CLR - Continental Resources: Stellar Financial Results To Continue But Bakken Is A Drag

• Continental's prime acreage in the Bakken is pretty much spent. For this reason, its total oil & gas production is largely stagnated at pre-COVID levels.
• The Q1 headline that shows a huge increase in production compared with the same time last year is misleading, but the financial results are solid nevertheless.
• The improved oil production outlook announced in Q1 suggests only a minor increase from current production levels.
• High oil & gas prices should continue to support stellar financial results in the coming quarters, but production is not likely to rise significantly, despite the price signal to increase drilling activity.

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