CLR

CLR web page here. 

As of October 30, 2019 (3Q19 earnings) CLR will be tracked here.

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Updates

October 17, 2022: CLR goes private. We will no longer see quarterly reports.

July 30, 2022: 2Q22 earnings presentation.

June 14, 2022, flag day: after years of speculation, Harold Hamm finally pulls thee trigger -- will take his company private.

May 5, 2022: 1Q22 --

• additional acreage added in past 18 months: 600,000 net acres
  
• production:
• 195,000 bopd
• 1,074 MMcfpd
  
• plays:
• Bakken: 825,000 acres; 6 rigs; #1 producer;
  
• Powder River: 390,000 acres; 2 rigs; #2 leaseholder;
  
• Anadarko: 450,000 acres; 8 rigs; #1 producer;
  
• Permian: 170,000 acres; 4 rigs; #10 leaseholder;
  

February 14, 2022: 4Q and full year production, link here.

• Bakken, CY2021: 169,636 bopd
• Bakken, 4Q21: 183,141
• total production, all basins, 4Q21: 340,168 bopd

January 26, 2022: update, SeekingAlpha.

January 25, 2022: CLR building a position in the Powder River Basin, Wyoming. 

January 25, 2022: CLR acquires 172,000 net acres in Wyoming, Powder River Basin, for $2,600 / acre. 

November 6, 2021: CLR enters the Permian.

October 27, 2021: 3Q21 -- some preliminary production numbers; earnings release has been re-scheduled for November 3, 2021.

October 16, 2021: 2Q21, anticipating 3Q21.

August 6, 2021: CLR will be drilling an exploratory well in Vernon Parish, Louisiana, target Austin Chalk, just west of TMS.

August 5, 2021: 2Q21 transcript.

February 17, 2021: 4Q20 transcript; Q&A here;

February 17, 2021: February, 2021 corporate presentation;

February 17, 2021: CLR acquires 130,000 net acres in Powder River Basin, Wyoming, for $215 million, all cash deal.

February 12, 2021: damn the torpedoes, full speed ahead;

July 15, 2020: damn the torpedoes, full speed ahead.

1Q20: link here -- 

• production 
• 360,000 boepd (56% oil)
• up 9% year-over-year
• shutting down in the Bakken

4Q19 and full year, 2019: press release here. 

• full year:
• net income: $775.6 million
• $2.08 / diluted share
• $838.7 million adjusted net income, or $2.25/diluted share (non-GAAP)
• production:
• 340,395 boepd, up 14% y/y
• 197,991 bopd, up 185 y/y
• $3.1 billion of cash flow from operations;
• $608 million free cash flow
• #1 oil producer in both the Bakken and Oklahoma
• Bakken: 148,417 average daily oil production, up 14% y/y
• south: 41,695 bopd; up 43% y/y
• 4Q19:
• $193.9 million net income, or 53 cents/share (one-penny beat)
• $203.6 million adjusted net income, or 55 cents per diluted share
• production:
• 365,341 boepd average daily production, up 13% y/y
• 206,249 bopd average oil production, up 10% over 4Q18
• 2020 CAPEX and guidance
• $2.9 billion to $3.0 billion of cash flow from operations
• $350 million to $400 million of free cash flow
• budgeted at $55 WTI and $2.50 HH; 
• $5 change in WTI, approximate $300 million in cash flow

3Q19 earnings presentation here. 

3Q19: From the press release:

• $158.2 million in net income in 3Q19, or $0.43 per diluted share
• $199.4 million adjusted net income in 3Q19, or $0.54 per diluted share (non-GAAP)
• 198,074 average daily 3Q19 oil production up 20% over 3Q18
• 332,315 boepd average daily 3Q19 production up 12% over 3Q18
• Bakken: 145,436 average daily 3Q19 oil production up 13% over 3Q18
• 57 gross operated wells deliver 2,313 boepd average/well initial rate
• South: 44,854 average daily 3Q19 oil production up 62% over 3Q18
• SpringBoard exceeded 3Q19 target by 31%: 23,641 bopd; 4Q19 target raised to ~24,000 Bopd
• CLR STACK: two, 7-well oil units deliver exceptional results: 38,320 bopd combined initial rate
• $187 million of share repurchases executed through October 29, 2019
• quarterly dividend of $0.05 per share in November 2019

Continental Resources (CLR) -- brought forward from "Bakken operators."

• CY18 and 4Q18 results; full year income at $1 billion;  4Q18 Bakken production: 186,934 bopd; 183,836 boepd; 2018 was "break out year" for debt reduction; cash build;
• 3Q18 results; Bakken production, 167,643 boepd; added two rigs to the Bakken; now with eight; many records set; earnings beat expectations; presenation;
• 2Q18 presentation: step change in well performance across the Bakken
• May, 2018, presentation: 796,000 net acres in the Bakken; 161K boepd, up 48% over 1Q17; 1,100 mboe EUR type curves ($7.9 million) vs 980 mboe EUR type curves in 2017; see SeekingAlpha article;
• March, 2018: 1.1 million-bbl EUR type curves; 
• August, 2017: 806,000 net acres in the Bakken; 1.1 million boe EURs
• CLR transfers 67 wells to Kraken Operating, October 27, 2016
• August, 2016: sells 80,000 non-core Bakken assets; $222 million;
• 2Q16 corporate presentation;
• 1Q16 corporate presentation; 
• 2015 corporate presentation: CAPEX cut 41% due to oil price slump
• 2014 analyst day: 1,197,884 net acres (892,824 ND; 305,060 MT); 109,000 boepd; 8 wells in each MB and TF1, 4 wells in TF2; enhanced completion --> 25% uplift in EUR; long-stroke pumping units;
• 2Q14:  ND Bakken - 95K boepd; MT Bakken - 14K;
• 22 rigs beginning of 2013 in the Bakken; will reduce to 20 rigs due to efficiencies
• Well cost: $8.3 million; goal - $8.2 million by year-end 2013
• 1Q13: net Bakken production: 76,900 boepd; gross >100,000 boepd; 1.2 million acres;
•  785 million boe proved reserves year-end 2012; 54% increase YOY
• 2Q12: average production of 94,852 boepd
• 4Q11: 901,098 net acres
• 4Q11 production: 75,219 boepd
• 2009 production: 14,000 boepd
• EUR: 603K boe per well