Piper cuts crk
Posted: Wed May 18, 2022 12:20 pm
Higher D&C costs maybe, but CRK's operating costs are super low.
CRK's cash operating expenses in Q1 were $78,827,000 or under $0.6853/mcfe. < Compared to realized gas prices (including cash settlements on their hedges) of $3.53/mcf in Q1 and $4.60 to $5.30 from Q2 to Q4.
When I see a Wall Street Analyst use incorrect terms in their report ("operating expenses" are not "drilling & completion cost"), I don't give their price target much attention.