Oklahoma City-based Continental Resources posts $64 million loss, increases production

Continental Resources headquarters in downtown Oklahoma City, Wednesday, August 5, 2015. Photo by Doug Hoke, The Oklahoman Continental Resources Inc. on Tuesday reported a second-quarter loss of $63.6 million even as it boosted production and raised its guidance for the year. The Oklahoma City-based oil and natural gas company lowered its drilling budget because of lower-than-expected commodity prices, but executives said production still will increase. "Continental remained disciplined and strategic with its capital spending during the quarter," CEO Harold Hamm said in a statement Tuesday. "The results have been exceptional, raising our production guidance for 2017 and lowering our guidance for operating costs." Continental executives said they now plan to… Read More

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