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Investor Update – Continental Resources, Inc.

Continental Resources, Inc. · Aug 10, 2012 · 24 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. Investor Update – Continental Resources, Inc. – slide 1
    Investor Update December 5, 2012 August 10, 2011
  2. Investor Update – Continental Resources, Inc. – slide 2
    Continental Resources, Inc. Bold Company. Bright Future. Were outpacing our five year plan to triple production with achievement slated for MY2013. Accelerated ND Bakken drilling enables Continental to shift more rapidly to ECO-Pad…
  3. Investor Update – Continental Resources, Inc. – slide 3
    Continental Resources, Inc. Americas Oil Champion 1 oil producer in Williston Basin Proved Reserves 610 MMBoe at June 2012 20% YTD growth Strong 2Q 2012 results Surpassed 100,000 Boepd milestone in June Averaged 94,852 Boepd in 2Q…
  4. Investor Update – Continental Resources, Inc. – slide 4
    Bakken Production Leader TTM Production* Continental 21.2 MMBo Co. 2 17.5 MMBo Co. 3 16.9 MMBo Co. 4 16.0 MMBo Co. 5 9.5 MMBo Source: DI Desktop (HPDI) June 2011 to May 2012 5
  5. Investor Update – Continental Resources, Inc. – slide 5
    Continental Resources, Inc Not Your Typical Energy Company Focused on oil through organic exploration and development 69% production (does not include NGLs) Leader in world class legacy fields (Production and Development) Bakken -…
  6. Investor Update – Continental Resources, Inc. – slide 6
    Strong Production Growth MMBoe 35.7 22.6 15.8 9.0 73% oil 83% oil Est.* *Midpoint of 57%-to-59% guidance range. 7
  7. Investor Update – Continental Resources, Inc. – slide 7
    Strong Growth in Proved Reserves MMBoe 650 610 600 550 508 500 450 400 365 350 300 65% 250 oil 200 150 118 100 83% 50 oil 0 2006 2007 2008 2009 2010 2011 Mid Year 2012 8
  8. Investor Update – Continental Resources, Inc. – slide 8
    Five-Year Growth Plan MMBoe Production MMBoe Proved Reserves 771 50 800 41 610 40 35.7 600 508 30 400 257 20 13.6 10 200 0 0 2009 2010 2011 2012 2014 2009 2010 2011 MY 2014 Est.* Est. 2012 Est. significantly ahead of plan…
  9. Investor Update – Continental Resources, Inc. – slide 9
    Cost Discipline Driving Excellent Margins Years Ended December 31 2009 2010 2011 1H 2012 Realized oil price (/Bbl) 54.44 70.69 88.51 85.40 Realized natural gas price (/Mcf) 3.22 4.49 5.24 3.96 Oil production (Bopd) 27,459 32,385…
  10. Investor Update – Continental Resources, Inc. – slide 10
    The Bakken Keeps Getting Better 24 billion Boe technically recoverable oil and gas* 4,500 horizontal wells drilled CLR: 1,220 gross wells Industry adding 2,500 wells per year Two successful wells in the 2nd bench of the Three…
  11. Investor Update – Continental Resources, Inc. – slide 11
    CLR ND Bakken Acreage 72% De-Risked Approaching 1,000,000 net acres largest acreage holder 694,294 net ND acres 251,954 net MT acres 603,000 Boe EUR per well (ND) 19 operated rigs15 in ND and 4 in MT Testing deeper TF bench CLRs…
  12. Investor Update – Continental Resources, Inc. – slide 12
    ECO-Pad Enhances Development 10% lower cost per well 9 of 15 operated rigs in ND shifted to Eco-Pad Drilling 13
  13. Investor Update – Continental Resources, Inc. – slide 13
    Montana Bakken 6 gross operated wells (5 net wells) completed in 2Q2012 Four-rig drilling program continuing in 2012 14
  14. Investor Update – Continental Resources, Inc. – slide 14
    Expanding the Bakken Vertically Estimated Lodgepole original oil in place Upper Bakken Shale BAKKEN OVERPRESSURED BAKKEN PETROLEUM FM Middle Bakken ISOPACH Lower Bakken Shale 577 BBo INTERVAL 1st Bench 903 Billion…
  15. Investor Update – Continental Resources, Inc. – slide 15
    Bakken/Three Forks Cross-Section Lodgepole A Upper Bakken A Middle Bakken Lower Bakken 1st TF 375 2nd TF 3rd TF Organic Shale MB Limestone/Dolomite/Sand MB Shaley Limestone/Dolomite 4th TF Three Forks Dolomite…
  16. Investor Update – Continental Resources, Inc. – slide 16
    Charlotte Unit: First 3rd Bench Three Forks Test 1280 acres Sec 15 & 22, T152N-R99W Middle Bakken and 2nd bench TF already producing. LODGEPOLE Upper Bakken Shale Plan to drill wells in 1st and Charlotte 1-22H MB 3rd benches of…
  17. Investor Update – Continental Resources, Inc. – slide 17
    Bakken Growth and Returns Rate of return Potential Net drilling (MMBoe) locations 100% 2,500 5,000 ECO-Pad well 90% CWC: 8.3MM 3,955 locations 603 MBoe EUR 80% 2,000 4,000 Single well 70% CWC: 9.2MM 603 MBoe EUR 1,500 1,901…
  18. Investor Update – Continental Resources, Inc. – slide 18
    Anadarko Woodford 16,672 Boepd in 2Q12, over 4x the production in 2Q11 8 rigs at end of 2Q12, will shift to 6 rigs in 3Q12 Concentrate drilling ops in oily Andys Neck, located in SE OKLAHOMA Cana Woodford Completion 315,675…
  19. Investor Update – Continental Resources, Inc. – slide 19
    Anadarko Woodford Potential Net drilling Rate of (MMBoe) locations return 4,000 4,000 100% 3,307 locations 80% 3,000 3,000 2,741 MMBoe 60% 1,611 2,000 locations 2,000 40% SE Cana Neck CWC: 9.5MM 1,000 1,335 1,000 1,600…
  20. Investor Update – Continental Resources, Inc. – slide 20
    Creating Value Through Long-Term Sustainable Growth Consistent, strong organic growth 2012 Guidance: 57% to 59% production growth Outpacing goal of tripling production and proved reserves from 2009-2014, on track for early achievement…
  21. Investor Update – Continental Resources, Inc. – slide 21
    Appendix 22
  22. Investor Update – Continental Resources, Inc. – slide 22
    2012 Guidance Capital expenditures budget, excluding acquisitions 3.0 Billion Production growth 57% to 59% Price differentials: WTI crude oil (Bo) 11 to 13 Henry Hub natural gas (Mcf) +1 to +1.50 Operating expenses per Boe: Production…
  23. Investor Update – Continental Resources, Inc. – slide 23
    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 July 2012 - December 2012 Swaps - WTI 3,680,000 88.69…
  24. Investor Update – Continental Resources, Inc. – slide 24
    EBITDAX Reconciliation to GAAP Year Ended December 31, 2009 2010 2011 1H 2012 in thousands Net income 71,338 168,255 429,072 474,778 Interest expense 23,232 53,147 76,722 55,969 Provision for income taxes 38,670 90,212 258,373…

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