Pages

Friday, February 7, 2014

Continental Resources With Operational Update

Press release.

Highlights:
  • proved reserves up by almost 40% y/y
  • net present value discounted at 10% (PV-10): $20 billion
  • market cap today: $20 billion
  • "strong increase in 2013 proved reserves reflected significant production growth in the Bakken play of North Dakota and Montana"
  • the Bakken has a PV-10 value of almost $15 billion
  • 1.2 million net acres in the Bakken
  • estimated total production in 2013 was almost 50 million boe, almost 40% increase y/y
  • despite the "bad" weather in December, 4Q13 production was 2% better than 3Q113; and 35% increase of 4Q12
  • reached the 150,000 boe milestone in November, 2013
  • CLR enters 2014 with 100 gross wells that are drilled but not yet producing, almost all of which are associated with multi-well pads
****************************************
Japanese Setting (in progress)
All Furniture Built by Son-In-Law

No comments:

Post a Comment

Note: Only a member of this blog may post a comment.