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Continental Resources to cut up to $350M from 2015 capex

2015-09-09 00:13:40| Electronics - Topix.net

Continental Resources says it plans to cut at least 11% from its 2015 capital spending budget to $2.35B-$2.4B vs. its previous forecast to spend $2.7B, due to the drop in crude oil prices. CLR says it will reduce its operated rig count in the Bakken from 10 to eight rigs by the end of the month, and plans to defer well completion activity except for where it has contractual considerations or it accomplishes specific strategic objectives.

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