Bulls REASONS TO BUY
Bears REASONS TO SELL
May 18, 2013
(Energy and Capital, 12/5/12)
After tapping a deeper layer of the Bakken, Continental Resources (NYSE:CLR) estimates the formation could hold up to 57% more crude.
(Energy and Capital, 11/9/12)
After reporting a 90% plummet in third quarter profits, Continental Resources (NYSE: CLR) is hoping to turn things around with asset sales and a Bakken purchase...
UPDATE: Burleson LLP Represents Wheatland Oil in $340 Million Sale of Bakken Assets to Continenta...
(Phil’s Stock World, 3/30/12)
Courtesy of Benzinga. The energy law firm of Burleson LLP announced today that it represented Wheatland Oil, Inc. in a $340 million transaction to sell assets in the Bakken shale play to Continental Resources, Inc. (NYSE: CLR). In connection with [...]
Continental Resources (CLR) Company Overview
Continental Resources had its initial public offering in May of 2007 and its stock price has more than tripled since then. Continental's engineers have been using high-end extraction techniques for nearly a decade, giving them an established knowledge of the intricacies of technologies like horizontal drilling - a boon in a market where record-high oil prices have made such expensive techniques cost-efficient. The majority of its reserves - around 77% - are filled with oil, giving the company more exposure to oil prices than to natural gas prices, which have also trended upwards, but to a much lesser degree. These reserves, located primarily in the Rocky Mountains, are also mostly unconventional, meaning they can produce well but are dependent on high-cost drilling techniques - risky to hold in the event that oil prices drop, as the company's margins, which have been over 50% for the last three years, would collapse. Continental competes with other onshore E&P companies like Cabot Oil & Gas, XTO Energy, Unit, Forest Oil, Equitable Resources, and Cimarex Energy Co.(Read more at Wikinvest )
What's in this CLR analysis on Wikinvest...