CLR - Continental Resources Sees 20 Years Of 100% Returns On Wells At $65 WTI
Continental Resources (CLR) saw record production again in the third quarter, up 5% quarter over quarter and, consequently, earnings were strong as net income came in at $314 million. The company has switched its drilling operations to achieve 95% crude oil-weighted growth, which should continue to have a dramatic impact on earnings since crude oil pricing comes with better margins than natural gas.
The fourth quarter should also be strong, especially when considering that 40% of CLR's Bakken wells, which have a higher percentages of oil cuts, will be put on production during