By David Middleton – Re-Blogged From WUWT
Continental Resources Halts Shale Output, Seeks to Cancel Sales
Devika Krishna Kumar and Liz Hampton, Reuters
Fri, 04/24/2020 – 04:20 AM
The largest oil producer in North Dakota has halted most of its production in the U.S. state and notified some customers it would not supply crude after prices dived into negative territory this week, people familiar with the matter said.
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, three people familiar with production in the state said April 23.
Global oil prices have plunged because of excess supplies and tumbling demand due to the coronavirus crisis.