New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
January 23, 2013
17:21 EDTCLRContinental Resources increases proved reserves 54% to 785 MMBoe
Continental Resources increased its year-end 2012 proved reserves to 785 MMBoe, or million barrels of oil equivalent, a year-over-year gain of 54%. With the 2012 increase, Continental has grown proved reserves at a compound annual growth rate of 45% since year-end 2009. Continental's 2012 proved reserves had a net present value discounted at 10% of $13.3B, a 45% increase over the PV-10 of $9.2B for proved reserves at year-end 2011. Proved reserves growth in 2012 primarily reflected strong production growth in the Bakken play of North Dakota and Montana, which Continental believes is the nation's premier oil play. Continental is the largest producer and leaseholder in the Bakken, with approximately 1.1M net acres. The company has also accelerated production growth in its South Central Oklahoma Oil Province, or SCOOP, an oil- and liquids-rich play in Oklahoma. 39% of Continental's total 2012 proved reserves, or 309.0 MMBoe, were proved developed producing, compared with 40% of year-end 2011 proved reserves. Crude oil reserves represented 72% of 2012 total proved reserves, a significant increase over year-end 2011, when crude oil accounted for 64% of the company's 508 MMBoe in proved reserves. The higher percentage of crude oil proved reserves in 2012 was accomplished despite two crude-oil concentrated divestitures. Continental currently operates 85% of its total proved reserves, compared with 86% at year-end 2011.
News For CLR From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
February 2, 2016
15:16 EDTCLRS&P takes rating actions on U.S. investment-grade E&P companies
Subscribe for More Information
January 28, 2016
08:51 EDTCLRContinental Resources upside not reflected in stock, says Canaccord
Canaccord noted Continental Resources is an industry leader in enhanced completions testing and is also a pioneer in the development of the SCOOP and STACK plays in Oklahoma. The firm said the company is achieving impressive results and has considerable upside, which is not reflected in the stock price. Canaccord reiterated its Buy rating and $42 price target on Continental Resources shares.
January 27, 2016
11:09 EDTCLROptions with increasing put volume
Options with increasing put volume: RDN MTG HES BKD TAP RRC GG MTW AIG CLR PYPL
January 26, 2016
18:53 EDTCLRContinental Resources sees Q1 production 210,000-220,000 Boe per day
Subscribe for More Information
18:44 EDTCLRContinental Resources reduces CapEx budget to $920M from $2.7B in FY15
Continental Resources announced a budget of $920M in non-acquisition capital expenditures for 2016, a 66% reduction from 2015's $2.7B budget. The company expects average production of approximately 200,000 barrels of oil equivalent, or Boe, per day for 2016. The company currently estimates 2015 actual non-acquisition capital expenditures were approximately $2.5B, or approximately $200M under budget for 2015. Continental expects average production for 2015 to be approximately 221,700 Boe per day, above previously revised guidance. The company expects to report year-end 2015 total long term debt that is essentially flat with long-term debt at September 30, 2015, up only $7M quarter over quarter. Continental plans to report FY15 results on February 24, 2016, after the close of market trading.

Sign up for a free trial to see the rest of the stories you've been missing.
I agree to the theflyonthewall.com disclaimer & terms of use