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Continental Resources Misses Q3 EPS by 24c; Offers Guidance

Published 02/11/2022, 21:36
Updated 02/11/2022, 21:36

Continental Resources (CLR) reported Q3 EPS of $2.88, $0.24 worse than the analyst estimate of $3.12. Revenue for the quarter came in at $2.45 billion versus the consensus estimate of $2.65 billion.


2022 Guidance

Full-year average oil production (Bopd): 200,000 to 210,000

Full-year average natural gas production (Mcfpd): 1,100,000 to 1,200,000

Capital expenditures budget: $2.6 to $2.7 billion

Full-Year Operating Expenses:

Production expense per Boe: $3.75 to $4.25

Production tax (% of net oil & gas revenue): 7.5% to 8.0%

Cash G&A expense per Boe (1): $1.20 to $1.40

Non-cash equity compensation per Boe: $0.50 to $0.60

DD&A per Boe: $12.00 to $14.00

Average Price Differentials:

NYMEX WTI crude oil (per barrel of oil): ($2.25) to ($3.25)

Henry Hub natural gas (2) (per Mcf): $0.25 to $1.00

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