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CLR Implemantation:The SCOOP – Continental Resources, Inc.

Continental Resources, Inc. · Sep 13, 2012 · 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. CLR Implemantation:The SCOOP – Continental Resources, Inc. – slide 1
    JWH 9/13/12 Anadarko Woodford: The SCOOP
  2. CLR Implemantation:The SCOOP – Continental Resources, Inc. – slide 2
    A New, High-Impact Resource Play Has Emerged Oil and liquids-rich province One of the thickest, best quality resource shale reservoirs in the country 1.8 BBoe net reserve potential to CLR* 2,200 net locations* 25-50% oil, 60-75%…
  3. CLR Implemantation:The SCOOP – Continental Resources, Inc. – slide 3
    Whats the SCOOP South Central Oklahoma Oil Province Epicenter of Oklahoma Oil Golden Trend (1945) 590 MMBo 3 of the top oil-producing counties in Oklahoma 3.2 BBo produced Knox 97 MMBo 60 reservoirs Sho-Vel-Tum (1905) Healdton (1913)…
  4. CLR Implemantation:The SCOOP – Continental Resources, Inc. – slide 4
    Heres the SCOOP World-Class Resource Shale Up to 400 oil-rich shale Oklahoma Dual reservoir target Texas Excellent siliceous reservoir Cana Field Highly fractured Source of the oil SCOOP The Woodford Shale 25…
  5. CLR Implemantation:The SCOOP – Continental Resources, Inc. – slide 5
    SCOOP is Premium Woodford Cana Field SCOOP Upper Woodford Lower Woodford 6X the reservoir volume of Cana Field Clay-rich Woodford Oil-prone and liquid-rich Silica-rich Woodford Stratigraphic cross-section datum top…
  6. CLR Implemantation:The SCOOP – Continental Resources, Inc. – slide 6
    What Makes the SCOOP Woodford So Good Devonian Age: Bakken Ideal time for deposition of world-class source rocks Marcellus Bakken, Woodford and Marcellus are equivalent Woodford After Blakey, 2011 North America 360 million…
  7. CLR Implemantation:The SCOOP – Continental Resources, Inc. – slide 7
    Comparison of Resource Play Attributes SCOOP/Woodford Bakken /Three Forks Eagle Ford Age Devonian Devonian Cretaceous Fairway size (sq. mi.) 3,300 13,000 5,000 Depth 8,000-16,000 8,000-11,500 7,000-12,000 Thickness 150- 400 10-250…
  8. CLR Implemantation:The SCOOP – Continental Resources, Inc. – slide 8
    How SCOOP Was Formed-Stage 1 Devonian Age(360 MYA) Organic rich shale deposited in ancient seaway Low oxygen environment Deposition and preservation of oil-prone organic matter After Blakey, 2011 Woodford 8
  9. CLR Implemantation:The SCOOP – Continental Resources, Inc. – slide 9
    How SCOOP Was Formed-Stage 2 Early Pennsylvanian (315 MYA) Plate collision Mountain building Anadarko Basin formed Reservoir sands deposited above WDFD After Blakey, 2011 Penn Sands Woodford 9
  10. CLR Implemantation:The SCOOP – Continental Resources, Inc. – slide 10
    How SCOOP Was Formed-Stage 3 Late Pennsylvanian (300 MYA) Peak mountain building & deformation Rapid subsidence and sedimentation Major sandstone reservoirs deposited above Woodford After Blakey, 2011 Penn Sands Woodford…
  11. CLR Implemantation:The SCOOP – Continental Resources, Inc. – slide 11
    How SCOOP Was Formed-Stage 4 Early Permian (285 MYA) Oil generated from organic material in Woodford Woodford oil migrates into overlying conventional reservoirs After Blakey, 2011 Penn Sands Woodford 11
  12. CLR Implemantation:The SCOOP – Continental Resources, Inc. – slide 12
    SCOOP: Why Stealth Weve Been Leasing 94,000 acres at YE 2010 (3% HBP) 170,600 acres today (23% HBP) +80% last 18 months 12 Miles 12
  13. CLR Implemantation:The SCOOP – Continental Resources, Inc. – slide 13
    Weve Been Drilling Too 2012 Results: Oil fairway Simms 1-32H: 702 Boepd (80% liquid) Healey 1-12H: 670 Boepd (86% liquid) Mills 1-21H: 626 Boepd (81% liquid) Condensate fairway Carson 1-2H: 1,524 Boepd (57% liquid) Dawkins 1-20H:…
  14. CLR Implemantation:The SCOOP – Continental Resources, Inc. – slide 14
    Oil and Condensate Fairway Producers Mills 1-21H (Oil Fairway) Lyle 1-30H (Condensate Fairway) EUR: 785 MBoe (75% liquids) EUR: 2390 MBoe (51% liquids) 10000 10000 1000 1000 MCFD, BOPD MCFD, BOPD 100 100 10 10 May-12…
  15. CLR Implemantation:The SCOOP – Continental Resources, Inc. – slide 15
