Continental Resources Focused on Disciplined, Oil-Weighted Growth and Building Shareholder Value Value Drivers 3Q19 Results: Driven by Assets & Execution Cash Flow Positive Growth and Strong Returns 158MM Net Income in 3Q19 582MM Net…
CLR: Delivering Competitive Returns & Driving Down Debt 2019 Maintenance Capital Implied FCF Yields(1) CLR ROCE(2): 9-12% at 55 WTI in 2019 (Source: Jefferies) 66 5% EOG CXO CLR 16% PXD 14% FANG WLL WPX 55 (Est) 12% Implied FCF…
CLR Bakken: Exceptional Assets And Execution Delivering Consistent, Industry-Leading Results Since Moving into Multi-Zone Unit Development CLR Developed Bakken Units 2017- 2019 YTD 440 Gross Operated Unit Wells Completed (2017-2019…
Bakken Manufacturing Mode Continues to Build Operational Efficiencies Operational Efficiencies (2017-2019 YTD) Completed Lat. Feet per Day 1,686' 1,600 1,417' 500K Well Cost Reduction 1,200 1,090' 55% Increase Completed Lateral…
CLR South: Oil Production Up 62% Year-Over-Year Oklahoma SCOOP and STACK Assets Oklahoma Continue to Deliver Outstanding Results Over-Pressured Normal-Pressured Driven by Geologically Superior Oil-Rich 3Q19 Units: Acreage…
SCOOP SpringBoard Hits 23,641 Net Bopd in 3Q19 31% Above Target Springer Rows 1, 2 & 3 Perform as Expected 4Q19 Oil Target Raised to 24,000 Net Bopd 10,000 SpringBoard Range of Well Outcomes 24,000 1.3 MMBoe Springer Type Curve…
STACK: Continued Outstanding Results 57,292 Boepd (67% Oil; 38,320 Bopd) From 2 New Units Reba Jo & Schulte Units Oil Unit Wells Outperforming Unit Type Curve 140 14 Total Wells: Over-Pressured Oil Window Avg. Cumulative MBoe…
CLR Continues To Be The Low Cost Leader Amongst Oil-Weighted Peers Low Cost Per Boe(1) Top-Tier G&A(2) Source: Public Company Filings Source: Tudor, Pickering & Holt 9.00 APA 22% DVN 20% 8.00 18% PXD WLL NBL OAS 16% 1H19…
CLR Delivers on Guidance Unique Insider Ownership Ensures Shareholder Alignment (1) Annual Guidance vs. Actual CLR Insider Ownership vs. the Market(2) (Source: Bloomberg) Production Boepd 80% 77.8% 400,000 350,000 300,000 70%…
Reference Materials PROPERTY OF CONTINENTAL RESOURCES, INC. REPRODUCTION AND DISTRIBUTION WITH WRITTEN PERMISSION ONLY 13
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…
Free Cash Flow Drives Total Shareholder Return Strategy Committed to Maximizing Shareholder Value 5B Initiating Quarterly Dividend in 4Q19(2) 1B Share-Repurchase Program 5-Year Vision Cumulative FCF (60 WTI) 5B Cumulative Debt…
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…
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…
2019 Guidance Production & Capital 2019 Guidance Capital expenditures budget 2.6 billion Oil Production (Bo per day) 195,000 - 200,000 Natural Gas Production (Mcf per day) 820,000 - 840,000 Operating Expenses Production…
Continued Focus On Net Debt Reduction Completed 500MM Partial Call of 1.6B 2,000 Debt Maturities Summary 5% Senior Notes due 2022 on Sept. 12, 2019 (MM) 4.5% 1,500 5.0% 3.8% 4.375% Financial Metrics 1,000 1,200 Undrawn 1,500…
Continuing To Deliver Strong Margins(1) 2015 2016 2017 2018 3Q 2019 Crude oil net sales price (/Bbl)(2) 40.50 35.51 45.70 59.19 51.28 Natural gas net sales price (/Mcf)(2) 2.31 1.87 2.93 3.01 1.12 Oil production (Bopd) 146,622…
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…
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,…
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,…
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 3Q 2019 TTM Net…
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…
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…
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…
Calculation Of Return On Capital Employed (ROCE) The following table shows the calculation of ROCE for the following periods. In thousands 2015 2016 2017 2018 Net income (loss) attributable to Continental Resources (353,668) (399,679)…
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