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Investor Update – Continental Resources, Inc.

Continental Resources, Inc. · Dec 31, 2014 · 26 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. Investor Update – Continental Resources, Inc. – slide 1
    Investor Update December 2014
  2. Investor Update – Continental Resources, Inc. – slide 2
    CLR Value Drivers Multi-decade inventory of high rate of return drilling locations in Bakken and SCOOP Largest acreage holder and producer in the Bakken Recently announced new discovery Springer oil play in Oklahoma 1.2 billion Boe…
  3. Investor Update – Continental Resources, Inc. – slide 3
    Two World Class Platforms for Growth: Bakken and SCOOP NYSE listed: CLR Enterprise Value: 21B Market Cap: 15B Total Debt: 6B Focused in two premier basins with decades of organic growth Largest leaseholder, driller and producer in…
  4. Investor Update – Continental Resources, Inc. – slide 4
    3Q14 Operational & Financial Highlights Production (Boe per day) 3Q14 production: 182,335 Boe per day, up 29% 200,000 over 3Q13 and 9% sequentially 182,335 Bakken: 121,604 Boe per day, up 29% over 3Q13 150,000 135,919 SCOOP:…
  5. Investor Update – Continental Resources, Inc. – slide 5
    Bakken Continues to Deliver and Improve CLR Net Bakken Production of 121,604 Boe Production Profile for 2015 Bakken per day (3Q 2014) Drilling Program Up 12% over 2Q14 1000 Up 29% over 3Q13 800 BOE/day 600 2015 CLR Bakken…
  6. Investor Update – Continental Resources, Inc. – slide 6
    Bakken Value Increasing Through Enhanced Completions Increasing EURs with new completion designs CANADA Tested and confirmed in Williams MT ND and Northern McKenzie Counties Over 45% average 90-day production uplift 30% increase in…
  7. Investor Update – Continental Resources, Inc. – slide 7
    SCOOP: South Central Oklahoma Oil Province 3.6 Billion Boe net resource potential NW Cana STACK High ROR oil and condensate reservoirs Cana Field Woodford Springer Dominant SCOOP leasehold position: 471,000 net acres CLR net SCOOP…
  8. Investor Update – Continental Resources, Inc. – slide 8
    CLRs Newest Oil Discovery: Springer Shale 2012 Stealth play becomes reality SCOOP CLR: Schoof 1-17H IP: 1,465 boepd 447 MMBoe net unrisked resource potential to CLR CLR: AC Walters 1-27H IP: 1,630 boepd 127 net MMBoe in the oil…
  9. Investor Update – Continental Resources, Inc. – slide 9
    Exceptional Economics Springer Shale Oil Springer Shale Type Curve 800 40 Well Count 700 Type Curve (Normalized to 4,500' LL) EUR: 940 Mboe Act. Production (4,066' Avg LL) 600 30 Normalized to 4,500 lateral 500 Boe per…
  10. Investor Update – Continental Resources, Inc. – slide 10
    SCOOP: Woodford Overview High ROR: Condensate fairway: 60% ROR, based on 80 oil and 3.50 gas Oil fairway: 22% ROR, based on 80 oil and 3.50 gas Oklahoma City Superior well performance & economics: High productivity rock…
  11. Investor Update – Continental Resources, Inc. – slide 11
    Higher Returns With Extended Laterals Woodford Condensate Fairway Condensate Fairway Type Curve EUR: 1,725 MBoe 1,800 4,500' Act. Well Count 270 1,600 240 Normalized to 7,500 lateral Ext. Act. Well Count 1,400 4,500' Act.…
  12. Investor Update – Continental Resources, Inc. – slide 12
    Unlocking the Woodford Oil Fairway Woodford Oil Fairway Oil Fairway Type Curve EUR: 655 MBoe 600 120 Act. Well Count Normalized to a 7,500 lateral 500 Ext. Act. Well Count 100 Act. Production (4,100' Avg LL) Completed well cost:…
  13. Investor Update – Continental Resources, Inc. – slide 13
