- Centennial Resource Development's well-level results have been good.
- Capital efficiency and strong commodity prices have resulted in it boosting its 2021 free cash flow guidance to $140 million to $170 million.
- It may be able to generate close to $300 million in positive cash flow in 2022.
- Centennial's balance sheet would look pretty good by the end of 2022 at current strip prices.
- Shares look close to fairly valued in a long-term $60 WTI oil environment, but may be worth close to $6 with $65 oil.
For further details see:
Centennial Resource Development: Net Debt Should Be Reduced To Near 1.0x EBITDAX In 2022