CLR - Continental Resources: On Track For Close To $1.5 Billion In Positive Cash Flow In 2021
- Continental is projected to generate $1.461 billion in positive cash flow in 2021 at current strip prices (including $59 WTI oil).
- This will help it push its net debt down to under $4.3 billion and put it within striking distance of its $4.0 billion year-end 2022 net debt target.
- Continental is benefiting from having a modest amount of hedges, as 89% of its oil production is unhedged and benefits from higher oil prices.
- Value is estimated at approximately $30 per share with longer-term $55 WTI oil prices.
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Continental Resources: On Track For Close To $1.5 Billion In Positive Cash Flow In 2021