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August 2015 Investor Presentation – Continental Resources, Inc.

Continental Resources, Inc. · Aug 4, 2015 · 31 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. August 2015 Investor Presentation – Continental Resources, Inc. – slide 1
    INVESTOR UPDATE PROPERTY OF CONTINENTAL RESOURCES, INC. REPRODUCTION AND DISTRIBUTION ONLY WITH WRITTEN PERMISSION AS OF AUGUST 2015
  2. August 2015 Investor Presentation – Continental Resources, Inc. – slide 2
  3. August 2015 Investor Presentation – Continental Resources, Inc. – slide 3
  4. August 2015 Investor Presentation – Continental Resources, Inc. – slide 4
    PORTFOLIO OF WORLD-CLASS ASSETS FOR LONG-TERM GROWTH BAKKEN 1,105,000 NET ACRES ASSET STAGE OF DEVELOPMENT First stage of full-field Bakken development underway STACK SCOOP 136,400 NET ACRES Expanding and derisking Woodford…
  5. August 2015 Investor Presentation – Continental Resources, Inc. – slide 5
    RATES OF RETURN BAKKEN SCOOP WOODFORD CONDENSATE 100% Target EUR: 1,725 MBoe 9.2MM Target CWC (25% Reduction) 100% Target EUR: 800 MBoe 7.2MM Target CWC (25% Reduction) Avg. Lateral: 7,500 9.8MM Current CWC (20% Reduction) Avg.…
  6. August 2015 Investor Presentation – Continental Resources, Inc. – slide 6
    EXCEPTIONAL, ORGANIC GROWTH PRODUCTION GROWTH TOTAL PROVED RESERVES 216,700 1,351 1,400 SCOOP SCOOP 200,000 Bakken 26% 1,200 Bakken Legacy 27% Legacy BOE PER DAY 1,000 MMBOE 150,000 800 64% 100,000 600 64% 400…
  7. August 2015 Investor Presentation – Continental Resources, Inc. – slide 7
    SOUTHERN OPERATIONS STACK STACK 136,400 net acres NW CANA JDA 31,000 net acres* NW CANA JDA SCOOP SPRINGER 210,000 net acres SCOOP SCOOP WOODFORD 460,000 net acres Woodford Shale Thickness 50 ft SCOOP SPRINGER 100…
  8. August 2015 Investor Presentation – Continental Resources, Inc. – slide 8
    STACK EMERGING RESOURCE PLAY FOR CLR Marks 1-9-4XH CLR ACREAGE Lateral TD. WOC Limit of over-pressured STACK play 136,400 NET ACRES Ludwig 1-22-15XH IP: 2,076 Boepd 60% HBP Ladd 1-5-8XH Currently Drilling 95% IN OVER-PRESSURED…
  9. August 2015 Investor Presentation – Continental Resources, Inc. – slide 9
    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 PRODUCING…
  10. August 2015 Investor Presentation – Continental Resources, Inc. – slide 10
  11. August 2015 Investor Presentation – Continental Resources, Inc. – slide 11
    2015 SCOOP SPRINGER PROGRAM SCOOP CONTINUED SUCCESS WITH OIL FAIRWAY STEP OUTS CHESTER 1-32H IP: 1,733 BOEPD 4,999 LATERAL Hartley Pilot CELESTA 1-5-32XH Chester 1-32H IP: 1,733 Boepd SECOND EXTENDED LATERAL TEST COMPLETED IP:…
  12. August 2015 Investor Presentation – Continental Resources, Inc. – slide 12
    NW CANA JDA & STACK COMPOUNDING VALUE STACK STACK 136,400 NET ACRES TARGETING MERAMEC AND OSAGE RESERVOIRS NW CANA JDA CURRENTLY COMPLETING SECOND WELL NW CANA JOINT DEVELOPMENT AGREEMENT (JDA) 31,000 NET ACRES TARGETING…
  13. August 2015 Investor Presentation – Continental Resources, Inc. – slide 13
    NORTHERN OPERATIONS CLR Leasehold PROPERTY OF CONTINENTAL RESOURCES, INC. REPRODUCTION AND DISTRIBUTION ONLY WITH WRITTEN PERMISSION 14 AS OF AUGUST 2015
  14. August 2015 Investor Presentation – Continental Resources, Inc. – slide 14
    2015 BAKKEN: FOCUSING ON THE CORE OUTLINES OF PRODUCTIVE BAKKEN AND THREE FORKS RESERVOIRS CANADA AVERAGE EUR UP 45% FROM 2014 MT ND MB & TF1 2015 TARGET AVERAGE EUR 800 MBOE PER WELL 2014 AVERAGE EUR 550 MBOE PER WELL…
  15. August 2015 Investor Presentation – Continental Resources, Inc. – slide 15
    BAKKEN PERFORMANCE DECLINING F&D COSTS IMPROVING CAPITAL EFFICIENCY(2) 9.8MM(1) CURRENT EST. 900 800 100 10 25 WELL CAPITAL MBOE EFFICIENCY (target) COST 90 CAPITAL EFFICIENCY (NET BOE/1,000) (3) 9 800 8 7.7MM 20 85 80…
