Continental Continues Derisking the Stack
Continental's fourth-quarter production was negatively impacted by severe weather in the Bakken, and came in below guidance (as previously announced). Even though this was partially offset by better-than-expected crude pricing, the company's financial results were still slightly below consensus. Adjusted EBITDA was $428 million (missing the Street's $436 million estimate). This year management is expecting production of 220-230 thousand barrels of oil equivalent per day. That only translates to ...Continental Resources is an independent crude oil and natural gas company engaged in the exploration, development, and production of crude oil and natural gas mainly in the North, South and East regions of the U.S. The North region consists of properties north of Kansas and west of the Mississippi River and includes North Dakota Bakken, Montana Bakken, and the Red River units. The South region includes all properties south of Nebraska and west of the Mississippi River including various plays in the South Central Oklahoma Oil Province and Sooner Trend Anadarko Canadian Kingfisher areas of Oklahoma. The East region is comprised of undeveloped leasehold acreage east of the Mississippi River.
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