Continental Resources Q2 Results - Aug 6
Posted: Tue Aug 06, 2019 11:09 am
Increasing Shareholder Returns through Share Repurchases & Dividend + 2019 Production Guidance Increased; LOE and G&A Expense Guidance Decreased
- Releasing 7 Rigs in the South by Year-End 2019 Due to Springer & Woodford Efficiency Gains
$92 Million of Share Repurchases Executed through August 2, 2019
$236.6 Million in Net Income in 2Q19, or $0.63 per Diluted Share
- $219.1 Million Adjusted Net Income in 2Q19, or $0.59 per Diluted Share (Non-GAAP) < This compares to my forecast of $206.8 million Net Income.
193,586 Average Daily 2Q19 Oil Production; up 23% over 2Q18 < Slightly above my forecast of 196,500 BOPD.
331,414 Boepd Average Daily 2Q19 Production; up 17% over 2Q18 < Compares to my forecast of 330,000 Boepd for Q2.
I will be posting my updated forecast/valuation model for CLR to the EPG website this afternoon.
- Releasing 7 Rigs in the South by Year-End 2019 Due to Springer & Woodford Efficiency Gains
$92 Million of Share Repurchases Executed through August 2, 2019
$236.6 Million in Net Income in 2Q19, or $0.63 per Diluted Share
- $219.1 Million Adjusted Net Income in 2Q19, or $0.59 per Diluted Share (Non-GAAP) < This compares to my forecast of $206.8 million Net Income.
193,586 Average Daily 2Q19 Oil Production; up 23% over 2Q18 < Slightly above my forecast of 196,500 BOPD.
331,414 Boepd Average Daily 2Q19 Production; up 17% over 2Q18 < Compares to my forecast of 330,000 Boepd for Q2.
I will be posting my updated forecast/valuation model for CLR to the EPG website this afternoon.