Continental is projecting a 40% or lower reinvestment rate, versus about 45% in the original capital program. Within the modified spend, the company is allocating $100-125 million to activity related to a newly closed bolt-on acquisition in the Permian. The company added over 75,000 acres to its Permian basin position in addition to its $3.25-billion entrance deal with Pioneer Natural Resources in November 2021 ( OGJ Online, Nov. 4, 2021 ). In a February investor presentation, the company noted 2022 drilling and completion spend for Permian assets of $400 million, with 46 total net wells and an average of four rigs running.