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CLR - Continental Resources: Earnings Growth Debt Reduction On The Horizon
Continental Resources Inc.
Continental Resources reported a net loss for FY-2020 but will swing to profits in 2021 with oil prices hovering well above mid-$50s a barrel.
Higher oil prices will lift the company’s cash flows, while its spending levels will remain low, allowing the company to generate more than $1 billion of FCF.
That’s put the company in a good position to cut down its debt by $1 billion in 2021.