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Monday, May 18, 2020

CLR: 1Q20 Results

Disclaimer: this is not an investment site.  Do not make any investment, financial, career, travel, job, or relationship decisions based on what you read here or think you may have read here. If this is important to you, go to the source. The following is an incomplete summary and may include content and typographical errors.

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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