Continental Resources cuts nearly $2 billion from capital expenditures budget for 2015

[FBaggins]

3. You're reading your assumptions into what is reported

They don't plan to lay anyone off... and they expect production to continue to grow even at these lower prices.

Continental CEO Harold Hamm said no job losses are expected.

“We will have no layoffs,” he said. “We certainly have plenty to do. We won’t be growing as fast, but we will still have some growth around 20 percent.”
http://newsok.com/oklahoma-city-based-continental-resources-cuts-2015-drilling-budget/article/5378387

You have to admit that this doesn't match your expectations.

You should also keep in mind that US consumers buy about 135-140 billion gallons of gasoline per year. So yeah... >$1/gal can be a big deal. And let us not forget that that's before we talk about tens of billions of gallons of diesel fuel (that flows into the price of almost all goods)... then there's the home heating oil (that will certainly add up to many hundreds or even thousands of dollars saved by many families this winter. (We could go on and on).

Bought my first sub-$2 gasoline since the crash yesterday. That was closer to a $30 savings.