Newfield Update -- Michael Fitzsimmons -- June 11, 2018

Over at SeekingAlpha. It was Fitzsimmons, I believe, who said Newfield was the top operator in the Bakken -- I could be wrong [I was wrong: it was Mike Filloon -- see this link] -- maybe I will look that up later ... but now... at the linked article:

• Q1 EPS was impacted by an (unrealized) $79 million derivative loss (-0.39/share)
• in the meantime, the company's Q1 domestic production was 39% dry gas
• the company has some prolific STACK wells, but the relatively high dry gas split and the hedging program are headwinds
• yet the stock has been beaten down, in part, owing to Oklahoma drilling restrictions due to high earthquake activity in the state
• it may have been beaten down too much - but where is the catalyst moving forward?

I've talked about hedges and derivatives before. CLR is not hedged (yet).