Continental Resources sees low single-digit output growth in 2022

FILE PHOTO: Birds fly over storage tanks on a Continental Resources oil production site near Williston

DENVER (Reuters) – U.S. shale producer Continental Resources on Thursday said it anticipates low single-digit production growth next year, and cautioned that the oil market is still “fragile.”

Continental this week said it would acquire rival Pioneer Natural Resources’ assets in the Delaware Basin for $3.25 billion, an announcement that sent its shares tumbling by nearly 5% on Thursday. Continental said it would likely run around two rigs on the newly-acquired assets next year.

(Reporting by Liz Hampton in Denver)