Skip to main content Investor Update – Continental Resources, Inc. Investor Presentation | Shale Experts
Loading...
Pm

Investor Update – Continental Resources, Inc.

Continental Resources, Inc. · Feb 4, 2015 · 30 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 February 2015
  2. Investor Update – Continental Resources, Inc. – slide 2
    Continental Resources Founded in 1967 by Harold Hamm New York Stock Exchange listed, went public in 2007 at 7.50 per share (split adjusted), ticker symbol: CLR BAKKEN 1.2 Million Net Acres Leased 23 billion enterprise value…
  3. Investor Update – Continental Resources, Inc. – slide 3
    2015: Embracing Market Change Revised 2015 capex and production guidance Other Leasehold, 180MM Drilling, Other, 2.7 billion capex (reduced 41%) 102MM 147MM Targeting cash flow neutrality by mid-year 2015 16%-20% YOY production…
  4. Investor Update – Continental Resources, Inc. – slide 4
    Utilizing Strengths and Flexibility Asset Strength High quality, high ROR assets in Bakken and SCOOP 2015 drilling program targeting 35% ROR, and 45% ROR at 15% reduced completed well costs (CWC)* Inventory Flexibility Deep and…
  5. Investor Update – Continental Resources, Inc. – slide 5
    Two World-Class Platforms for Growth Leading positions in both the Bakken Production Growth (Boe per Day) and SCOOP 180,000 174,000 Scalable economics from large leasehold SCOOP Bakken and production volumes 160,000 Legacy Bakken…
  6. Investor Update – Continental Resources, Inc. – slide 6
    Exceptional Proved Reserves Growth Decades of repeatable, low risk Total Proved Reserves inventory to fuel future growth (MMBoe) Proved reserves totaled 1.35 billion 1,400 Boe at YE14, +25% over YE13 PV-10 of 22.8 billion at YE14,…
  7. Investor Update – Continental Resources, Inc. – slide 7
    High Quality Assets Provide Optionality ROR vs. Oil Price: Current & Expected Lower CWC Comparison Bakken Oil Bakken Oil 15% CWC Reduction NW Cana Gas with Carry NW Cana Gas With Carry 15% CWC Reduction SCOOP Woodford Condensate SCOOP…
  8. Investor Update – Continental Resources, Inc. – slide 8
    2015 Bakken Drilling Program: Focused on High ROR Core 800 MBoe/well projected average EUR 15% increase in EUR due to high graded 2015 drilling program 95% enhanced completions Expanding footprint of enhanced 30 stage completions…
  9. Investor Update – Continental Resources, Inc. – slide 9
    Enhanced Completions Update Williams & McKenzie Counties - 30 Stage Completions 90-Day Production Comparison 65,000 46% Uplift 60,000 55,000 29% Uplift 50,000 45,000 40,000 Cum BOE 35,000 30,000 25,000 20,000…
  10. Investor Update – Continental Resources, Inc. – slide 10
    Bakken Continues to Deliver Solid Economics 2015 Drilling Program: Targeting 800 MBoe EUR/well 100% ROR vs Oil Price 800 MBoe Model Parameters Current CWC (9.6 MM) 9.6 MM CWC 2 Mile Lateral Length 90% 15% CWC -15%Reduction CWC…
  11. Investor Update – Continental Resources, Inc. – slide 11
    SCOOP Woodford: Continues to Grow Excellent production extended another 12 miles south Connell 1-13-12XH: IP 10,951 Mcfd and 518 Bopd Oklahoma City 9,500 lateral Ritter 1-3-34XH: IP 11,747 Mcfd 6,500 lateral CLR: Galvin 1-22-27XH…
  12. Investor Update – Continental Resources, Inc. – slide 12
    Higher Returns With Extended Laterals Woodford Condensate Fairway Condensate Fairway Type Curve 1,800 270 4,500' Act. Well Count Approximately 70% of 2015 wells will be 1,600 Ext. Act. Well Count 4,500' Act. Production 240 1,400…
  13. Investor Update – Continental Resources, Inc. – slide 13
    SCOOP Springer: Expanding Oil Discovery Continued success with oil fairway step-outs SCOOP Schoof 1-17H: IP 1,465 Boepd Lyle Land 1-25H: IP 1,134 Boepd CLR: Schoof 1-17H IP: 1,465 Boepd Martha 1-34H: IP 934 Boepd CLR: Martha 1-34H…
