CLR - Continental Resources sees slight hit to Q1 production from Texas freeze

Continental Resources (CLR) says February's extreme weather nicked Q1 total production by ~6K boe/day, and it now expects oil production for the period to come in at 152K bbl/day with natural gas output averaging 935M cf/day.Continental also forecasts Q2 production of 160K-165K bbl/day of oil and 920M-940M cf/day of natural gas.The company says it is on track to meet or exceed its annual production guidance for the year of 160K-165K bbl/day and 880M-920M cf/day.Continental also says it has cut its net debt to $4.88B, reflecting a significant reduction from year-end 2020, and it now expects to reduce total debt to ~$4B or less by year-end 2021.Continental is projected to generate $1.46B in positive cash flow in 2021, Elephant Analytics writes in a bullish analysis published recently on Seeking Alpha.

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Continental Resources sees slight hit to Q1 production from Texas freeze