CDEV - Centennial Resource Development: Strong Oil Prices Could Result In $600 Million In Positive 2022 Cash Flow
- At current high-$90s WTI strip, Centennial may be able to generate over $600 million in positive cash flow.
- It has hedges covering around 35% of its 2022 oil production.
- Centennial has instituted a $350 million stock repurchase program.
- At current strip, it can fund that program and reduce its net debt to 0.6x EBITDAX by the end of 2022.
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Centennial Resource Development: Strong Oil Prices Could Result In $600 Million In Positive 2022 Cash Flow