    Incremental Value Captured Through NW Cana JV Formed JV with SK E&S (South NW Cana STACK Korean Based) Cana Field Sold 49.9% interest in 44,000 acres and 37 producing wells for total consideration of 360 million 90 million cash…
  14. Investor Update – Continental Resources, Inc. – slide 14
    2015 Capital Expenditures Budget Total Capital Expenditures (4.6B) 2015 Highlights: Other Leasehold Maintaining 2014 activity levels Drilling 300 MM 4.6B CAPEX 114 MM 50 rigs running Other 270 MM Drilling capital allocation…
  15. Investor Update – Continental Resources, Inc. – slide 15
    Cost Discipline Driving Excellent Margins ( per Boe) 80 72.04 72.52 70 65.99 69.08 Strong/stable cash margins(1) 60 Margin scales as costs 50 Cash Cash Cash Cash remain flat Margin Margin Margin Margin 40 48.59 53.52 51.26…
  16. Investor Update – Continental Resources, Inc. – slide 16
    Capital Efficiency Industry Leading Recycle Ratio Recycle Ratio = Cash margin/F&D per Boe Exploration leadership enables low finding and development costs Efficient operator - evidenced by low operating costs per Boe Oil and liquids…
  17. Investor Update – Continental Resources, Inc. – slide 17
    Strong Liquidity and Financial Profile Financial Ratios and Ratings Agency Credit Ratings Net Debt/3Q Annualized EBITDAX 1.50x Leveraged Cash Margin (9 months YTD) 54.14 Moody's Baa3 Net Debt/Mid-Year Proved Reserves 4.72 3 Year…
  18. Investor Update – Continental Resources, Inc. – slide 18
    Appendix
  19. Investor Update – Continental Resources, Inc. – slide 19
    Poteet Density Project Underway Woodford Condensate Fairway Parent Well: Poteet 1-17H 1,800 Boe per day ( 50% Liquids ) 1,600 Poteet 1-17H (4,500' Lateral) Poteet Unit, NE Stephens County 1,400 (2012) 4,500' Type Curve 1,200…
  20. Investor Update – Continental Resources, Inc. – slide 20
    Good Martin Density Project Underway Woodford Oil Fairway Parent Well: Hansell 1-3-34XH Good Martin Unit, Grady County 1,400 Hansell 1-3-34XH (9,800' Lateral) 1,200 Offsetting the Hansell well Ext. Type Curve (Normalized to 7,500'…
  21. Investor Update – Continental Resources, Inc. – slide 21
    Annual Guidance As of November 5, 2014 2014 2015 Production growth (YOY) 27% to 30% 23% to 29% Capital expenditures (non-acquisition, in billions) 4.55 4.6 Operating Expenses: Production expense per Boe 5.60 to 6.00 5.50 to…
  22. Investor Update – Continental Resources, Inc. – slide 22
    Continuing to Deliver Excellent Margins As of 9 Months 2009 2010 2011 2012 2013 3Q2014 Ended 9/30/14 Realized oil price (/Bbl) 54.44 70.69 88.51 84.59 89.93 85.49 89.02 Realized natural gas price (/Mcf) 2.95 4.26 4.87 3.73 4.87 5.10…
  23. Investor Update – Continental Resources, Inc. – slide 23
    EBITDAX Reconciliation to GAAP We use a variety of financial and operational measures to assess our performance. Among these measures is EBITDAX. EBITDAX represents earnings (net income) before interest expense, income taxes,…
  24. Investor Update – Continental Resources, Inc. – slide 24
    EBITDAX Reconciliation to GAAP The following tables provide reconciliations of our net income and operating cash flows to EBITDAX for the periods presented: YTD In thousands 2009 2010 2011 2012 2013 3Q2014 9/30/14 Net income…
  25. Investor Update – Continental Resources, Inc. – slide 25
    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…
  26. Investor Update – Continental Resources, Inc. – slide 26
    Investor Relations Contact Information John J. Kilgallon Vice President, Investor Relations Phone: 405-234-9330 Email: John.KilgallonCLR.com Website: www.CLR.com/Investors 27 Property of Continental Resources, Inc.…

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