  14. Investor Update – Continental Resources, Inc. – slide 14
    SCOOP Springer Oil: Exceptional Economics 900 Springer Shale Type Curve Current EUR/Well Model: 940 MBoe 800 Well Count 40 Type Curve (Normalized to 4,500' LL) 700 Act. Production (4,275' Avg LL) 4,500 lateral 600 30 Well…
  15. Investor Update – Continental Resources, Inc. – slide 15
    Incremental Value Captured Through NW Cana JV Formed JV with SK E&S (South Korean based) STACK NW Cana Sold 49.9% interest in 44,000 acres and 37 producing wells for total consideration of Cana Field 360 million 90 million cash at…
  16. Investor Update – Continental Resources, Inc. – slide 16
    2015 Capital Expenditures Budget Non-Acquisition Capital Expenditures: 2.7B Drilling capital allocation: Bakken: 65% Other Leasehold, SCOOP: 31% Drilling, 180MM Other, Woodford: 24% 102MM 147MM Springer: 7% NW Cana JV & Other:…
  17. Investor Update – Continental Resources, Inc. – slide 17
    Low Cash Cost Drives Excellent Margins ( per Boe) 80 72.45 72.04 72.52 65.99 69.08 70 59.35 60 50 44.68 54.74 53.52 54.14 51.26 48.59 40 76% 74% 75% 43.32 74% 74% 73% 30 30.93 69% 20 3.40 3.95 4.74 4.40 4.61 3.34…
  18. Investor Update – Continental Resources, Inc. – slide 18
    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/YE14 Proved Reserves 4.42 3 Year All-in…
  19. Investor Update – Continental Resources, Inc. – slide 19
    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…
  20. Investor Update – Continental Resources, Inc. – slide 20
    CLR: A Lean, Efficient Organization 250 3Q14 Daily Production Mix per Employee Gas Oil 200 Boe per day per employee 150 70% 100 49% 50% 57% 50 36% 33% 46% 64% 66% 16% 0 Peer 1 CLR Peer 2 Peer 3 Peer 4 Peer 5…
  21. Investor Update – Continental Resources, Inc. – slide 21
    Updated 2015 Guidance As of December 22, 2014 2015* Production growth (YOY) 16% to 20% Capital expenditures (non-acquisition, in billions) 2.7 Operating Expenses: Production expense per Boe 5.50 to 6.00 Production tax (% of oil &…
  22. Investor Update – Continental Resources, Inc. – slide 22
    Appendix
  23. Investor Update – Continental Resources, Inc. – slide 23
    Woodford Thickness Expands Across Leasehold Development Program Initiated 2013 2014 Exploratory Program North South 130 150 W 245 o 230 380 Hunton o 295 560 d 465 f o r d 950 Hunton Gamma Ray Brittleness 25…
  24. Investor Update – Continental Resources, Inc. – slide 24
    NW Cana Joint Venture Blaine Type Curve Dewey Type Curve 1,500 60 1,200 1,200 Extended Type Curve (Normalized 60 60.00 Actual Well Count Actual Well Count to 7500') BOE Extended Type Curve (Normalized to 7500') BOE Extended Type…
  25. Investor Update – Continental Resources, Inc. – slide 25
    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…
  26. Investor Update – Continental Resources, Inc. – slide 26
    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,…
  27. Investor Update – Continental Resources, Inc. – slide 27
    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…
  28. Investor Update – Continental Resources, Inc. – slide 28
    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…
  29. Investor Update – Continental Resources, Inc. – slide 29
    PV-10 Disclosure The Company's PV-10 value, a non-GAAP financial measure, is derived from the Standardized Measure of discounted future net cash flows, which is the most directly comparable financial measure computed using U.S. GAAP.…
  30. Investor Update – Continental Resources, Inc. – slide 30
    Investor Relations Contact Information John J. Kilgallon Vice President, Investor Relations Phone: 405-234-9330 Email: John.KilgallonCLR.com Website: www.CLR.com/Investors 31 Property of Continental Resources, Inc.…

From the store

Browse maps, data & reports in the Shale Experts store