Skip to main content 2Q 2019 Investor Update – Continental Resources, Inc. Investor Presentation | Shale Experts
Loading...
Pm

2Q 2019 Investor Update – Continental Resources, Inc.

Continental Resources, Inc. · Aug 5, 2019 · 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. 2Q 2019 Investor Update – Continental Resources, Inc. – slide 1
    Investor Update August 2019
  2. 2Q 2019 Investor Update – Continental Resources, Inc. – slide 2
    CLR: Increasing Shareholder Returns Through Share Repurchases & Dividend VALUE GENERATORS Ongoing/Historical Added Organic Growth through Exploration 1 Billion Share Repurchase Program Leading Position in 3 Top U.S. Oil Plays 92…
  3. 2Q 2019 Investor Update – Continental Resources, Inc. – slide 3
    CLRs Five Year Vision Sustainable Cash Flow Positive Production Growth CLR Five Year Vision (2019-2023) 5 Billion Free Cash Flow(1) 12.5% Production CAGR 14.5% Average Annual ROCE Utilizes Less Than 30% of Current Inventory 5…
  4. 2Q 2019 Investor Update – Continental Resources, Inc. – slide 4
    Free Cash Flow Drives Total Shareholder Return Strategy Committed to Maximizing Shareholder Value 5B Initiating Quarterly Dividend in 4Q19 1B Share-Repurchase Program 5-Year Vision Cumulative FCF (60 WTI) 5B Cumulative Debt…
  5. 2Q 2019 Investor Update – Continental Resources, Inc. – slide 5
    Driving Down Debt / Delivering Competitive Returns CLR Net Debt Continues to Decline CLR 2018 Corporate Returns vs. the Market(2) 3.6x 3.5x 16% (Source: Bloomberg) 3.5x 7.1B 15% 6.6B 3.0x 13% 12% 2.7x 12% Net Debt/TTM…
  6. 2Q 2019 Investor Update – Continental Resources, Inc. – slide 6
    CLR Continues To Be A Low Cost Leader Among Peers Low Cost per Boe(1) Top-Tier G&A(2) 2019 Maintenance Source: Public Company Filings Source: Tudor, Pickering & Holt Capital Implied FCF Yields(3) 9.00 ECA Source: Jefferies 5% DVN…
  7. 2Q 2019 Investor Update – Continental Resources, Inc. – slide 7
    CLRs Minerals Strategy Enhances Returns to Shareholders Strategic Advantages Synchronizing with CLRs Drill Plans Increases Pace of Minerals Development Leading Operator Capitalizes on CLRs Operational Leadership Typical Minerals…
  8. 2Q 2019 Investor Update – Continental Resources, Inc. – slide 8
    CLR 2Q19 Results Raising Production Guidance; Lowering Costs 2Q19 Earnings & Recent Transactions Updates to 2019 Guidance Net Income 237MM Metric Previous Update Oil Production 23% Oil Growth YoY (193,586 Bopd) Oil Production…
  9. 2Q 2019 Investor Update – Continental Resources, Inc. – slide 9
    CLRs Bakken Well Performance Increasing Year-Over-Year First Year Average Cumulative Production Avg. First Year Cumulative Oil Production per Well (Bbl) 200,000 Improvements Driven By: Increased Stimulated Rock Volume Enhanced…
  10. 2Q 2019 Investor Update – Continental Resources, Inc. – slide 10
    Bakken: Step-Outs Continue To Meet Expectations Significantly Outperform Legacy Offsets MT: Baird Federal 2-34H 1,680 Boepd 24-Hour IP Outperforming Legacy Well by 100% at 120 Days ND: McClintock 8-1H1(1) 2,440 Boepd 24-Hour…
  11. 2Q 2019 Investor Update – Continental Resources, Inc. – slide 11
    Long Creek Bakken Unit Another High Impact Oil Project For CLR Estimated Peak Production of up to 20,000 Net Bopd First production expected 3Q20 Long Creek Bakken Unit Peak production expected 2H21 10 Square Miles of Contiguous…
  12. 2Q 2019 Investor Update – Continental Resources, Inc. – slide 12
    SCOOP: Project Springboard Oil Growth Exceeding Expectations On Track for 18,000 Net Bopd Avg. in 3Q19 22,000 SpringBoard Oil Growth Target July 2019 Oil Production: 19,000 Net Bopd 20,000 Post 3Q18(1) SpringBoard Oil…
  13. 2Q 2019 Investor Update – Continental Resources, Inc. – slide 13
    SpringBoard Operations Maximizing Value Decreasing Costs, Growing Infrastructure And Market Advantages Drilling and Completion Efficiencies Woodford CWC (/Lateral Foot) 1,400 1,273 22% reduction in SpringBoard Woodford CWC…
  14. 2Q 2019 Investor Update – Continental Resources, Inc. – slide 14
    STACK Unit Development Delivering Outstanding Repeatable Results Average Condensate Unit Wells Average Oil Unit Wells 400 Outperforming Parent Type Curve Outperforming Unit Type Curve 300 By 40% at 120 Days by 32% at 120 Days…
  15. 2Q 2019 Investor Update – Continental Resources, Inc. – slide 15
