CLR - Continental Resources: Focus Shifts To Free Cash Flow Debt Reduction
Continental Resources (CLR) reported an increase in losses in its second-quarter results, while the company's debt has also climbed but its future is looking better. With the increase in oil prices and restoration of curtailed production, the Oklahoma-based oil producer's earnings should recover. It will also likely generate strong levels of free cash flow in the second half of 2020, which will help the company in reducing its debt. The second quarter was tough, but we're now looking at production recovery, earnings growth, and free cash flow-powered debt reduction.
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