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

by Mike Robinson

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© Reuters. FILE PHOTO – Birds fly above storage tanks at a Continental Resources site, North Dakota. January 23, 2015, Williston. REUTERS/Andrew Cullen

(Reuters) – The shares of Continental Resources, an independent shale driller, fell over 8% Tuesday. This was despite gains in the broader energy sector. After the 2022 spending outlook exceeded expectations, and the output guidance, the company had lower expected results, the share price dropped more than 8%.

Midday trading saw shares fall 8.7% to $52.44 Futures fell by 3.75%, to $91.95 per barrel.

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