    STACK: Location Matters Well Performance Reinforces Quality Of CLRs Leasehold CLR Operates over 40% of STACK Meramec Horizontal Wells with Average 30-Day Rate 1,500 Boepd (2015 - Present) IP-30 Wells Delivering 1,500 Boepd…
  16. 2Q 2019 Investor Update – Continental Resources, Inc. – slide 16
    CLR Delivers on Guidance Unique Insider Ownership Ensures Shareholder Alignment (1) Annual Guidance vs. Actual CLR Insider Ownership vs. the Market(2) (Source: Bloomberg) Boepd Production 300,000 80% 77.3% 250,000 200,000 70%…
  17. 2Q 2019 Investor Update – Continental Resources, Inc. – slide 17
    Contact Information Rory Sabino Vice President, Investor Relations Phone: 405-234-9620 Email: Rory.SabinoCLR.com Lucy Guttenberger Investor Relations Analyst Phone: 405-774-5878 Email: Lucy.GuttenbergerCLR.com Website:…
  18. 2Q 2019 Investor Update – Continental Resources, Inc. – slide 18
    Reference Materials PROPERTY OF CONTINENTAL RESOURCES, INC. REPRODUCTION AND DISTRIBUTION WITH WRITTEN PERMISSION ONLY 19
  19. 2Q 2019 Investor Update – Continental Resources, Inc. – slide 19
    CLRs 2019 Plan: Sustained Returns, FCF, Low-Cost Oil-Weighted Growth 2019: Delivering Capital-Efficient Growth, Strong FCF(1) & Returns 16% to 19% YoY oil production growth Cash Flow Positive Above 45 WTI 195,000 to 200,000 Bopd…
  20. 2Q 2019 Investor Update – Continental Resources, Inc. – slide 20
    Updated 2019 Guidance Production & Capital Previous 2019 Guidance Updated 2019 Guidance Capital expenditures budget 2.6 billion 2.6 billion Production (Boe per day) Oil Production (Bo per day) 190,000 - 200,000 195,000 -…
  21. 2Q 2019 Investor Update – Continental Resources, Inc. – slide 21
    Continued Focus On Net Debt Reduction 2,000 Debt Maturities Summary Financial Metrics 5.0% 4.5% (MM) (1) 1.62x: Net debt / 2Q19 Annualized EBITDAX (1) 1,500 3.8% 4.375% 1.56x: Net debt(1) / TTM EBITDAX(1) 1,000 1,600…
  22. 2Q 2019 Investor Update – Continental Resources, Inc. – slide 22
    Continuing To Deliver Strong Margins(1) 2015 2016 2017 2018 2Q 2019 Crude oil net sales price (/Bbl)(2) 40.50 35.51 45.70 59.19 54.66 Natural gas net sales price (/Mcf)(2) 2.31 1.87 2.93 3.01 1.66 Oil production (Bopd) 146,622…
  23. 2Q 2019 Investor Update – Continental Resources, Inc. – slide 23
    Free Cash Flow Our presentation of free cash flow is a non-GAAP measure. We define free cash flow as cash flows from operations before changes in working capital items, less capital expenditures, excluding acquisitions, plus…
  24. 2Q 2019 Investor Update – Continental Resources, Inc. – slide 24
    Net Debt Reconciliation To GAAP Net debt is a non-GAAP measure. We define net debt as total debt less cash and cash equivalents as determined under U.S. GAAP. Net debt should not be considered an alternative to, or more meaningful than,…
  25. 2Q 2019 Investor Update – Continental Resources, Inc. – slide 25
    EBITDAX Reconciliation To GAAP We use a variety of financial and operational measures to assess our performance. Among these measures is EBITDAX, a non-GAAP measure. We define EBITDAX as earnings before interest expense, income taxes,…
  26. 2Q 2019 Investor Update – Continental Resources, Inc. – slide 26
    EBITDAX Reconciliation To GAAP The following tables provide reconciliations of our net income (loss) and net cash provided by operating activities to EBITDAX for the periods presented: In thousands 2015 2016 2017 2018 2Q 2019 TTM Net…
  27. 2Q 2019 Investor Update – Continental Resources, Inc. – slide 27
    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 share…
  28. 2Q 2019 Investor Update – Continental Resources, Inc. – slide 28
    Net Sales Prices Reconciliation To GAAP Revenues and transportation expenses associated with production from our operated properties are reported separately. For non-operated properties, we receive a net payment from the operator for our…
  29. 2Q 2019 Investor Update – Continental Resources, Inc. – slide 29
    Cash G&A Reconciliation To GAAP Our presentation of cash general and administrative (G&A) expenses per Boe is a non-GAAP measure. We define cash G&A per Boe as total G&A determined in accordance with U.S. GAAP less non-cash equity…

From the store

Browse maps, data & reports in the Shale Experts store