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EnerCom The Oil and Gas Conference 2015 – Continental Resources, Inc.

Continental Resources, Inc. · Aug 18, 2015 · 29 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. EnerCom The Oil and Gas Conference 2015 – Continental Resources, Inc. – slide 1
    Enercoms The Oil & Gas Conference 20 August 2015 PROPERTY OF CONTINENTAL RESOURCES, INC. REPRODUCTION AND DISTRIBUTION ONLY WITH WRITTEN PERMISSION AS OF AUGUST 2015
  2. EnerCom The Oil and Gas Conference 2015 – Continental Resources, Inc. – slide 2
  3. EnerCom The Oil and Gas Conference 2015 – Continental Resources, Inc. – slide 3
  4. EnerCom The Oil and Gas Conference 2015 – Continental Resources, Inc. – slide 4
    2016 capital capex 300 million 50 WTI capital expenditure $ million
  5. EnerCom The Oil and Gas Conference 2015 – Continental Resources, Inc. – slide 5
    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…
  6. EnerCom The Oil and Gas Conference 2015 – Continental Resources, Inc. – slide 6
    well cost Avg lateral NW Cana SCOOP Springer Bakken Williston Basin SCOOP Woodford Condensate Avg. Lateral EUR CWC Cost
  7. EnerCom The Oil and Gas Conference 2015 – Continental Resources, Inc. – slide 7
    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…
  8. EnerCom The Oil and Gas Conference 2015 – Continental Resources, Inc. – slide 8
    Stack NW Cana JDA SCOOP Scoop spring net acres
  9. EnerCom The Oil and Gas Conference 2015 – Continental Resources, Inc. – slide 9
    net acres HBP lateral IP boe stack
  10. EnerCom The Oil and Gas Conference 2015 – 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 PRODUCING…
  11. EnerCom The Oil and Gas Conference 2015 – Continental Resources, Inc. – slide 11
    days on production type curve working interest
  12. EnerCom The Oil and Gas Conference 2015 – Continental Resources, Inc. – slide 12
    Chester IP Boepd Lateral Density test producing no drilling planned woodford drilling
  13. EnerCom The Oil and Gas Conference 2015 – Continental Resources, Inc. – slide 13
    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…
  14. EnerCom The Oil and Gas Conference 2015 – Continental Resources, Inc. – slide 14
    NORTHERN OPERATIONS bakken williston CLR Leasehold PROPERTY OF CONTINENTAL RESOURCES, INC. REPRODUCTION AND DISTRIBUTION ONLY WITH WRITTEN PERMISSION 15 AS OF AUGUST 2015
  15. EnerCom The Oil and Gas Conference 2015 – Continental Resources, Inc. – slide 15
    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…
  16. EnerCom The Oil and Gas Conference 2015 – Continental Resources, Inc. – slide 16
    BAKKEN PERFORMANCE DECLINING F&D COSTS IMPROVING CAPITAL EFFICIENCY(2) 9.8MM(1) CURRENT EST. 800 10 25 WELL CAPITAL 900 MBOE 100 COST EFFICIENCY (target) 90 CAPITAL EFFICIENCY (NET BOE/1,000) (3) 9 800 8 7.7MM 20 85…
  17. EnerCom The Oil and Gas Conference 2015 – Continental Resources, Inc. – slide 17
    Cumulative boe cum boe slickwater hybrid Enhanced completions continue to deliver
  18. EnerCom The Oil and Gas Conference 2015 – Continental Resources, Inc. – slide 18
  19. EnerCom The Oil and Gas Conference 2015 – Continental Resources, Inc. – slide 19
    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 37.82 74% 40 76% 73% 74% 31.65 25.39 30 73% 18.04 69% 67% 20…
  20. EnerCom The Oil and Gas Conference 2015 – Continental Resources, Inc. – slide 20
    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…
  21. EnerCom The Oil and Gas Conference 2015 – Continental Resources, Inc. – slide 21
    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…
  22. EnerCom The Oil and Gas Conference 2015 – 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. EnerCom The Oil and Gas Conference 2015 – Continental Resources, Inc. – slide 23
    production rates ip rate daily production boe spacing laterals woodford
  24. EnerCom The Oil and Gas Conference 2015 – Continental Resources, Inc. – slide 24
  25. EnerCom The Oil and Gas Conference 2015 – Continental Resources, Inc. – slide 25
    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…
  26. EnerCom The Oil and Gas Conference 2015 – Continental Resources, Inc. – slide 26
    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…
  27. EnerCom The Oil and Gas Conference 2015 – Continental Resources, Inc. – slide 27
    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,…
  28. EnerCom The Oil and Gas Conference 2015 – Continental Resources, Inc. – slide 28
    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…
  29. EnerCom The Oil and Gas Conference 2015 – Continental Resources, Inc. – slide 29
    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…

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