Continental Resources Inc. executives Tuesday cut the company's drilling budget again as oil prices continue to weigh on the oil and natural gas industry. The Oklahoma City-based oil and natural gas producer said it will spend $300 million to $350 million less than the $2.7 billion it planned for this year's budget. The company said it is cutting its rig count in North Dakota to eight, down from 10 previously. "While we do not believe today's low commodity prices are sustainable long term, we are committed to living within cash flow until they recover," CEO Harold Hamm said in a statement. "We are reducing capital expenditures to protect our balance sheet and...
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