to stop growing by the middle of this year as the company postpones completion work on its wells in the Bakken tight oil play in North Dakota and Montana as it waits for a recovery in US oil prices. The Oklahoma City-based independent reiterated its full-year 2015 production growth guidance of 16%-20% despite its previously announced plans to slash capital spending budget for the year by over 40% in response to the slump in oil prices (OD Dec.23'14).