Continental Resources (CLR) weathered challenging transport limits in the Bakken that Permian producers now face. It also made an inspired decision not to hedge oil prices and so received a relatively high oil price throughout 2018.
Long-term the Bakken is a smaller basin with fewer oil reserves than the Permian. Moreover, the company expanded in two Oklahoma provinces that are largely gas-prone, with some liquids. However, the company is increasing its percentage of production that is oil, which will increase its profitability.
Potential investors will likely want to see the company’s 2018 year-end