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Q1 2012 EARNINGS CALL – Continental Resources, Inc.

Continental Resources, Inc. · May 4, 2012 · 21 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. Q1 2012 EARNINGS CALL – Continental Resources, Inc. – slide 1
    Investor Update February 27, 2012 May 4, 2012
  2. Q1 2012 EARNINGS CALL – Continental Resources, Inc. – slide 2
    Continental Resources, Inc. 1 oil producer in Williston Basin Strong 1Q 2012 results Average daily production up 66% with 1Q production growth to 85,526 Boepd 454.5MM EBITDAX; +69% YOY* 1.3B EBITDAX for 2011; +61% YOY 508 MMBoe…
  3. Q1 2012 EARNINGS CALL – Continental Resources, Inc. – slide 3
    Creating Value Through Growth Consistent, organic growth 2012 Guidance: 47% to 50% production growth Goal: 3X production and proved reserves 2009-2014 Multi-decade drilling inventory Crude oil/liquids in premier U.S. resource plays…
  4. Q1 2012 EARNINGS CALL – Continental Resources, Inc. – slide 4
    Strong Production Growth MMBoe 33.6 22.6 15.8 9.0 73% oil 83% oil Est.* *Midpoint of 47%-to-50% guidance range. 5
  5. Q1 2012 EARNINGS CALL – Continental Resources, Inc. – slide 5
    Strong Growth in Proved Reserves MMBoe 508 365 64% oil 118 83% oil 6
  6. Q1 2012 EARNINGS CALL – Continental Resources, Inc. – slide 6
    Five-Year Growth Plan MMBoe Production MMBoe Proved Reserves 771 41 33.6 508 257 13.6 Est.* Est. Est. ahead of plan We are solidly on track to meet our five-year goals. *Midpoint of 47%-to-50% guidance range. 7
  7. Q1 2012 EARNINGS CALL – Continental Resources, Inc. – slide 7
    The Bakken Keeps Getting Better 200 Miles 24 billion Boe technically MIGRATED CONVENTIONAL OIL FIELDS recoverable oil and gas* 4,500 horizontal wells drilled CLR: 1220 gross wells Fault Zone Industry adding 2,500 wells 250…
  8. Q1 2012 EARNINGS CALL – Continental Resources, Inc. – slide 8
    CLR Bakken Acreage 80% De-Risked Approaching 1,000,000 net acres largest acreage holder MATURE BAKKEN 603,000 Boe EUR per well (ND) Charlotte 2-22H 24 operated rigs M. BKKN PINCHOUT Sunline 11-1TF-2SH Testing deeper TF bench…
  9. Q1 2012 EARNINGS CALL – Continental Resources, Inc. – slide 9
    Bakken Development Plan Original dual-zone development plan 10,000 8 wells per 1,280 1st ECO-Pad well pair below acres 4 MB, 4TF Upper Bakken Shale surface ECO-Pad design: 2 wells south, 2 Lower Bakken Shale wells north…
  10. Q1 2012 EARNINGS CALL – Continental Resources, Inc. – slide 10
    Montana Bakken NORTH DAKOTA MONTANA 7 gross operated N. EXTENSION EXPLORATORY wells completed in 1Q2012 DEVELOPMENT 46% average ROR Three-rig drilling program continuing in 2012 Bakken Producer S. EXTENSION AREA CLR…
  11. Q1 2012 EARNINGS CALL – Continental Resources, Inc. – slide 11
    ECO-Pad Enhances Development 10% lower cost per well CANADA 4Q 2011 ECO-Pad Projects (Avg. IP per well for 4 wells) Hamlet-Salo Dvirnak-Pletan 1,838 Boepd Williams Bailey-Wiley 1,105 Boepd Hamlet-Salo 811 Boepd McKenzie…
  12. Q1 2012 EARNINGS CALL – Continental Resources, Inc. – slide 12
    ND Bakken Growth and Returns Potential Net drilling Rate of (MMBoe) locations return 3,497 locations ECO-Pad well CWC: 7.2MM 603 MBoe EUR Single well 2,109 CWC: 8MM MMBoe 603 MBoe EUR 1,549 locations 934 337 MMBoe…
  13. Q1 2012 EARNINGS CALL – Continental Resources, Inc. – slide 13
    Anadarko Woodford 12,826 Boepd in 1Q12 Brown 1-2H Northwest Cana (+378% YOY) Southeast Cana Petty 1-16H Toms 1-21XH Poteet 1-17H (74% WI) 1,414 Boepd (17% oil) Lyle 1-30H (99% WI) 1,508 Boepd (22% oil) Wray 1-1H Northwest…
  14. Q1 2012 EARNINGS CALL – Continental Resources, Inc. – slide 14
    Anadarko Woodford Potential Net drilling Rate of (MMBoe) locations return SE Cana X-Unit CWC: 14MM 3,354 16.6 Bcfe EUR locations 3,312 SE Cana MMBoe CWC: 9MM 7.6 Bcfe EUR 1,663 NW Cana X-Unit locations CWC: 13MM 11.1 Bcfe…
  15. Q1 2012 EARNINGS CALL – Continental Resources, Inc. – slide 15
    Niobrara/DJ Basin Staudinger 1-31H (56% WI) 739 Boepd IP Buchner 1-2H (82% WI) 910 Boepd IP, 90% oil Hahn 1-4H Perrin 1-10H Marconi 1-1H Additional wells being Staudinger 1-31H completed 25,000 net acres in fairway (93,339 net…
  16. Q1 2012 EARNINGS CALL – Continental Resources, Inc. – slide 16
    Operating Discipline Years Ended December 31st 2009 2010 2011 1Q 2012 Realized oil price (/Bbl) 54.44 70.69 88.51 90.58 Realized natural gas price (/Mcf) 3.22 4.49 5.24 4.48 Oil production (Bopd) 27,459 32,385 45,121 59,901…
  17. Q1 2012 EARNINGS CALL – Continental Resources, Inc. – slide 17
    Creating Value Through Long-Term Sustainable Growth Consistent, strong organic growth Crude oil Bakken is the largest field discovered in 40 years High margins through operating control Capital discipline Hedged for operational…
  18. Q1 2012 EARNINGS CALL – Continental Resources, Inc. – slide 18
    Appendix 19
  19. Q1 2012 EARNINGS CALL – Continental Resources, Inc. – slide 19
    2012 Guidance Capital expenditures budget 2.3 Billion Operated drilling rigs (avg.) 40 Production growth 47% to 50% Price differentials: WTI crude oil (Bo) 9 to 11 Henry Hub natural gas (Mcf) +1 to +1.50 Operating expenses per…
  20. Q1 2012 EARNINGS CALL – Continental Resources, Inc. – slide 20
    Collars Crude Oil - West Texas Intermediate Swaps Floors Ceilings Weighted Weighted Weighted Period and Type of Contract Bbls Average Price Range Average Price Range Average Price April 2012 - December 2012 Swaps - WTI 5,500,000…
  21. Q1 2012 EARNINGS CALL – Continental Resources, Inc. – slide 21
    EBITDAX Reconciliation to GAAP Year Ended December 31 (In thousands) 2009 2010 2011 1Q 2012 Net income 71,338 168,255 429,072 69,094 Interest expense 23,232 53,147 76,722 24,278 Provision for income taxes 38,670 90,212 258,373 43,000…

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