(Reuters) – U.S. shale producer Continental Resources Inc’s loss in the fourth quarter widened compared with the third as expenses rose, even as crude prices recovered from pandemic-led lows.
The company, a major producer in the Bakken shale of North Dakota, said average daily production rose to 339,307 barrels of oil equivalent (boe) in the fourth quarter, from 297,001 boe in the third.
Continental set capital expenditure at $1.4 billion for 2021 compared with $1.2 billion for the previous year.
Adjusted net loss attributable to the company widened to $81.9 million, or 23 cents per share, in the fourth quarter ended Dec. 31, from $58.9 million, or 16 cents per share, in the third quarter.
(Reporting by Rithika Krishna in Bengaluru; Editing by Shailesh Kuber)
