Continental's share price surged 6% as the company upgraded its production growth guidance, whilst at the same time reducing capex guidance. This was complimented by type curve upgrade in the Bakken and positive well results in the SCOOP and STACK. In the SCOOP, the company is particularly focused on the Springer formation. It is targeting eight Springer completions in H2 2017; recent well results indicate robust returns at strip prices.
The upstream oil and gas industry conducts activities against a backdrop of growing energy and environmental challenges. Political instabilities, international conflicts and government and environmental regulation have all impacted the production process.
This has forced companies to re-examine their corporate strategy, moving away from high-risk exploratory drilling to lower-risk exploration in mature basins as they search for increased returns.
This Upstream Oil and Gas Reported Results Analysis report provides rapid response analysis on company quarterly results and strategy presentations. Use it to gain the upper hand with Wood Mackenzie's opinion on the latest corporate developments.
Widely used by both the energy and financial sectors, our report gives you a unique perspective on key strategic and financial challenges, as well as opportunities facing this oil and gas company.
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