CLR Posts Its February 2019 Investor Update; CY18 And 4Q18 Financial Results

Updates

February 20, 2019: contributor over at SeekingAlpha looks at CLR's 4Q18 and CY18 results. Archived.

• The company was apparently free cash flow positive and posted $1.0 billion in GAAP net income last year.
• Rising oil & gas production tax rates in Oklahoma and production expense increases will contend with falling DD&A per BOE expenses according to guidance.

February 19, 2019: earnings were reported after hours yesterday; before earnings came out, CLR was up about 3.5%; this morning, with the overall market down a bit, CLR is down almost 7%.
 

Original Post

 

Link here.

From SeekingAlpha, misses on top and bottom line:

• Q4 non-GAAP EPS of $0.54 misses by $0.07
• GAAP EPS of $0.53 misses by $0.07
• revenue of $1.15B (+9.5% Y/Y) misses by $30 million

Press release.

Briefly:

• net income, CY18: $988 million; adjusted, $1.07 billion
• per share: $2.64; adjusted, $2.84
• total production:
• 298,190 boepd
• up 23% yoy
• 168,177 bopd
• up 21% yoy
• debt reduction over one year: $585 million
• cash build over one year: $239 million
• production expense per boe: $3.59; 36% reduction in last four years