Shares of Continental Resources tank amid higher 2022 capex, lower output view

1 min read
FILE PHOTO: Birds fly over storage tanks on a Continental Resources oil production site near Williston

– Shares of independent shale driller Continental Resources fell more than 8% on Tuesday, outpacing declines in the broader energy complex, after the company’s 2022 spending outlook topped expectations and its output guidance was lower than anticipated.

Shares were down 8.7% to $52.44 at midday trading. U.S. crude futures were off about 3.75% to $91.95 a barrel.

(Reporting by Liz Hampton in Denver)

tagreuters.com2022binary_LYNXMPEI1E0X9-BASEIMAGE


Breaking News
Celsius Network hires advisors to prepare for potential bankruptcy - WSJ