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JUNE 2015 INVESTOR UPDATE – Continental Resources, Inc.

Continental Resources, Inc. · Jun 25, 2015 · 25 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. JUNE 2015 INVESTOR UPDATE – Continental Resources, Inc. – slide 1
    INVESTOR UPDATE PROPERTY OF CONTINENTAL RESOURCES, INC. REPRODUCTION AND DISTRIBUTION ONLY WITH WRITTEN PERMISSION AS OF JUNE 2015
  2. JUNE 2015 INVESTOR UPDATE – Continental Resources, Inc. – slide 2
    CONTINENTAL RESOURCES WHO WE ARE 438% PRODUCTION GROWTH LAST 5 YEARS (Q1 2010 TO Q1 2015) EXCEPTIONAL ORGANIC GROWTH 425% PROVED RESERVES GROWTH LAST 5 YEARS (2009 - 2014) 9TH LARGEST OIL PRODUCER IN LOWER 48(1) OIL-FOCUSED AND…
  3. JUNE 2015 INVESTOR UPDATE – Continental Resources, Inc. – slide 3
    EXCEPTIONAL, ORGANIC GROWTH PRODUCTION GROWTH TOTAL PROVED RESERVES 206,800 200,000 1,400 1,351 SCOOP SCOOP 0 24% Bakken 201 21% 1,200 Bakken 01 0 Legacy E Legacy 2 27% C E BOE PER DAY N C SI 150,000 N SI 1,000…
  4. JUNE 2015 INVESTOR UPDATE – Continental Resources, Inc. – slide 4
    PORTFOLIO OF WORLD-CLASS ASSETS FOR LONG-TERM GROWTH BAKKEN 1,150,000 NET ACRES ASSET STAGE OF DEVELOPMENT First stage of full-field Bakken development underway STACK SCOOP 134,000 NET ACRES Expanding and derisking Woodford…
  5. JUNE 2015 INVESTOR UPDATE – Continental Resources, Inc. – slide 5
    IMPROVING ROR AS COSTS REALIGN SCOOP SPRINGER BAKKEN 100% 100% Target EUR: 940 MBoe Target EUR: 800 MBoe Avg. Lateral: 4,500 Avg. Lateral: 9,800 80% 80% 60% 60% ROR ROR 40% 40% 20% 7.8MM CWC (20% Reduction) 20% 7.7MM…
  6. JUNE 2015 INVESTOR UPDATE – Continental Resources, Inc. – slide 6
    2015 CAPITAL EXPENDITURE BUDGET NON-ACQUISITION CAPITAL Drilling capital allocation: Bakken: 65% EXPENDITURES: 2.7B SCOOP: 31% - Woodford: 24% Leasehold - Springer: 7% Other Drilling 180MM NW Cana JDA & Other: 4% 100MM Other…
  7. JUNE 2015 INVESTOR UPDATE – Continental Resources, Inc. – slide 7
    2015 BAKKEN: FOCUSING ON THE CORE OUTLINES OF PRODUCTIVE BAKKEN AND THREE FORKS RESERVOIRS TARGETING AVERAGE EUR OF 800 MBOE CANADA PER WELL: MT ND MB & TF1 30-STAGE ENHANCED COMPLETIONS ENTERING FIRST STAGE OF…
  8. JUNE 2015 INVESTOR UPDATE – Continental Resources, Inc. – slide 8
    BAKKEN RETURNS INCREASING WELL 9.6 800 MBOE Bakken Type Curve Economics 9.6 COST 10 9 60% DOWN 8 8.2 7.7 7.7 50% 42% ROR 15% WELL COST (MM) 7 38% ROR 40% 6 34% ROR CURRENT ROR 5 30% 23% ROR 4 20% 3…
  9. JUNE 2015 INVESTOR UPDATE – Continental Resources, Inc. – slide 9
    ENHANCED COMPLETION RESULTS IMPROVING 90-DAY PRODUCTION COMPARISON FOR 30-STAGE COMPLETIONS IN BAKKEN(1) 80,000 25% - 45% INCREASE IN EUR PRODUCTION UPLIFT 70,000 50% Slickwater (24 Wells) 60,000 40% Hybrid (21 Wells) 50,000…
  10. JUNE 2015 INVESTOR UPDATE – Continental Resources, Inc. – slide 10
    2015 SCOOP WOODFORD PROGRAM EXPANDING PRODUCTIVE FOOTPRINT DENSITY TESTING TO DEFINE OPTIMUM SPACING THREE IN THE CONDENSATE WINDOW Good Martin Unit PROJECT OF WELLS STATUS May Unit POTEET 10 PRODUCING HONEYCUTT 10 COMPLETING…
  11. JUNE 2015 INVESTOR UPDATE – Continental Resources, Inc. – slide 11
    THE POTEET DENSITY PROJECT WOODFORD CONDENSATE FAIRWAY IL ES CLR CONDENSATE FAIRWAY INFILL 1 .5 M 10-WELL DENSITY DUAL HORIZON 330 ' 1,320 ' 2,640 ' 1,320 ' 330 ' 10 WELLS HAD COMBINED PEAK PRODUCTION RATES OF 146,840 MCFD AND…
  12. JUNE 2015 INVESTOR UPDATE – Continental Resources, Inc. – slide 12
    2015 SCOOP SPRINGER PROGRAM SCOOP RAMSEY TRUST 1-16-9XH CONTINUED SUCCESS WITH OIL FAIRWAY STEP OUTS FIRST XL IN DRIFTWOOD, IP: 2,235 BOEPD FIRST EXTENDED LATERAL TEST COMPLETED DURING 1Q 2015 HARTLEY UNIT OMER 1-17H RAMSEY TRUST…
  13. JUNE 2015 INVESTOR UPDATE – Continental Resources, Inc. – slide 13
