Skip to main content Investor Update as of May 2016 – Continental Resources, Inc. Investor Presentation | Shale Experts
Loading...
Pm

Investor Update as of May 2016 – Continental Resources, Inc.

Continental Resources, Inc. · May 4, 2016 · 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. Investor Update as of May 2016 – Continental Resources, Inc. – slide 1
    Investor Update As of May 2016 NYSE: CLR
  2. Investor Update as of May 2016 – Continental Resources, Inc. – slide 2
    1Q 2016 Highlights Outpacing guidance Full year production guidance raised to 205,000 to 215,000 Boe per day Record 1Q 2016 production of 230,802 Boe per day (12% YoY production growth) LOE and G&A below guidance Cash costs down…
  3. Investor Update as of May 2016 – Continental Resources, Inc. – slide 3
    2016 Outlook Building on 2015 Achievements 2016 priorities Cash flow neutrality Debt reduction STACK delineation CWC reductions Operational efficiencies 2016 budget Capex of 920 million to maintain average production of…
  4. Investor Update as of May 2016 – Continental Resources, Inc. – slide 4
    0 10 20 30 40 50 60 70 80 90 SCOOP Liquids SCOOP Liquids Bakken (800 mboe EUR) Bakken (800 MBoe EUR) 1,000MBoe Midland Wolfcamp Spraberry (HZ) Wattenberg Inner / Middle STACK STACK SCOOP SpringerSpringer CLR TOPTIER…
  5. Investor Update as of May 2016 – Continental Resources, Inc. – slide 5
    TopTier Rates of Return STACK OverPressured Oil SCOOP Woodford Condensate 100% Target EUR: 1,700 MBoe 100% Target Enhanced Completion EUR: 2,000 MBoe Avg. Lateral: 9,800 Historic EUR: 1,725 MBoe 80% 80% Avg. Lateral: 7,500 60%…
  6. Investor Update as of May 2016 – Continental Resources, Inc. – slide 6
    Historical Organic Growth Targeting 205,000 to 215,000 Boe per Day Total Proved Reserves Down 9% YOY Average in 2016 with 47% Reduction in WTI Prices 250,000 1,400 230,802 SCOOP SCOOP 1,226 210,000 Bakken Bakken 1,200 200,000…
  7. Investor Update as of May 2016 – Continental Resources, Inc. – slide 7
    SCOOP & STACK Leading Acreage Positions in TopTier Plays STACK 970,000 Net Reservoir Acres STACK Meramec/Osage 171,000 Net Acres(1) STACK Woodford 155,000 Net Acres Woodford Shale SCOOP Woodford Thickness 430,000 Net…
  8. Investor Update as of May 2016 – Continental Resources, Inc. – slide 8
    STACK Exceptional, Repeatable Meramec Results New oil window completions Completed Wells Foree: IP 2,061 Boepd (69% oil), Normally Over 3,300 PSI FCP, 7,200 lateral Pressured Pressured Bernhardt: IP 1,046 Boepd (77% oil), New…
  9. Investor Update as of May 2016 – Continental Resources, Inc. – slide 9
    STACK Efficiencies Already Being Realized Oil window CWC down 5% 5 Wells Completing: Target CWC 9.5MM, down 500k Normally Over Pressured Cycle times reduced 32% Pressured SpudtoTD at 30 days, down from 44 days in 2015 Madelin…
  10. Investor Update as of May 2016 – Continental Resources, Inc. – slide 10
    STACK OverPressured Oil Economic Model STACK OverPressured Oil Type Curve STACK OverPressured Oil (9,800 Lateral) 9,800 Type Curve Data 10,000 CWC: 9.5 Million 75% ROR Based on 45 Oil IP Rate, bbl/day 1,522 WTI & 2.25 Nat Gas Oil…
  11. Investor Update as of May 2016 – Continental Resources, Inc. – slide 11
    STACK First Density Pilot Underway Ludwig Density Pilot Ludwig Density Pilot in Blaine County 1,280acre spacing unit 9,800 laterals Located in overpressured oil window 1 Mile 8 Meramec wells Upper MRMC 4 in Upper Meramec 1,320…
  12. Investor Update as of May 2016 – Continental Resources, Inc. – slide 12
    SCOOP Woodford Enhanced Completions Delivering 35% to 40% Production Uplifts 15% type curve EUR increase to 2,000 MBoe Greater than 100% ROR for incremental capital of 400,000(1) 50% more proppant per foot on average 300,000…
  13. Investor Update as of May 2016 – Continental Resources, Inc. – slide 13
    SCOOP Woodford Completion Efficiencies Realized 2X the Proppant Load for Less Cost 2,000 Proppant Load Completion Cost 1,000 900 1,600 759 1,451 800 Completion Cost per Lateral Foot (/Ft) Proppant per Lateral Foot (/ft)…
  14. Investor Update as of May 2016 – Continental Resources, Inc. – slide 14
    SCOOP Woodford 4th Condensate Density Project Completed Newy Density Project Newy 8well density project 1,280acre spacing unit 7 new wells combined peak IP rate: 87 MMcf 9,850 laterals per day, 3,928 Bo per day (21% oil) 2,639…
  15. Investor Update as of May 2016 – Continental Resources, Inc. – slide 15
    Northern Region Bakken Petroleum System Isopach CLR Leasehold 16
  16. Investor Update as of May 2016 – Continental Resources, Inc. – slide 16
    Bakken Focusing on the Core at Reduced Costs Outlines of Productive Average EUR up 13% from 2015 Bakken and Three Forks Reservoirs 2016 target average EUR: 900 MBoe per well(1) 2015 average EUR: 800 MBoe per well(1) Enhanced CWC…
