Continental Resources announces first quarter results that highlights increases in production and reduced costs.
In a press release on May 6th, Continental reported a net loss of $132.0 million for the first quarter of 2015 and a production increase to 206,829 boed.
Most impressive is the company’s drilling and completion costs , which fell by 15% since 2014 year end. The company expects to see service cost reductions of up to 20% by mid-year and further savings from drilling and completion efficiencies. One example of these efficiencies is the new company record for drilling in the Bakken as they report drilling the two-mile lateral portion of a well in three days, nearly four days faster than its average time to drill a lateral.
Continental’s plans for Bakken moving forward Red more at clr.com
Continental’s plans for Bakken moving forward
Red more at clr.com