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Title : CLR Earnings -- 3Q18
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CLR Earnings -- 3Q18

Over at "Bakken operators" these were most recent entries for CLR (2017 - 2018):

• 2Q18 presentation: step change in well performance across the Bakken
• May, 2018, presentation: 796,000 net acres in the Bakken; 161K boepd, up 48% over 1Q17; 1,100 mboe EUR type curves ($7.9 million) vs 980 mboe EUR type curves in 2017; see SeekingAlpha article;
• March, 2018: 1.1 million-bbl EUR type curves; 
• August, 2017: 806,000 net acres in the Bakken; 1.1 million boe EURs 

Now, let's look at 3Q18 earnings, sources:

• press release
• AP snapshot 
• Reuters

Data points:

• income
• • net income: $314 million; $0.84 per diluted share
  • adjusted net income: $337 million; 40.90 per diluted share
  • results topped Wall Street expectations: Zacks -- 81 cents/share 
• revenue
• • revenue: $1.28 billion
  • results topped expectations: $1.21 billion
• production
• • production, average 3Q18: 296,900 boepd (beats 3Q18 guidance and consensus)
  • production, average 3Q18: 164,605 bopd (up 5% sequentially; and up 17% yoy)
  • percentage oil: 164,605/296,900 = 55%
• Bakken production
• • 167,643 boepd; up 23% yoy
• expects strong finish for CY2018 with "70 of our forecasted 2018 Bakken wells scheduled to be completed by year end"
• shares are up 28% in last 12 months; trading at around $50
• production records hit
• added two rigs in the Bakken, bringing its current total to eight
• production is expected to average 1.3 million bbls in November, 2018 -- EIA
• oil production remains unhedged
• some rivals, including EOG and Pioneer Natural Resources have warned investors that hedging may affect profits

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