Analyst asked whether CLR would consider hedging if oil recovered to $70. Deathly silence (you can just imagine all the execs suddenly inspecting their boots) ... followed by HH Oklahoman drawl with "No .... we will not be hedging at $70 oil ".
He is firmly in the camp of $80+ oil and he with the gold rules and in CLR's case he is King.
Also very interesting was that there are non of the customary covenants in the Revolver - just a total debt provision and so they are very comfortable with their liquidity.
Big focus in Williams (and McKenzie) county with their upgraded well design and slickwater hybrid program. (further upside in Rainbow maybe???)
SSN Price at posting:
1.4¢ Sentiment: None Disclosure: Not Held
