Summary by Moomoo AI
Continental Resources, a prominent crude oil and natural gas company, reported a mixed financial performance for the first quarter of 2024. The company saw a net loss on derivative instruments of $113.2 million, a stark contrast to the net gain of $382.8 million in the same period of the previous year. Despite this, total revenues reached $1.82 billion, although this was a decrease from $2.19 billion in the first quarter of 2023. The company's sales of crude oil, natural gas, and natural gas liquids rose to $1.91 billion, up from $1.79 billion year-on-year, driven by increased sales volumes and a slight uptick in crude oil prices. However, natural gas prices saw a decrease. Production expenses per Boe decreased slightly, reflecting higher sales volumes and cost...Show More