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4Q 2020 Earnings Presentation – Continental Resources, Inc.

Continental Resources, Inc. · Feb 17, 2021 · 22 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. 4Q 2020 Earnings Presentation – Continental Resources, Inc. – slide 1
    Click to edit Master title style Investor Update February 2021 NYSE: CLR PROPERTY PROPERTY OF CONTINENTAL OF CONTINENTAL RESOURCES, RESOURCES, INC. REPRODUCTION INC. REPRODUCTION AND DISTRIBUTION AND DISTRIBUTION WITH…
  2. 4Q 2020 Earnings Presentation – Continental Resources, Inc. – slide 2
    Click CLR Value to edit Commitment Master title style 1. Building Shareholder Returns Projecting 6th Consecutive Year of Positive Free Cash Flow in 2021 Sustainable Reinvestment Framework (65-75% Long Term) Return of Capital…
  3. 4Q 2020 Earnings Presentation – Continental Resources, Inc. – slide 3
    Click to 2021: edit Master Maximizing titleCash Free styleFlow For Debt Reduction 58% Cash Flow Reinvestment Rate(1) in 2021 1.4 B Non-Acquisition Capex Budget 1.0 B FCF(2) (12% FCF Yield(2)) in 2021 Budgeted at 52 WTI and 2.75…
  4. 4Q 2020 Earnings Presentation – Continental Resources, Inc. – slide 4
    Click to 2021: editCost Low Master title styleProjected to Continue Leadership Select peers include DVN, EOG, FANG, MRO, OVV, PXD and XEC. 1. Source: Capital One. 2021 estimated cash costs include LOE, gathering, G&A (whether…
  5. 4Q 2020 Earnings Presentation – Continental Resources, Inc. – slide 5
    Click 2020: to edit Master Delivered title stylePerformance Exceptional Fifth Consecutive Year of Positive FCF in 2020 Achieved 2020 CWC Targets for the Bakken & Oklahoma 1.5 B of Near Term Maturities(1) Extended to 2031 with New…
  6. 4Q 2020 Earnings Presentation – Continental Resources, Inc. – slide 6
    ClickAchieved 2020: to edit Master title style Significant & Sustainable Cost Savings Completed Well Cost (CWC) Savings 70-80% Structural Reducing Drilling Cycle Times, Stage Counts, Proppant Volumes and Stimulation Days; Optimizing…
  7. 4Q 2020 Earnings Presentation – Continental Resources, Inc. – slide 7
    Click toContinues Bakken edit Master title style to Deliver as Economic Potential Expands Continued Repeatability from Bakken Wells 4Q20 Wells Performing in Line with Prior Years Projecting Consistent Well Results in 2021 Step-Outs…
  8. 4Q 2020 Earnings Presentation – Continental Resources, Inc. – slide 8
    SpringBoard Projects in Oklahoma Click to edit Outstanding Master title Repeatable style Results from Multiple Stacked Reservoirs SpringBoard I Woodford Wells in 2020 Exceeding Type Curve SpringBoard III & IV Wells Delivering…
  9. 4Q 2020 Earnings Presentation – Continental Resources, Inc. – slide 9
    Capitalizing on Oklahoma Optionality and Constructive Gas ClickEnvironment Price to edit Master title style Commodity Optionality Strategically Shifted Rigs to Gas-Weighted Assets in Oklahoma in 2H20 Market Optionality Multiple…
  10. 4Q 2020 Earnings Presentation – Continental Resources, Inc. – slide 10
    Click to edit Expanding Masterinto Operations titlethe style Oil-Weighted Powder River Basin CLR PRB Asset Summary Strong Recent IP30 Results Parkman Net Resource Potential(1): 400 MMBoe 70-80% Oil Campbell Sussex Net Acres:…
  11. 4Q 2020 Earnings Presentation – Continental Resources, Inc. – slide 11
    ESG Stewardship Click toResponsibly edit Master title style Sustaining Americas Energy Future We believe domestic oil and natural gas exploration is fundamental to the well-being of humanity, our nation and the world. Ongoing…
  12. 4Q 2020 Earnings Presentation – Continental Resources, Inc. – slide 12
    Click to Information Contact edit Master title style Rory Sabino Vice President, Investor Relations Phone: 405-234-9620 Email: Rory.SabinoCLR.com Lucy Spaay Investor Relations Analyst Phone: 405-774-5878 Email: Lucy.SpaayCLR.com…
  13. 4Q 2020 Earnings Presentation – Continental Resources, Inc. – slide 13
    Click to edit Master title style REFERENCE MATERIALS PROPERTY OF CONTINENTAL RESOURCES, INC. REPRODUCTION AND DISTRIBUTION WITH WRITTEN PERMISSION ONLY 14
  14. 4Q 2020 Earnings Presentation – Continental Resources, Inc. – slide 14
    Click to edit Significant Master Return title style of Capital through Debt Reduction 1.5 B of Near Term Maturities(1) Extended to 2031 with New Bond Offering 470 MM Partial Tender of 2022s 800 MM Partial Tender of 2023s 180 MM…
  15. 4Q 2020 Earnings Presentation – Continental Resources, Inc. – slide 15
    Click to 2021 Guidance edit Master & Operating title style Detail Production & Capital 2021 Guidance Capital Expenditures Budget ( in Millions) Capital expenditures budget 1.4 billion North D&C 732 Oil production (Bo per day)…
  16. 4Q 2020 Earnings Presentation – Continental Resources, Inc. – slide 16
    ClickCash Free to edit FlowMaster title Cash and Free style Flow Yield Our presentation of free cash flow and free cash flow yield are non-GAAP measures. We define free cash flow as cash flows from operations before changes in working…
  17. 4Q 2020 Earnings Presentation – Continental Resources, Inc. – slide 17
    Click Net to edit Debt Master titleTostyle Reconciliation 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…
  18. 4Q 2020 Earnings Presentation – Continental Resources, Inc. – slide 18
    Click to edit EBITDAX Master titleTostyle Reconciliation 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…
  19. 4Q 2020 Earnings Presentation – Continental Resources, Inc. – slide 19
    Click to edit EBITDAX Master titleTostyle Reconciliation GAAP The following tables provide reconciliations of our net income (loss) and net cash provided by operating activities to EBITDAX for the periods presented: Three months ended…
  20. 4Q 2020 Earnings Presentation – Continental Resources, Inc. – slide 20
    Click to editEarnings ADJUSTED Master Reconciliation title style 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…
  21. 4Q 2020 Earnings Presentation – Continental Resources, Inc. – slide 21
    Click Net to edit Sales Master Prices title style To GAAP Reconciliation Revenues and transportation expenses associated with production from our operated properties are reported separately. For non-operated properties, we receive a…
  22. 4Q 2020 Earnings Presentation – Continental Resources, Inc. – slide 22
    Click G&A Cash to edit Master title To Reconciliation style 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…

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