Continental Resources (CLR) has reduced drilling activity substantially, and its production will likely decline sharply in the second quarter. The company might report an even bigger loss in Q2-2020 as compared to Q1-2020 and burn cash flows. Things will likely begin to improve from the second half of 2020 as Continental Resources gets some support from oil prices, although debt-related concerns might continue to weigh on the stock.
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The oil price environment has become weak and highly volatile. In less than two months, the settlement price of WTI futures