    SCOOP Type Curves Oil Fairway Type Curve Condensate Fairway Type Curve EUR: 626 MBoe (75% liquids) EUR: 1190 MBoe (61% liquids) 10000 10000 1000 BOPD, MCFD 1000 BOPD, MCFD 100 100 10 10 0 6 12 18 24 30 36 42 48…
  16. CLR Implemantation:The SCOOP – Continental Resources, Inc. – slide 16
    SCOOP Economic Performance Condensate Fairway ROR% IRR* vs Gas Price 100 Completed Well Costs 90 Oil Oil 9.0 MM Gas 24% 80 Oil 8.5 MM 39% Condensate 9.5 MM 70 Condensate 9.0 MM NGL 60 37% 50 40 Oil Fairway 30 20 Gas 10…
  17. CLR Implemantation:The SCOOP – Continental Resources, Inc. – slide 17
    SCOOP Efficiency Gains Accelerated Through technology transfer Spud to TD Days 80 Efficiency factors 60 72 38% decrease 7 years experience 56 40 45 BHA optimization 20 Bit selection 0 Hydraulics 2011 1H 2012 YE2012 Improved…
  18. CLR Implemantation:The SCOOP – Continental Resources, Inc. – slide 18
    Rapid Gains Through Technology Transfer First cross-unit (extended lateral) well in OK (HB 1909) Planning to drill Cross-Unit wells in 2013. Cross-Unit Drilling Toms 1-21XH vs Petty 1-17H Toms Toms 1-21 1-21 XH XH vs vs Petty…
  19. CLR Implemantation:The SCOOP – Continental Resources, Inc. – slide 19
    SCOOP Completions Costs Decreasing (000s) Cost per Stage Reduction in pumping service 500 costs 428 31% decrease Reduced job time 400 Lower horsepower/costs due to target zone navigation 300 296 Service company price…
  20. CLR Implemantation:The SCOOP – Continental Resources, Inc. – slide 20
    SCOOP Production growth driven by increased drilling and optimized completions SCOOP Production Growth Boepd Optimizing frac stages 8,000 7,000 Proppant (size/volumes/type) 6,000 Fluid (type/volume) 5,000 Perforation…
  21. CLR Implemantation:The SCOOP – Continental Resources, Inc. – slide 21
    SCOOP: Doubling Down SCOOP Type Log Stacked laterals Woodford thickness typically 200-300 Frac height is 70-100 (internal studies) Upper 125 Requires 2 wells to stimulate Woodford Both targets proven commercial Lower Testing…
  22. CLR Implemantation:The SCOOP – Continental Resources, Inc. – slide 22
    Testing the Dual Reservoir Concept 500 ft between well bores Cana-Woodford Infill well density 9 wells/section (65 acre spacing) One horizon SCOOP down spacing potential 9 wells per horizon (65 acre spacing) Up to18 wells/section…
  23. CLR Implemantation:The SCOOP – Continental Resources, Inc. – slide 23
    SCOOP Summary High impact oil-rich resource shale play Superior reservoir with dual-lateral potential Proven, repeatable high ROR Commanding acreage position 12 Miles 23
  24. CLR Implemantation:The SCOOP – Continental Resources, Inc. – slide 24
    SCOOP: 1.8 BBoe Woodford Resource Potential Unbooked Unrisked Potential Net Wells Net Unbooked Resource Potential (Net Wells) (MMBoe) 2,500 2,000 1,800 2242 1,800 2,000 1,600 1,400 1,500 1,200 1114 1,000 SCOOP 839 SCOOP 1,000…
  25. CLR Implemantation:The SCOOP – Continental Resources, Inc. – slide 25
    SCOOP: But Wait, Theres More Scoop Area Numerous conventional reservoirs Pennsylvanian Multiple opportunities identified Can be assessed while drilling Woodford Additional oil resource plays also identified…
  26. CLR Implemantation:The SCOOP – Continental Resources, Inc. – slide 26
    JWH 9/13/12 Oil & Gas Marketing
  27. CLR Implemantation:The SCOOP – Continental Resources, Inc. – slide 27
    Oklahoma Infrastructure Enogex Gathering & Processing 2012 Accomplishments: 15,400 horsepower compression 82 miles mainline piping 40 miles wellhead gathering 19 new wells connected Dry Gas Fairway Wet Gas Fairway Oil…
  28. CLR Implemantation:The SCOOP – Continental Resources, Inc. – slide 28
    Anadarko Gas Processing Running at Full Rates, With Minimal Constraints Risks Thru 2017 Anadarko Production and Processing Capacity* 10 Anadarko OK & TX Proc Capacity 9 8 7 Bcf/d 6 5 4 3 2 1 0 *Bentek…
  29. CLR Implemantation:The SCOOP – Continental Resources, Inc. – slide 29
    Value of Recent SE Cana Contract 12 NYMEX PRICE NPV10 value of most 10 Gas With NGL Value recent SE Cana Wellhead /Mcf & Nymex /MMBtu contract is 4.8 B 8 NGL value over NYMEX is 1.00 6 initially nearly 4 triples over contract…

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