Continental Resources Sees 20 Years Of 100% Returns On Wells At $65 WTI [Seeking Alpha]
Continental Resources, Inc. (CLR)
Last continental resources, inc. earnings: 2/26 04:15 pm
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US:NYSE Investor Relations:
clr.com/investors
Company Research
Source: Seeking Alpha
Summary Continental Resources saw production beat estimates again in the third quarter. Cost savings per well continued. New wells have been identified to reload CLR's E&P program to allow the company to drill comfortably for 20 years at 100% rates of return, assuming $65 WTI. As a result, the recent pullback in shares is providing investors with a chance to finally grab this best of breed company at a decent value. Continental Resources ( CLR ) saw record production again in the third quarter, up 5% quarter over quarter and, consequently, earnings were strong as net income came in at $314 million. The company has switched its drilling operations to achieve 95% crude oil-weighted growth, which should continue to have a dramatic impact on earnings since crude oil pricing comes with better margins than natural gas. The fourth quarter should also be strong, especially when considering that 40% of CLR's Bakken wells, which have a higher percentages of oil cuts, will be
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