CLR 1Q19 Earnings

Press release:

• earnings
• net income: $187 million
• EPS: 50 cents/share
• adjusted net income: $217 million
• adjusted EPS: 58 cents/share
• forecast: 48 cents/share
• production: 
• 193,921 bopd average; up 18% y-o-y
• 332,236 boepd average; up 16% over y-o-y
• Bakken: 3 strategic step-out wells deliver excellent results

After market close: shares up 3%; over $1.50; trading just under $50

Reuters: CLR profit beats as higher production offsets weaker prices.

• in the Bakken, shale hit a record 1.41 million bopd (all production; not just CLR)
• average sales price, excluding hedging: fell to $35.56/boe, from $41.26 a year earlier
• earned 58 cents vs forecast of 49 cents
• guidance unchanged:
• 190,000 - 200,000 bopd
• 790 million cf - 810 million cf
• reiterates budget of $2.6 billion

CLR: history here;