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1Q14 Earnings Supplement – Continental Resources, Inc.

Continental Resources, Inc. · May 7, 2014 · 16 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. 1Q14 Earnings Supplement – Continental Resources, Inc. – slide 1
    1Q14 Earnings Supplement May 7, 2014
  2. 1Q14 Earnings Supplement – Continental Resources, Inc. – slide 2
    Organic Growth through Exploration, Development and Advances in Technology NYSE listed: CLR Enterprise Value: 30B Market Cap: 25B Total Debt: 5B 1.2 Million Net Acres Leased Straight forward strategy Disciplined growth: 5-Year…
  3. 1Q14 Earnings Supplement – Continental Resources, Inc. – slide 3
    1Q14 Operational & Financial Highlights 1Q14 production: 152,500 Boe per day, up 25% since 1Q13 (70% oil) Bakken: 97,500 Boe per day, up 27% over 1Q13 EBITDAX (MM) SCOOP: 29,400 Boe per day, up 106% over 1Q13 3,000 2,840 YE13…
  4. 1Q14 Earnings Supplement – Continental Resources, Inc. – slide 4
    Theres Only One Bakken: Getting Bigger & Better Leading basin-wide efforts to optimize oil recovery 2014 plan: 287 net wells (870 gross) 1,320 Tangsrud* Operating 21 average rigs in 2014 LTF 660 Lawrence** Initiated industrys first…
  5. 1Q14 Earnings Supplement – Continental Resources, Inc. – slide 5
    Continued Robust Hawkinson Performance Continued strong production after 150+ days Hawkinson Unit 13 of 14 wells trending on average 50% 1,320 Pilot above 603 MBoe model EUR Completed using standard design with 100,000 pounds of…
  6. 1Q14 Earnings Supplement – Continental Resources, Inc. – slide 6
    Rollefstad: Promising Preliminary Results Outstanding initial results: New well average IP rates: MB and TF1: 2,960 Boe per day TF2 and TF3: 2,650 Boe per day Existing well average IP rates: MB and TF1: 1,330 Boe per day Combined…
  7. 1Q14 Earnings Supplement – Continental Resources, Inc. – slide 7
    Tangsrud: Pushing the Limits Designed to extend LTF productive footprint and test 1,320 foot density Average initial rates: New wells: MB and TF1: 670 Boe per day TF2 and TF3: 285 Boe per day All new wells producing on pump and…
  8. 1Q14 Earnings Supplement – Continental Resources, Inc. – slide 8
    Return Driven Completion Testing (Boe) Cumulative Production vs Producing Days Madison 2-28H 140,000 Madison 2-28H: 180 Days Sacramento 2-10H 37% higher than 603 MBoe 120,000 603 603 MBoe Type Curve 59% higher than average of…
  9. 1Q14 Earnings Supplement – Continental Resources, Inc. – slide 9
    SCOOP: Continued Exploration and Appraisal 1Q14 net production: 29,400 Boe per day SCOOP Oil , Condensate and Gas Window Map Gas Condensate Oil Up 24% sequentially, up 106% over 1Q13 Plan to operate 18 average rigs in 2014 50% of…
  10. 1Q14 Earnings Supplement – Continental Resources, Inc. – slide 10
    Strong Liquidity and Financial Profile Financial Ratios and Ratings YE13 FY13 Agency Credit Ratings Net Debt/TTM EBITDAX 1.65x Cash Margin 53.52** Moodys Baa3 Net Debt/Proved Reserves 4.32 All-in F&D (/Boe) 11.01 S&P BBB- Net Debt/…
  11. 1Q14 Earnings Supplement – Continental Resources, Inc. – slide 11
    Appendix
  12. 1Q14 Earnings Supplement – Continental Resources, Inc. – slide 12
    2014 Operational and Financial Guidance As of May 7, 2014* 2014 Production growth (YOY) 26% to 32% Capital expenditures (non-acquisition) 4.05B Operating Expenses: Production expense per Boe 5.60 to 6.10 Production tax (% of oil…
  13. 1Q14 Earnings Supplement – Continental Resources, Inc. – slide 13
    Cost Discipline Driving Excellent Margins 2009 2010 2011 2012 2013 1Q2014 Realized oil price (/Bbl) 54.44 70.69 88.51 84.59 89.93 89.73 Realized natural gas price (/Mcf) 2.95 4.26 4.87 3.73 4.87 7.06 Oil production (Bopd) 27,459…
  14. 1Q14 Earnings Supplement – Continental Resources, Inc. – slide 14
    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,…
  15. 1Q14 Earnings Supplement – Continental Resources, Inc. – slide 15
    EBITDAX Reconciliation to GAAP (contd) The following tables provide reconciliations of our net income and operating cash flows to EBITDAX for the periods presented: In thousands 2009 2010 2011 2012 2013 1Q2014 Net income 71,338 168,255…
  16. 1Q14 Earnings Supplement – Continental Resources, Inc. – slide 16
    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…

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