In a usual CLR fashion, hedging seems to be a foreign concept, so exposure to low pricing is high. Harold believes he can will into reality higher prices, but not even his investment in Trump is paying out that great. He is also touted the company can make it on 50 dollar oil... hmmm.... share price seems and latest moves by the company seem to indicate otherwise. Short short short any uptick on share price! Invest in tech, that seems to be immune to viruses and other issues. Oh by the way, wondering about layoffs... they are coming soon
5 replies (most recent on top)
Its not that hard to figure out. Why hedge? Clr will be just fine. Oil is always up and down
I was right, ole crooked Hamm pulled the “force majeure” to try to get out of delivery contracts.....short short CLR stock. Haven’t heard from others who are pulling this trick. Can’t trust the company because you can’t trust the man! Lawsuits coming or maybe already started. No asset write downs .... hmmmm
Not telling you which division I work in. But at $30/bbl not a chance. Maybe $55 but just go back in time to every press release and see what price per bbl CLR has claimed to be able to sustain and make money or break even and compare it to the rig count. My guess you will conclude that $65 is a much more realistic number. And since the reporting on production is done in mboe, you would need to look at the mix of our production. And see if the company is getting gassier. If you do you may find that the later is true. STACK for sure. SCOOP less. But both plays are expensive to DNC. ND transportation cost eats CLR alive
CLR is not hedged so these prices will hurt them tremendously. They also shut in all their wells in ND so no revenue being generated there. They will have to tap into their credit facilities to continue operations.
What division do you work in there? Do you think they can make it with prices under $30?