Continental Slashes Oklahoma Rig Count, Focuses on Cash Flow

摘要

Continental Resources is slashing its rig count in Oklahoma but is keeping drilling plans for the year in place as it tries to keep annual spending within budget. The company plans to release seven of its Oklahoma rigs, bringing its statewide count down to 12 from 19 by the end of the year. Even still, the company has made no changes to its anticipated well count in the second half of the year, underscoring the operational efficiency gains the company has made.