CLR - CLR Is An Example Of Why Shale Industry Is Not Responsive To Higher Oil & Gas Prices
- The core Bakken acreage in CLR's portfolio seems to be mostly spent, leaving Continental with few options but to manage a halt in production growth, while aiming for profits.
- For the current quarter, production is set to be just under levels seen in Q3 of 2019.
- Continental's production performance is typical of the industry, given increasingly scarce prime acreage, a damaged reputation in terms of profitability, and other factors.
- Continental's profit outlook looks good, on the back of disciplined operations and strong oil & gas prices, but it has a longer term problem of declining acreage quality.
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CLR Is An Example Of Why Shale Industry Is Not Responsive To Higher Oil & Gas Prices