Sign Up for FREE Daily Energy News
Canadian Flag CDN NEWS  |  US Flag US NEWS  | TIMELY. FOCUSED. REVELANT. FREE
  • Stay Connected
  • linkedin
  • twitter
  • facebook
  • youtube2
BREAKING NEWS:

Copper Tip Energy Services
Hazloc Heaters
Hazloc Heaters
Copper Tip Energy

EnergyNow Showcase

Continental Resources says Texas winter storm hit first-quarter production


English Español 简体中文 हिन्दी Português
These translations are done via Google Translate

(Reuters) – U.S. oil producer Continental Resources said on Tuesday the Texas winter storm in February impacted its first-quarter production by about 6,000 barrels of oil equivalent per day.

The cold wave in U.S. central and southern states disrupted power and gas supply and impacted oil production, refineries and chemical plants for several weeks. Companies including Exxon Mobil warned of a hit to profit.

Continental expects oil production to average about 152,000 barrels of oil per day (bopd) and natural gas production to average about 935 million cubic feet per day (mmcfpd).

The company also said production for second quarter is expected to be between 160,000 bopd and 165,000 bopd and natural gas production between 920 mmcfpd and 940 mmcfpd.

Continental also fast-tracked its debt-reduction target to $4 billion or below by end of 2021. The company, which had about $5 billion in debt at the end of March, had earlier targeted end of 2022 to reduce its debt to $4 billion.



Share This:



More News Articles


New SHOWCASE Directory Companies

 

RAM Industries Inc.
Becht
Osperity
RHK Hydraulic Cylinder Services Inc.