Continental Resources: Projected To Generate Close To $2 Billion In 2H 2022 Cash Flow Now
Continental is unhedged on oil, so its near-term cash flow is fully affected by swings in oil prices. ...
Continental is unhedged on oil, so its near-term cash flow is fully affected by swings in oil prices. It is still projected to generate close to $2 billion in 2H 2022 cash flow before dividends.
The reduction in near-term cash flow projections does bring Continental's estimated value down to the mid-$70s, closer to Hamm's $70 offer.
Continental is unhedged on crude oil (except for NYMEX roll swaps). It does have the majority of its 2H 2022 natural gas production hedged, as well as around 43% of its 2023 natural gas production and 31% of its 2024 natural gas production hedged(based on 2H 2022 production levels at least).
Italians head to polls Sunday to vote in national elections.
Observers forecast far-right candidate Giorgia Meloni will succeed outgoing centrist Prime Minister...
Observers forecast far-right candidate Giorgia Meloni will succeed outgoing centrist Prime Minister Mario Draghi. Her nationalist-populist party, Brothers of Italy, is also projected to win in parliament. Meloni would become the first female prime minister and lead the most far-right Italian government since World War II, analysts say.
British pound falls as UK government proposes historic tax cuts
The package, announced Friday, is the largest of its kind in 50 years. It includes reversing income...
The package, announced Friday, is the largest of its kind in 50 years. It includes reversing income tax hikes and canceling a planned corporate tax increase to keep the rate at 19%—the lowest corporate rate in the G-20. The announcement sent the British pound to a fresh 37-year low against the US dollar and came a day after the Bank of England said the UK economy was likely in a recession.
Dow ends down nearly 500 points Friday, off 4% for week as recession fears mount
Stocks ended with sharp declines, but off session lows, with...
Stocks ended with sharp declines, but off session lows, with the Dow Jones Industrial Average averting a bear market as it posted its lowest close of 2022. Equities fell sharply as government bond yields soared following the Federal Reserve's rate increase and tightening by other central banks and as the U.S. dollar soared versus major rivals. The Dow DJIA, -1.62% ended around 486 points lower, down 1.6%, near 29,590, according to preliminary figures. The Dow fell more than 800 points at its session low and temporarily traded below the threshold that would have seen the blue-chip gauge fall into a bear market. The S&P 500 SPX, -1.72% fell 1.7% to end near 3,693, after trading below its June 16 closing low of 3,666.77, during the session. The Nasdaq Composite COMP, -1.80% shed 1.8% to finish near 10,868.
US Drillers Add Oil Rigs for Second Consecutive Week
U.S. energy firms this week added oil and natural gas rigs for...
U.S. energy firms this week added oil and natural gas rigs for a second week in a roweven as the rig count was on track to fall for a second consecutive month as supply chain disruptions and inflation continue to roil production.
The total oil and gas rig count, an early indicator of future output, rose one to 764 in the week to Sept. 23, energy services firm Baker Hughes Co. said in its closely followed report.
Baker Hughes said that puts the total rig count up 243, or 47%, over this time last year.
U.S. oil rigs rose three to 602 this week, while gas rigsfell two to 160.
The total rig count fell in August and was on track to fall again in September after rising for a record 24 months in a row.
