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CLR - Continental Resources: This Is Going To Be A Very Difficult Year
Continental Resources Inc.
Continental Resources (CLR) has ended last year on a positive note by delivering strong levels of free cash flows but the shale oil producer might struggle in 2020. The company needs oil prices of more than $50 a barrel to generate decent levels of free cash flows. In the ongoing $30s-a-barrel oil price environment, the Oklahoma-based oil producer will likely burn significant cash flows.
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Earnings Recap
Continental Resources has reported strong fourth quarter results in which the company posted double-digit increase in production, higher levels of profits, and solid