Monday, May 18, 2020

CLR: 1Q20 Results

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Link here. Data points, some numbers rounded:
  • production
    • production: 361,000 boepd
    • production: up 9% year-over-year
    • production: 56% oil (wow, that represents a lot of natural gas)
  • costs
    • among oil-weighted peers, CLR claims to have lowest costs
    • $3.61 production expense per boe
    • $1.31 total G&A per BOE
  • CAPEX
    • CAPEX: $650 million in 1Q20
    • CAPEX tracking 3% to 5% below previously revised $1.2 billion budget
  • shutting down
    • currently no fracking crews in the Bakken; one frack spread in Oklahoma
    • rigs reduced to four by year-end 2020
  • earnings: 
    • net loss: $0.51 per share; with excluded items,  $0.43 per share;
    • adjusted net loss: $0.08 per share;

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