CLR - Continental Resources: 3Q18 Was Great 4Q18 Will Be Even Better
Continental Resources (CLR) is gearing up to significantly grow production in the fourth quarter as it ramps up completions activity at Bakken Shale. That’s going to fuel earnings as well as cash flow growth. Meanwhile, the company’s capital expenditure may fall by 24% sequentially in the fourth quarter which could allow it to post solid free cash flow growth. The company can use free cash flows to repay its debt.
Continental Resources has recently released blowout quarterly results in which its profits surged as oil prices climbed and production grew to record levels.