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2Q 2021 Earnings Presentation – Continental Resources, Inc.

Continental Resources, Inc. · Aug 4, 2021 · 23 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 2021 Earnings Presentation – Continental Resources, Inc. – slide 1
    Click to edit Master title style Investor Update August 2021 NYSE: CLR PROPERTY PROPERTY OF CONTINENTAL OF CONTINENTAL RESOURCES, RESOURCES, INC. REPRODUCTION INC. REPRODUCTION AND DISTRIBUTION AND DISTRIBUTION WITH…
  2. 2Q 2021 Earnings Presentation – Continental Resources, Inc. – slide 2
    CLR: Robust Cash Flow & Exceptional Shareholder Value Click to edit Master title style Driven by Outstanding 2Q21 & Projected 2021 Results 2.4 B Projected 2021 FCF(1) at Current Strip Prices(2) 19% FCF Yield(1) 18% Projected ROCE(3)…
  3. 2Q 2021 Earnings Presentation – Continental Resources, Inc. – slide 3
    CLRs Competitive Advantage in 2021 Click to edit Master title style Projecting Above Consensus(1) 2021 Cash Flow from Unhedged Oil Upside Potential Above Consensus(1) Projected Cash Flow in 2021 Projecting 3.8 B of 2021 Operating…
  4. 2Q 2021 Earnings Presentation – Continental Resources, Inc. – slide 4
    Click to edit Master title style Double Digit FCF Yield(1) Underscores CLRs Strong Value vs. Broader Market 1. FCF yield is a non-GAAP measure. With respect to the projected amount, please see slide 18 for an explanation of the…
  5. 2Q 2021 Earnings Presentation – Continental Resources, Inc. – slide 5
    Multiple Vehicles for Shareholder Capital Returns Click to edit Master title style Debt Reduction + Increased Quarterly Dividend + Share Repurchase Program Expedited Net Debt(1) Reduction 0.15 per Share Quarterly Dividend Targeting…
  6. 2Q 2021 Earnings Presentation – Continental Resources, Inc. – slide 6
    CLRs Outstanding 2Q21 Results Click to edit Master title style Better than Consensus Estimate(1) Adjusted EPS(2) Driven by Strong Asset Performance 2Q21 Metric Results FY 2021 Guidance/Projection Adjusted EPS(2) 0.91 65% Above…
  7. 2Q 2021 Earnings Presentation – Continental Resources, Inc. – slide 7
    Click toConsistent Bakken: edit Master title&style Results Sustainable Performance 70 Gross Operated Bakken Wells on Line in 2Q21 CLR 1H21 Bakken Wells 2021 Wells Performing in Line with Prior 4 Year Programs Long Creek Unit Wells…
  8. 2Q 2021 Earnings Presentation – Continental Resources, Inc. – slide 8
    Bakken: Initial Long Creek Unit Wells Coming on Strong Click to edit Master title style Well Costs Running Below Original Estimates 11 Long Creek Wells on Line in 2Q21 2,073 Boepd Average 24-Hour IP (80% Oil) Outperforming Historical…
  9. 2Q 2021 Earnings Presentation – Continental Resources, Inc. – slide 9
    Click to edit Oklahoma: Master Results Outstanding title style with Commodity Optionality SpringBoard 1, 2, 3 & 4: All on Track SpringBoard 1 & 2 Strong, Consistent Well Performance Up to 600 Gross Operated Locations Remaining Up…
  10. 2Q 2021 Earnings Presentation – Continental Resources, Inc. – slide 10
    ClickCosts Lower to edit areMaster titleCapital Improving style Efficiency Across Assets Bakken Oklahoma Condensate 1. 10,000 Average Bakken lateral length. 2. 10,000 Average Oklahoma Lateral Length in 2021; 7,700 in 2020;…
  11. 2Q 2021 Earnings Presentation – Continental Resources, Inc. – slide 11
    ESG Stewardship Click to edit Master title style Responsibly Sustaining Americas Energy Future We Believe Domestic Oil & Natural Gas Exploration is Fundamental to the Well-Being of Humanity, our Nation & the World. Supplying Clean…
  12. 2Q 2021 Earnings Presentation – Continental Resources, Inc. – slide 12
    Continental Resources Click to edit Master title style Commitment to Generating Exceptional Shareholder Value Building Shareholder Operational Excellence Shareholder Returns & Resource Potential Alignment Generating Significant FCF…
  13. 2Q 2021 Earnings Presentation – Continental Resources, Inc. – slide 13
    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…
  14. 2Q 2021 Earnings Presentation – Continental Resources, Inc. – slide 14
    Click to edit Master title style REFERENCE MATERIALS PROPERTY OF CONTINENTAL RESOURCES, INC. REPRODUCTION AND DISTRIBUTION WITH WRITTEN PERMISSION ONLY 15
  15. 2Q 2021 Earnings Presentation – Continental Resources, Inc. – slide 15
    Click to 2021 Guidance edit Master & Operating title style Detail Production & Capital Previous Updated Capital Expenditures Budget ( in Millions) Capital expenditures budget 1.4 billion 1.4 billion North D&C 732 Oil production…
  16. 2Q 2021 Earnings Presentation – Continental Resources, Inc. – slide 16
    Click to edit Net Accelerating Master Debttitle style Reduction Net Debt(1) Reduced to 4.59 Billion as of 6/30/21 Targeting Net Debt (1) to EBITDAX(2) Ratio Below 1x 3.7 B Projected YE21 Net Debt (1) 800 MM Improvement to Original…
  17. 2Q 2021 Earnings Presentation – Continental Resources, Inc. – slide 17
    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…
  18. 2Q 2021 Earnings Presentation – Continental Resources, Inc. – slide 18
    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…
  19. 2Q 2021 Earnings Presentation – Continental Resources, Inc. – slide 19
    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…
  20. 2Q 2021 Earnings Presentation – Continental Resources, Inc. – slide 20
    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…
  21. 2Q 2021 Earnings Presentation – Continental Resources, Inc. – slide 21
    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…
  22. 2Q 2021 Earnings Presentation – Continental Resources, Inc. – slide 22
    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…
  23. 2Q 2021 Earnings Presentation – Continental Resources, Inc. – slide 23
    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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