Alva Review-Courier -

Continental Resources Announces Revised 2020 Capital Budget Of $1.2 Billion And Provides Operational Update

 

March 20, 2020



OKLAHOMA CITY, March 19, 2020 /PRNewswire/ -- In response to the significant drop in commodity prices, Continental Resources, Inc. (NYSE: CLR) ("Continental" or the "Company") today announced a revised 2020 capital budget of $1.2 billion, representing a 55% decrease in capital spend from the Company's original budget of $2.65 billion. The Company expects to be cash flow neutral under $30 per barrel WTI.

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The Company will be reducing its average rig count from 9 to approximately 3 in the Bakken and 10.5 to approximat...



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