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Mid 2011 Update – Continental Resources, Inc.

Continental Resources, Inc. · Aug 16, 2011 · 19 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. Mid 2011 Update – Continental Resources, Inc. – slide 1
    Continental Resources Mid-2011 Update August 8, 2011
  2. Mid 2011 Update – Continental Resources, Inc. – slide 2
    Continental Resources, Inc. 1 oil producer in Williston Basin Accelerating growth with oil-rich drilling inventory Excellent 2Q 2011 Results 286MM EBITDAX (+31% YOY) 29% production growth YOY 3
  3. Mid 2011 Update – Continental Resources, Inc. – slide 3
    How Continental Is Creating Value 36%-to-39% production growth for 2011 (revised target) Hedges support 2B capex and accelerated growth High-margin operator of premium assets 73% cash margin in 1H 2011 Operating control of 88% of…
  4. Mid 2011 Update – Continental Resources, Inc. – slide 4
    Strong Production Growth Companywide MMBoe 29% YOY production 21.7 growth in 2Q 2011 Bakken production grew 15.8 51% YOY in 2Q 2011 13.6 12.0 Mid-year proved 10.6 9.0 reserves estimated 75% oil 421MM Boe, up 15% 83% over…
  5. Mid 2011 Update – Continental Resources, Inc. – slide 5
    Growth in Proved Reserves MMBoe 421 365 257 63% 63% oil 159 oil Mid-2011 Proved 135 Reserves: 421MM Boe 118 Anadarko Wdfrd 12% ND Bakken 49% Arkoma Wdfrd 14% Red River Units 12% MT Bakken 9% 6
  6. Mid 2011 Update – Continental Resources, Inc. – slide 6
    The Bakken: Continuing to Grow 200 Miles 24 billion Boe technically MIGRATED CONVENTIONAL OIL FIELDS recoverable (CLR estimate) 14,700 square-mile continuous oil accumulation 4,000 horizontal completions Industry adding 2,100…
  7. Mid 2011 Update – Continental Resources, Inc. – slide 7
    CLR Acreage: Substantially De-Risked 901,370 net acres (Mid-2011) MARGINALLY MATURE 68% is de-risked BAKKEN 27,177 Boepd in 2Q11 Bakken production MATURE BAKKEN +51% YOY EUR: 603,000 Boe per ND Bakken well 23 operated rigs M.…
  8. Mid 2011 Update – Continental Resources, Inc. – slide 8
    ECO-Pad Development Dual-zone development 8 Potential wells per 1,280-acre unit (4 Middle Bakken and 4 Three Forks) 4.8 MMBoe total EUR 603 MBoe EUR per well X 8 wells 10,000 Lodgepole limestone 1st ECO-Pad well pair below…
  9. Mid 2011 Update – Continental Resources, Inc. – slide 9
    ECO-Pad Design Enhances Economics CANADA 1 ECO-Pad Projects (Avg. IP per well for 4 wells) Bakken Thermal Maturity Limit 1. Glasoe/Raymo IP 940 Boepd 2. Kennedy/Miles 1,377 Boepd 3. Arthur/Hegler (1) 1,088 Boepd 4.…
  10. Mid 2011 Update – Continental Resources, Inc. – slide 10
    Montana Bakken Highlights 1. Rognas 2-22H IP 1,013 Boepd EXPLORATORY 2. Tolksdorf 1-1H 642 Boepd HALO 3. Big Sky 3-35H 1,163 Boepd 4. Clayton 3-20H 1,118 Boepd 2 5. Amestoy 1-6H 836 Boepd 5 6. Earl 2-25H 1,024 Boepd 1 4 7 7.…
  11. Mid 2011 Update – Continental Resources, Inc. – slide 11
    Bakken: Superior Growth and Returns Resource Net drilling Rate of potential (MMBoe) locations return ECO-Pad well CWC: 7.2MM 3,497 603 MBoe EUR locations Single well CWC: 8MM 603 MBoe EUR 1,652 MMBoe 1,549 locations…
  12. Mid 2011 Update – Continental Resources, Inc. – slide 12
    Leading in the Anadarko Woodford Helzer 1-35H CLR has led expansion of play Carter 1-15H CLR production 4,031 Boepd in 2Q11, 50% Brown 1-2H increase over 1Q11 270,529 net acres Trook 1-1H 13 CLR operated rigs drilling1 Acquired 500…
  13. Mid 2011 Update – Continental Resources, Inc. – slide 13
    Anadarko: Liquids-Rich Exposure Resource Net drilling Rate of potential (MMBoe) locations return 3,354 Lambakis 1-11H locations CWC: 7.9MM 7 Bcfe EUR 3,179 MMBoe NW Cana 1,663 CWC: 7.9MM locations 6.9 Bcfe EUR 1,576…
  14. Mid 2011 Update – Continental Resources, Inc. – slide 14
    Niobrara/DJ Basin Mid-August spud of second well: Marconi 1-1H WLL Terrace 36-11H 12 miles south of Newton CRZO State 1-16H 1-4H 625 Boepd IP Economic wells have CLR Newton 1-4H been in higher resistivity porous chalk fairway…
  15. Mid 2011 Update – Continental Resources, Inc. – slide 15
    Operating and Fiscal Discipline Years ended December 31, 2008 2009 2010 First Half 2011 Realized oil price (/bbl) 88.87 54.44 70.69 90.78 Realized natural gas price (/Mcf) 6.90 3.22 4.49 5.29 Oil production (Bopd) 24,993 27,459…
  16. Mid 2011 Update – Continental Resources, Inc. – slide 16
    Positioned for Value Creation Low-cost, high-margin operator Operate 88% of our PV-10 Strong balance sheet Hedged for operational stability Huge drilling inventory Goal: 3X growth in production and reserves 17
  17. Mid 2011 Update – Continental Resources, Inc. – slide 17
    Continental Resources, Inc. 18
  18. Mid 2011 Update – Continental Resources, Inc. – slide 18
    Appendix 19
  19. Mid 2011 Update – Continental Resources, Inc. – slide 19
    Swaps and Collars Swaps Collars Collars Barrels Weighted Avg. Floors Ceilings Jul. to Sept. 2011 Swaps 460,000 85.64 Collars 2,622,000 75 to 80 89 to 97.25 Wtd. Avg. 79.39 Wtd. Avg. 91.27 Oct. to Dec. 2011 Swaps 644,000 86.25…

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