  17. Investor Update as of May 2016 – Continental Resources, Inc. – slide 17
    Bakken Capital Efficiency Continues to Improve Current vs. FY 2014 Declining F&D Costs Improving Capital Efficiency(2) Est. 1,000 140 10 9.8 MM(1) 25 Capital 900 MBoe Efficiency (target) 900 800 9 120 -36% +154% MBoe…
  18. Investor Update as of May 2016 – Continental Resources, Inc. – slide 18
    CLR Bakken Differentials Decreasing Through Increased Pipeline Capacity Bakken Takeaway Capacity 3,500 Enbridge Sandpiper 3,000 Expected Online: 2019 Thousand Bopd 225,000 Bopd 2,500 2,000 1,500 1,000 500 2009 2010…
  19. Investor Update as of May 2016 – Continental Resources, Inc. – slide 19
    Low Cash Cost Competitively Positions CLR 80 72.45 72.04 70 54.74 53.52 65.99 66.53 48.59 48.86 59.35 60 Avg. Realized /Boe(3) 43.32 50 44.68 30.93 40 76% 74% 74% 31.48 30 73% 73% 19.15 69% 19.27 20 3.40 4.74…
  20. Investor Update as of May 2016 – Continental Resources, Inc. – slide 20
    Strong Liquidity & Financial Profile Unsecured Credit Facility Financial Metrics(2) Net Debt/YE 2015 Net Debt/TTM EBITDAX(3) 3.88x 5.87 Ample liquidity with 2.75 billion Proved Reserves revolver and ability to upsize to Net…
  21. Investor Update as of May 2016 – Continental Resources, Inc. – slide 21
    Industry Leading Recycle Ratio 1.2 Recycle Ratio (As of 4Q 2015) 1 0.8 0.6 0.4 0.2 0 CLR Peer A Peer B Peer C Peer D Peer E Peer F Peer G Peer H Peer I Peer J Peer K Recycle Ratio = Operating Margin (/Boe) / PDP F&D…
  22. Investor Update as of May 2016 – Continental Resources, Inc. – slide 22
    2016 Guidance Production & Capital 2016 Guidance Production (Boe per day) (revised) 205,000 215,000 Capital expenditures (nonacquisition) 920 million Operating Expenses Production expense ( per Boe) 4.25 4.75 Production tax (%…
  23. Investor Update as of May 2016 – Continental Resources, Inc. – slide 23
    2016 Capital Budget Allocation 920 Million in NonAcquisition Capex ( in Millions) 2016 Wells With First Production Other 58 Gross Net Operated Operated Total Net Leasehold 78 Rigs Wells Wells Wells(1) Bakken 4 20 15 26 NW…
  24. Investor Update as of May 2016 – Continental Resources, Inc. – slide 24
    SCOOP Woodford Density Pilots Expanding and Derisking Density testing to define optimum spacing Five in the condensate window Good Martin Unit Project of Wells Status Poteet 10 Producing May Unit Honeycutt 10 Producing Vanarkel 8…
  25. Investor Update as of May 2016 – Continental Resources, Inc. – slide 25
    SCOOP Woodford Condensate Window Density Projects Strong Repeatable Results Honeycutt Daily Production(1) CLR Well 9 New Honeycutt Wells Vanarkel Project 1,725 MBoe Type Curve 10,000 8 Well Density 660 Interwell MCFED…
  26. Investor Update as of May 2016 – Continental Resources, Inc. – slide 26
    SCOOP Woodford Sustainable Drilling Efficiencies Realized Newy Project 0 Set two company records: Poteet Average 1Q'15 2mile lateral: spudtoTD in 47.5 days (Newy 8) Honeycutt Average 2Q'15 5,000 Record MD for horizontal well in…
  27. Investor Update as of May 2016 – Continental Resources, Inc. – slide 27
    SCOOP Springer Oil Asset Waiting for Higher Prices Current 2016 plans SCOOP No drilling planned Reservoir being delineated and HBPd by Woodford drilling Deferring asset development for higher oil price Hartley Results in line…
  28. Investor Update as of May 2016 – Continental Resources, Inc. – slide 28
    Bakken Enhanced Completions Continue to Deliver Up Another 5% From 4Q 2015 Production Uplift 110,000 60% Slickwater (53 Wells) 100,000 35% 45% increase in EUR (10% higher than last quarter) 45% Hybrid (65 Wells) 90,000 (10%…
  29. Investor Update as of May 2016 – Continental Resources, Inc. – slide 29
    Continuing to Deliver Strong Margins 2009 2010 2011 2012 2013 2014 2015 1Q 2016 Realized oil price (/Bbl) 54.44 70.69 88.51 84.59 89.93 81.26 40.50 25.72 Realized natural gas price (/Mcf) 2.95 4.26 4.87 3.73 4.87 5.40 2.31 1.36…
  30. Investor Update as of May 2016 – Continental Resources, Inc. – slide 30
    EBITDAX Reconciliation to GAAP The following tables provide reconciliations of our net income (loss) and operating cash flows to EBITDAX for the periods presented: In thousands 2009 2010 2011 2012 2013 2014 2015 1Q 2016 Net income…
  31. Investor Update as of May 2016 – Continental Resources, Inc. – slide 31
    ADJUSTED Earnings Reconciliation to GAAP Our presentation of adjusted earnings and adjusted earnings per share that exclude the effect of certain items are nonGAAP financial measures. Adjusted earnings and adjusted earnings per share…

From the store

Browse maps, data & reports in the Shale Experts store