Continental Resources halts shale output, seeks to cancel sales

[IsailedawayfromFR]

The largest oil producer in North Dakota has halted most of its production in the state, notifying some customers it would not supply crude at current pricing, according to people familiar with the matter.

Continental Resources Inc, the company controlled by billionaire Harold Hamm, stopped all drilling and shut in most of its wells in the state’s Bakken shale field, said three people familiar with production in the state. North Dakota is the second-largest oil-producing state in the United States after Texas.
https://www.reuters.com/article/continental-resources-shale-north-dakota/continental-resources-halts-shale-output-seeks-to-cancel-sales-idUSL2N2CB2TO

@Smokin Joe

Things are going to hell in a handbasket up there.

Hope you kept your rainy day fund safe.

[Smokin Joe]

Yep. And I already have a job for the summer on a road crew.

[IsailedawayfromFR]

Yep. And I already have a job for the summer on a road crew.

I trust you are joking.

[Idiot]

I trust you are joking.

He's not joking.  Heck...I'm drawing PPP funds here in Texas.  We had 6 wells lined up to drill heads up that we've put on hold.

[Smokin Joe]

I trust you are joking.

Not a bit. There is no wellsite geology being done right now by the firm I was working with. The company we were doing wellsite for has cut their rigs for the time being. If we're lucky, we'll be back in the field by December.

In the meantime, I like some cash flow.

[IsailedawayfromFR]

Not a bit. There is no wellsite geology being done right now by the firm I was working with. The company we were doing wellsite for has cut their rigs for the time being. If we're lucky, we'll be back in the field by December.

In the meantime, I like some cash flow.

Man, I hope that does not last too long.

Being retired, the only cash flow I currently have is from what I had saved up.

Haven't faced having to work once again, other than the farm growing hay and cattle.  Not too much cashflow coming from there, believe me.

[Smokin Joe]

Man, I hope that does not last too long.

Being retired, the only cash flow I currently have is from what I had saved up.

Haven't faced having to work once again, other than the farm growing hay and cattle.  Not too much cashflow coming from there, believe me.

I believe you. I figure I'll work at something the rest of my days, as long as I am blessed enough to be able.

I already went through the savings a few years back, a combination of bad investments and wishful thinking, so I have to keep every dollar I can scratch in for the end of the run. I still have roughly 4 years to pull full Soc Sec bennies, and I'm not likely to grab them early.

[IsailedawayfromFR]

I believe you. I figure I'll work at something the rest of my days, as long as I am blessed enough to be able.

I already went through the savings a few years back, a combination of bad investments and wishful thinking, so I have to keep every dollar I can scratch in for the end of the run. I still have roughly 4 years to pull full Soc Sec bennies, and I'm not likely to grab them early.

All the best on those endeavours.

$50/b by sometime next year

[Idiot]

All the best on those endeavours.

$50/b by sometime next year

I hope it comes soon!  My quarantine goatee comes off at $40 oil.

[Smokin Joe]

All the best on those endeavours.

$50/b by sometime next year

Well, by Christmas, I'll either try to get a Santa Claus gig (I have a friend who does this for a couple major chains) Or I'll whack back the great gray growth and go back to the patch. We'll see.

[IsailedawayfromFR]

Well, by Christmas, I'll either try to get a Santa Claus gig (I have a friend who does this for a couple major chains) Or I'll whack back the great gray growth and go back to the patch. We'll see.

If you just keep it the way it is, people like me can identify you as a geologist when times get better.

[Smokin Joe]

If you just keep it the way it is, people like me can identify you as a geologist when times get better.