CLR’s 2016 average crude oil price was $42.75. At this level, the company had proved reserves of 1.3 MMboe and a standardized or discounted value of $5.5 billion.
Along with increasing its operational efficiencies, Continental Resources (CLR) has been focusing on bringing down its costs.
Continental Resources’ (CLR) proved reserves have risen considerably since 2011. At the end of 2016, CLR had proved reserves of ~1.27 billion barrels of oil equivalent.
Crude oil (UCO) represented 55% of Continental Resources’ (CLR) total production in 4Q16. Oil’s share as a percentage of CLR’s total production has fallen since 4Q14.
Now that we’ve read about Continental Resources’ (CLR) capital expenditure–related objectives, let’s now turn to what the company has planned for its operations in 2017.
Continental Resources’ (CLR) estimated rate of return is $60 per barrel for WTI (West Texas Intermediate) and $3.5 per thousand cubic feet for Henry Hub (or HH) natural gas.
Continental Resources’ (CLR) 2017 production growth guidance range is 220 Mboepd–230 Mboepd (thousand barrels of oil equivalent per day), compared to 217 Mboepd in 2016.
In a presentation by CLR in October 2016, the company claimed that ~75% of its rigs in Oklahoma were located in the STACK and SCOOP regions.
In this series, we’ll focus on Continental Resources’ (CLR) key performance indicators, objectives, and strategies for 2017.
On March 21, 2017, Schlumberger (SLB) announced that BP (BP) awarded SLB’s OneSubSea an engineering, procurement, and construction (or EPC) contract.
Haliburton stock will likely close between $51.11 and $47.71 in the next seven days. Halliburton’s stock price was $49.41 on March 24, 2017.
In a conference call on March 24, 2017, Halliburton’s (HAL) management said that the company could miss Wall Street analysts’ earnings estimate in 1Q17.
Oracle (ORCL) was trading at a forward EV-to-EBITDA multiple of ~10.9x on March 21, 2017. This metric was lower than Microsoft’s (MSFT) multiple of ~12.7x.
On March 22, 2017, Time Warner was trading 2.6% above its 100-day moving average of $95.
Time Warner’s HBO has an international foothold with premium original content that can be distributed on television networks and over-the-top with HBO Now.
Time Warner (TWX) has a forward PE multiple of 14.9x, which is on the higher side among its peers.
Rising competition in the streaming services industry could make it tough for Time Warner’s (TWX) HBO Now to gain new subscribers.
HBO Now is increasingly growing in strategic importance for Time Warner (TWX). HBO Now crossed 2.0 million subscribers in the United States in 2016.
As English language content becomes more popular around the world, Time Warner (TWX) is increasingly looking at international territories for expansion.
Time Warner said that with SVOD (subscription video on demand) services, serialized edgy programming worked better than on linear television networks.