  16. August 2015 Investor Presentation – Continental Resources, Inc. – slide 16
    ENHANCED COMPLETIONS CONTINUE TO DELIVER 90-DAY PRODUCTION COMPARISON FOR 30-STAGE COMPLETIONS IN BAKKEN(1) 65,000 60,000 25% - 45% INCREASE IN EUR PRODUCTION UPLIFT 55,000 50% Slickwater (35 Wells) 50,000 45,000 40% Hybrid (38…
  17. August 2015 Investor Presentation – Continental Resources, Inc. – slide 17
    LOW CASH COST DRIVING STRONG MARGINS 80 72.45 72.04 70 54.74 53.52 66.53 65.99 48.59 48.86 59.35 Avg. realized /BOE (3) 60 43.32 50 44.68 30.93 40 37.82 76% 74% 74% 73% 31.65 25.39 30 73% 18.04 69% 67% 20 57%…
  18. August 2015 Investor Presentation – Continental Resources, Inc. – slide 18
    INVESTMENT GRADE FINANCIAL PROFILE FINANCIAL RATIOS(1) Net Debt / TTM EBITDAX(2) 2.16x Net Debt / YE14 Proved Reserves 5.15 FINANCIAL STRENGTH AMPLE LIQUIDITY WITH Net Debt / 2Q15 Avg. Daily Production 30,743 3 Year Avg. Recycle…
  19. August 2015 Investor Presentation – Continental Resources, Inc. – slide 19
    EXECUTING 2015 PLAN PRODUCTION & CAPITAL 2015 GUIDANCE AS OF 8/5/15 2Q 2015 RESULTS Production growth (YOY) 19% to 23%* 226,547 Boe per day Capital expenditures (non-acquisition, in millions) 2,700 586 Operating Expenses…
  20. August 2015 Investor Presentation – Continental Resources, Inc. – slide 20
    APPENDIX PROPERTY OF CONTINENTAL RESOURCES, INC. REPRODUCTION AND DISTRIBUTION ONLY WITH WRITTEN PERMISSION 21 AS OF AUGUST 2015
  21. August 2015 Investor Presentation – Continental Resources, Inc. – slide 21
    CONTINENTAL RESOURCES WHO WE ARE 490% PRODUCTION GROWTH LAST 5 YEARS (Q1 2010 TO Q2 2015) EXCEPTIONAL ORGANIC GROWTH 425% PROVED RESERVES GROWTH LAST 5 YEARS (2009 - 2014) 12TH LARGEST OIL PRODUCER IN LOWER 48(1) LEADING…
  22. August 2015 Investor Presentation – Continental Resources, Inc. – slide 22
    2015 CAPITAL EXPENDITURE BUDGET NON-ACQUISITION CAPITAL Drilling capital allocation: Bakken: 65% EXPENDITURES: 2.7B SCOOP: 31% - Woodford: 24% NW Cana JDA & Leasehold - Springer: 7% Other Drilling 180MM NW Cana JDA & Other: 4%…
  23. August 2015 Investor Presentation – Continental Resources, Inc. – slide 23
    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 3,500 3,000…
  24. August 2015 Investor Presentation – Continental Resources, Inc. – slide 24
  25. August 2015 Investor Presentation – Continental Resources, Inc. – slide 25
  26. August 2015 Investor Presentation – Continental Resources, Inc. – slide 26
    SCOOP ECONOMICS Woodford Condensate Type Curve Springer Shale Type Curve 1,800 270 900 90 1,600 4,500' Act. Well Count 240 800 Well Count 80 Ext. Act. Well Count Type Curve (Normalized to 4,500' LL) 1,400 4,500' Act. ProducRon…
  27. August 2015 Investor Presentation – Continental Resources, Inc. – slide 27
    CONTINUING TO DELIVER STRONG MARGINS 2009 2010 2011 2012 2013 2014 1Q 2015 2Q 2015 Realized oil price (/Bbl) 54.44 70.69 88.51 84.59 89.93 81.26 38.56 49.84 Realized natural gas price (/Mcf) 2.95 4.26 4.87 3.73 4.87 5.40 2.70 2.31…
  28. August 2015 Investor Presentation – Continental Resources, Inc. – slide 28
    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,…
  29. August 2015 Investor Presentation – Continental Resources, Inc. – slide 29
    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 1Q 2015 2Q 2015 Net income…
  30. August 2015 Investor Presentation – Continental Resources, Inc. – slide 30
    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…
  31. August 2015 Investor Presentation – Continental Resources, Inc. – slide 31
    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:…

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