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Q4 2013 Earnings Supplement – Continental Resources, Inc.

Continental Resources, Inc. · Feb 27, 2014 · 14 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. Q4 2013 Earnings Supplement – Continental Resources, Inc. – slide 1
    4Q13 Earnings Supplement February 27, 2014
  2. Q4 2013 Earnings Supplement – Continental Resources, Inc. – slide 2
    Outstanding Full-Year Execution Full-year 2013 production: 49.6 MMBoe, up 39% over 2012 (71% oil) 144,250 Boe per day in 4Q13: up 35% over 4Q12 Bakken: 93,330 Boe per day, up 38% over 4Q12 SCOOP: 23,750 Boe per day, up 233% over…
  3. Q4 2013 Earnings Supplement – Continental Resources, Inc. – slide 3
    Theres Only One Bakken: Getting Bigger & Better Three Forks Thickness Map CLR leading basin-wide efforts to optimize oil recovery 1,320 Tangsrud* LTF 660 Lawrence** 2014 plan: 287 net wells (870 gross) Operating 22 average rigs…
  4. Q4 2013 Earnings Supplement – Continental Resources, Inc. – slide 4
    Strong Early Performance from Hawkinson Unit Industry landmark: unique production from 4 different producing intervals and spaced 1,320 feet apart Validates CLR vision for full-field development & demonstrates the vast resource…
  5. Q4 2013 Earnings Supplement – Continental Resources, Inc. – slide 5
    Continental Goes Ears Back in Antelope Plan to drill 350-400 wells over the next five years utilizing mega-pads 50 wells budgeted for 2014, with large production impact in 2015 Full field development includes MB, TF1, TF2 and TF3…
  6. Q4 2013 Earnings Supplement – Continental Resources, Inc. – slide 6
    CLR: The Premier Bakken Operator YE13 operated Bakken well costs were 8.0 million per well. Continental is targeting even lower YE14 well costs with a goal of 7.5 million per operated Bakken well for its typical completion design.…
  7. Q4 2013 Earnings Supplement – Continental Resources, Inc. – slide 7
    SCOOP: Continued Exploration and Appraisal SCOOP Oil , Condensate and Gas Window Map Gas Condensate Oil 4Q13 net production: 23,750 Boe per day Up 18% sequentially, up 233% over 4Q12 Plan to operate 18 average rigs in 2014 40%…
  8. Q4 2013 Earnings Supplement – Continental Resources, Inc. – slide 8
  9. Q4 2013 Earnings Supplement – Continental Resources, Inc. – slide 9
    2014 Operational and Financial Guidance As of February 26, 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…
  10. Q4 2013 Earnings Supplement – Continental Resources, Inc. – slide 10
    Cost Discipline Driving Excellent Margins 2009 2010 2011 2012 4Q 2013 2013 Realized oil price (/Bbl) 54.44 70.69 88.51 84.59 84.47 89.93 Realized natural gas price (/Mcf) 3.22 4.49 5.24 4.20 5.49 5.25 Oil production (Bopd) 27,459…
  11. Q4 2013 Earnings Supplement – Continental Resources, Inc. – slide 11
    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,…
  12. Q4 2013 Earnings Supplement – Continental Resources, Inc. – slide 12
    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 4Q 2013 2013 Net income 71,338…
  13. Q4 2013 Earnings Supplement – Continental Resources, Inc. – slide 13
    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…
  14. Q4 2013 Earnings Supplement – Continental Resources, Inc. – slide 14
    PV-10 Our 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. PV-10 generally differs…

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