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1Q 2020 Earnings Presentation – Continental Resources, Inc.

Continental Resources, Inc. · May 11, 2020 · 15 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. 1Q 2020 Earnings Presentation – Continental Resources, Inc. – slide 1
    Investor Update May 2020
  2. 1Q 2020 Earnings Presentation – Continental Resources, Inc. – slide 2
    Continental Resources, Inc. Preserving Value Over Volumes 2020 Preserving CLR Value Proactive Action Taken Proactive Decision Not to Overproduce into Oversupplied Market; February Flat Capital Spend YoY March 55% Budget Reduction…
  3. 1Q 2020 Earnings Presentation – Continental Resources, Inc. – slide 3
    CLR: Lowest Cost Operations Amongst Oil-Weighted Peers Select peers include APA, CXO, DVN, EOG, FANG, HES, MRO, OAS, PXD, WPX. 1. Source: BMO Capital. 2019 drill bit F&D costs include development and exploration capital and proved…
  4. 1Q 2020 Earnings Presentation – Continental Resources, Inc. – slide 4
    CLR Bakken: Delivering Consistency & Capital Efficiency 1Q20 Results 201,502 Avg. Boepd; up 1% YoY 47 Gross Op Wells Completed Avg. Well Performance Forecast in Line with 2017-19 Programs Operating 2 Rigs through 2020…
  5. 1Q 2020 Earnings Presentation – Continental Resources, Inc. – slide 5
    CLR South: Flexible & Efficient Operations Deliver Results 1Q20 Results 152,010 Avg Boepd; up 22% YoY 31 Gross Op Wells Completed Currently Operating 3 Rigs Targeting 2 Rigs by Year End 2020 Flexible & Efficient South…
  6. 1Q 2020 Earnings Presentation – Continental Resources, Inc. – slide 6
    CLR: Preserving Value Through Flexibility & Optionality 70% Operated Oil Production Voluntarily CLRs Value Proposition Defined By Curtailed in May At Least Over 75% of (60% Boepd) 55% Capex Leasehold Reduction vs. Disciplined…
  7. 1Q 2020 Earnings Presentation – Continental Resources, Inc. – slide 7
    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:…
  8. 1Q 2020 Earnings Presentation – Continental Resources, Inc. – slide 8
    Reference Materials PROPERTY OF CONTINENTAL RESOURCES, INC. REPRODUCTION AND DISTRIBUTION WITH WRITTEN PERMISSION ONLY 9
  9. 1Q 2020 Earnings Presentation – Continental Resources, Inc. – slide 9
    Continuing To Deliver Strong Margins(1) 2016 2017 2018 2019 1Q 2020 Crude oil net sales price (/Bbl)(2) 35.51 45.70 59.19 51.82 39.64 Natural gas net sales price (/Mcf)(2) 1.87 2.93 3.01 1.77 0.90 Oil production (Bopd) 128,005…
  10. 1Q 2020 Earnings Presentation – Continental Resources, Inc. – slide 10
    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,…
  11. 1Q 2020 Earnings Presentation – Continental Resources, Inc. – slide 11
    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,…
  12. 1Q 2020 Earnings Presentation – Continental Resources, Inc. – slide 12
    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 2016 2017 2018 2019 1Q 2020 TTM Net…
  13. 1Q 2020 Earnings Presentation – Continental Resources, Inc. – slide 13
    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…
  14. 1Q 2020 Earnings Presentation – Continental Resources, Inc. – slide 14
    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…
  15. 1Q 2020 Earnings Presentation – Continental Resources, Inc. – slide 15
    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…

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