Continental Resources-costs falling with fewer Bakken rigs
NEW YORK |
NEW YORK Aug 9 (Reuters) - Continental Resources Inc said Thursday it is seeing "anecdotal evidence" of cost reductions in its Bakken shale operations in North Dakota and Montana, after it cut the number of rigs it operates there to 19 from 26 in the second quarter.
The Oklahoma City, Oklahoma based company reported an 8.2 percent increase in its current, operated Bakken well costs at$9.2 million a well.
Continental had increased its 2012 capital expenditures budget to $3 billion due to the higher costs, it said during its second-quarter earnings call.
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