    THE JEANNA DENSITY PROJECT SPRINGER OIL FAIRWAY 4-WELL DENSITY TEST 4 WELLS HAD A MAXIMUM COMBINED PEAK PRODUCTION OF 3,852 BOED ILE 1M AVERAGE OWNERSHIP: 87% WORKING INTEREST JEANNA DAILY PRODUCTION(1) 10,000 4 Jeanna…
  14. JUNE 2015 INVESTOR UPDATE – Continental Resources, Inc. – slide 14
    NW CANA JDA & STACK COMPOUNDING VALUE FORMATION SCHANTZ 1-5-8XH FIRST JDA WELL Atoka Sands 14 MMcfd FIRST STACK WELL Pennsylvanian CURRENTLY DRILLING STACK Morrow Sands 134,000 NET ACRES TARGETING MERAMEC AND OSAGE…
  15. JUNE 2015 INVESTOR UPDATE – Continental Resources, Inc. – slide 15
    STACK EMERGING RESOURCE PLAY FOR CLR CLR ACREAGE 134,000 NET ACRES LUDWIG 1-22-15XH Limit of over-pressured STACK play FIRST STACK 50% HBP WELL CURRENTLY DRILLING CLR LUDWIG 1-22-15XH DRILLING 73% WORKING INTEREST 9,875…
  16. JUNE 2015 INVESTOR UPDATE – Continental Resources, Inc. – slide 16
    LOW CASH COST DRIVING EXCELLENT MARGINS 80 72.45 72.04 70 54.74 53.52 66.53 65.99 48.59 48.86 59.35 60 Avg. realized /BOE (3) 43.32 50 44.68 30.93 40 76% 74% 74% 73% 31.65 30 73% 18.04 69% 20 3.34 3.40 3.95 4.74…
  17. JUNE 2015 INVESTOR UPDATE – Continental Resources, Inc. – slide 17
    INVESTMENT GRADE FINANCIAL PROFILE FINANCIAL RATIOS(1) FINANCIAL STRENGTH Net Debt / TTM EBITDAX(2) 1.96x Net Debt / YE14 Proved Reserves 4.99 AMPLE LIQUIDITY WITH REVOLVER, UPSIZED TO 2.5 Net Debt / 1Q15 Avg. Daily Production 32,584…
  18. JUNE 2015 INVESTOR UPDATE – Continental Resources, Inc. – slide 18
    EXECUTING 2015 PLAN PRODUCTION & CAPITAL 2015 GUIDANCE AS OF YE 2014 1Q 2015 RESULTS PERFORMANCE Production growth (YOY) 16% to 20% 206,829 Boe per day 2,700 984 Capital expenditures (non-acquisition, in millions) Operating…
  19. JUNE 2015 INVESTOR UPDATE – Continental Resources, Inc. – slide 19
    CONTACT INFORMATION J. Warren Henry Vice President, Investor Relations & Research Phone: 405-234-9127 Email: Warren.HenryCLR.com Alyson L. Gilbert Senior Investor Relations Analyst Phone: 405-774-5814 Email:…
  20. JUNE 2015 INVESTOR UPDATE – Continental Resources, Inc. – slide 20
    APPENDIX PROPERTY OF CONTINENTAL RESOURCES, INC. REPRODUCTION AND DISTRIBUTION ONLY WITH WRITTEN PERMISSION 21 AS OF JUNE 2015
  21. JUNE 2015 INVESTOR UPDATE – Continental Resources, Inc. – slide 21
    BAKKEN TRANSPORTATION OPTIONALITY Set up to begin exports if ban is lifted Access to refineries on 3 U.S coasts and eastern Canada 15+ unit train loading facilities Numerous pipelines with more on the way 3,000 2,500…
  22. JUNE 2015 INVESTOR UPDATE – Continental Resources, Inc. – slide 22
    CONTINUING TO DELIVER EXCELLENT MARGINS 2009 2010 2011 2012 2013 2014 1Q2015 Realized oil price (/Bbl) 54.44 70.69 88.51 84.59 89.93 81.26 38.56 Realized natural gas price (/Mcf) 2.95 4.26 4.87 3.73 4.87 5.40 2.70 Oil production…
  23. JUNE 2015 INVESTOR UPDATE – Continental Resources, Inc. – slide 23
    EBITDAX RECONCILIATION TO GAAP We use a variety of financial and operational measures to assess our performance. Among these measures is EBITDAX. We define EBITDAX as earnings (net income) before interest expense, income taxes,…
  24. JUNE 2015 INVESTOR UPDATE – Continental Resources, Inc. – slide 24
    EBITDAX RECONCILIATION TO GAAP The following tables provide reconciliations of our net income and operating cash flows to EBITDAX for the periods presented: In thousands 2009 2010 2011 2012 2013 2014 1Q2015 Net income (loss) 71,338…
  25. JUNE 2015 INVESTOR UPDATE – Continental Resources, Inc. – slide 25
    ADJUSTED EARNINGS RECONCILIATION TO GAAP Our presentation of adjusted earnings and adjusted earnings per share that exclude the effect of certain items are non-GAAP financial measures. Adjusted earnings and adjusted earnings per share…

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