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Investor Update – Continental Resources, Inc.

Continental Resources, Inc. · Feb 13, 2012 · 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. Investor Update – Continental Resources, Inc. – slide 1
    Investor Update February 13, 2012
  2. Investor Update – Continental Resources, Inc. – slide 2
    Continental Resources, Inc. 1 oil producer in Williston Basin 508 MMBoe proved reserves at YE2011 39% growth YOY Strong 4Q 2011 operating results 57% YOY production growth to 75,219 Boepd 80,000 Boepd+ in early January Plan to…
  3. Investor Update – Continental Resources, Inc. – slide 3
    Creating Value Through Growth Consistent, organic growth Goal: 3X production and proved reserves 2009-2014 Multi-decade drilling inventory Crude oil/liquids in premier U.S. resource plays High margins through operating control…
  4. Investor Update – Continental Resources, Inc. – slide 4
    Excellent Operating Results 4Q11: 75,219 Boepd production Charlotte 2-22H 1st successful test of a deeper Three Forks bench 1,396 Boepd in 1-day test (gross) Sunline 11-1TF-2SH, 2 test confirmation: 1,023 Boepd IP 22,600 net acres…
  5. Investor Update – Continental Resources, Inc. – slide 5
    Strong Production Growth MMBoe 28.9 22.6 15.8 73% 9.0 oil 83% oil Est.* *Upper end of 26%-to-28% guidance range. 6
  6. Investor Update – Continental Resources, Inc. – slide 6
    Strong Growth in Proved Reserves MMBoe 508 365 64% oil 118 83% oil 7
  7. Investor Update – Continental Resources, Inc. – slide 7
    Five-Year Growth Plan MMBoe Production MMBoe Proved Reserves 771 41 28.9 508 257 13.6 Est.* Est. Est. ahead of plan We are solidly on track to meet our five-year goals. *Upper end of 26%-to-28% guidance range. 8
  8. Investor Update – Continental Resources, Inc. – slide 8
    The Bakken Keeps Getting Better 200 Miles 24 billion Boe technically MIGRATED CONVENTIONAL OIL FIELDS recoverable oil and gas* 14,700 sq. mi. continuous oil accumulation 4,500 horizontal wells Fault Zone drilled 250…
  9. Investor Update – Continental Resources, Inc. – slide 9
    CLR Acreage 80% De-Risked Approaching 1 million net acres largest acreage holder in the Bakken MATURE BAKKEN 603,000 Boe EUR per well (ND) Charlotte 2-22H 22 operated rigs M. BKKN PINCHOUT Sunline 11-1TF-2SH Testing deeper TF…
  10. Investor Update – Continental Resources, Inc. – slide 10
    Bakken Development Plan Original dual-zone development plan 8 wells per 1,280 1st ECO-Pad well pair 10,000 below acres 4 MB, 4TF Upper Bakken Shale surface 603,000 Boe EUR per well ECO-Pad design: Lower Bakken Shale 2 wells…
  11. Investor Update – Continental Resources, Inc. – slide 11
    Montana Bakken NORTH DAKOTA MONTANA 7 gross operated N. EXTENSION wells completed in EXPLORATORY 4Q2011 DEVELOPMENT 46% average ROR on 2011 wells Two-rig drilling program continuing in 2012 Bakken Producer S.…
  12. Investor Update – Continental Resources, Inc. – slide 12
    ECO-Pad Enhances Development 10% lower cost per well CANADA 4Q 2011 ECO-Pad Projects (Avg. IP per well for 4 wells) Hamlet-Salo Dvirnak-Pletan 1,838 Boepd Williams Bailey-Wiley 1,105 Boepd Hamlet-Salo 811 Boepd McKenzie…
  13. Investor Update – Continental Resources, Inc. – slide 13
    Bakken Growth and Returns Potential Net drilling Rate of (MMBoe) locations return 3,497 locations ECO-Pad well CWC: 7.2MM 603 MBoe EUR Single well 2,109 CWC: 8MM MMBoe 603 MBoe EUR 1,549 locations 934 337 MMBoe wells…
  14. Investor Update – Continental Resources, Inc. – slide 14
    Anadarko Woodford 7,164 Boepd in 3Q 2011 Brown 1-2H production (+78% from 2Q 2011) Petty 1-16H Toms 1-21XH Southeast Cana Lambakis 1-1H (98% WI) 5.4 MMcfpd, 160 Bopd Lyle 1-30H (99% WI) 7.1 Wray 1-1H MMcfpd, 325 Bopd Sprowls…
  15. Investor Update – Continental Resources, Inc. – slide 15
    Anadarko Woodford Potential Net drilling Rate of (MMBoe) locations return SE Cana X-Unit CWC: 14MM 3,354 16.6 Bcfe EUR locations 3,312 SE Cana MMBoe CWC: 9MM 7.6 Bcfe EUR 1,663 NW Cana X-Unit locations CWC: 13MM 11.1 Bcfe…
  16. Investor Update – Continental Resources, Inc. – slide 16
    Niobrara/DJ Basin Staudinger 1-31H (56% WI) 739 Boepd IP IP improved since initial Hahn 1-4H announcement Perrin 1-10H Marconi 1-1H Staudinger 1-31H Three wells flowing back 25,000 net acres in fairway (90,293 net acres total…
  17. Investor Update – Continental Resources, Inc. – slide 17
    Operating Discipline Years ended December 31, First 9 mos. 2008 2009 2010 2011 Realized oil price (/bbl) 88.87 54.44 70.69 88.19 Realized natural gas price (/Mcf) 6.90 3.22 4.49 5.37 Oil production (Bopd) 24,993 27,459 32,385 42,160…
  18. Investor Update – Continental Resources, Inc. – slide 18
    Creating Value Through Long-Term Sustainable Growth Consistent, strong organic growth Crude oil Bakken is the largest field discovered in 40 years High margins through operating control Capital discipline Hedged for operational…
  19. Investor Update – Continental Resources, Inc. – slide 19
    Appendix 20
  20. Investor Update – Continental Resources, Inc. – slide 20
    2012 Guidance Capital expenditures budget 1.75 Billion Operated drilling rigs (avg.) 40 Production growth 26% to 28% Price differentials: WTI crude oil (Bo) 7 to 9 Henry Hub natural gas (Mcf) +1 to +1.50 Operating expenses per…
  21. Investor Update – Continental Resources, Inc. – slide 21
    2012 Capex Allocations (Millions) Drilling capex ND Bakken 950 MT Bakken 91 Red River Units 23 Niobrara 59 Anadarko Woodford 355 Arkoma Woodford 2 Other 59 Capital workovers and facilities 90 Land 94 Seismic 20 Other 7…
  22. Investor Update – Continental Resources, Inc. – slide 22
    Swaps and Collars Swaps Collars Collars Barrels Weighted Avg. Floors Ceilings Oct. to Dec. 2011 Swaps 644,000 86.25 Collars 2,622,000 75 to 80 89 to 97.25 Wtd. Avg. 79.39 Wtd. Avg. 91.27 Jan. to Dec. 2012 Swaps 9,150,000 90.17…
  23. Investor Update – Continental Resources, Inc. – slide 23
    EBITDAX Reconciliation 1st 9 Months (In thousands) 2008 2009 2010 2011 3Q 2011 Net income 320,950 71,338 168,255 541,136 439,143 Interest expense 12,188 23,232 53,147 56,737 18,981 Provision for income taxes 197,580 38,670 90,212…

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