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Continental Resources sees low single-digit output growth in 2022 -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: A flock of birds fly by storage tanks at the Continental Resources oil plant near Williston (North Dakota) January 23, 2015. REUTERS/Andrew Cullen (UNITED STATES – Tags: BUSINESS ENERGY COMMODITIES)/File Photo

DENVER (Reuters), – U.S. shale producer Continental Resources said Thursday that it expects low single-digit production growth next yea and warned that the market for oil is still fragile.

Continental announced this week that it will acquire a rival Pioneer Natural Resources (NYSE) acquired assets in Delaware Basin from Continental for $3.25 Billion. The announcement sent the shares of its stock plummeting by almost 5% on Thursday. Continental indicated that it expects to run two rigs next year on newly-acquired assets.

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