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MCS - Continental Resources Highlights - March 25, 2020
Continental Resources is drastically scaling back its D&C activity in response to the low-price environment. The company will reduce its active rig count in the Bakken to three from nine and go from 10.5 rigs in Oklahoma to an average of four in 2020. Capital spending plans were shrunk by 55% from $2.65 billion to $1.20 billion. The revised budget would result in average 2020 production falling less than 5% YOY; 2019 production was......
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