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Continental IDs 2021 Capex, Plans Production Increase; Talks 2020 Results
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Continental Resources, Inc. announced its full-year 2020 and fourth quarter 2020 operating and financial results, as well as its 2021 capital expenditures budget and operating plan.
2021 PlanThe company announced that is has struck a deal for assets in the Powder River Basin, where it plans to deploy two rigs in 2Q21.
2021 Capex: $1.4 billion
D&C: $1.1 billion (60% is allocated to the Bakken ($660MM) and approximately 35% to Oklahoma ($385MM), with the remaining capital being allocated to the Powder River Basin asset ($55MM)) Other (leasehold, mineral acquisitions, workovers and facilities): $300 millionProduction: ~315,000-328,000 BOEPD (up ~4% at the midpoint from YE 2020)
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