CLR Has A New Presentation -- August 6, 2014

CLR has a new presentation.

Data points:

• 2Q14 Bakken production: 108,573 boe
• completed industry's first full-field development in prolific Antelope area (MB, TF1, TF2, and TF3)
• successfully completed three 1,320-foot density pilots since beginning density pilot program: Hawkinson, Rollefstad, and Tangsrud
• completed the first 660-foot density pilot at the Wahpeton unit
• three additional planned 660-foot density pilots to be completed: Lawrence, Mack, and Hartman
• average completed well costs: $8.0 million (FY13 target) met; fiscal year 2014 target: $7.5 million
• CLR continues to model the 603K EUR well as the average
• better EURs projected with slick water completions
• Madison 2-28H: after 29 days, 35% higher than 603K; 50% higher than neighboring wells
•  Sacramento 2-10H: after 192 days, 50% higher than 603K; 60% higher than average of neighboring wells
• both the Madison and the Sacramento wells are located in Williams County, east of Williston
•  the graph at slide 9 (Sacramento, Madison wells) is quite stunning
• large proppant volume & slick water providing better completions
•  large proppant volume, 3 test wells: 39% higher than 603K average; 30% higher than neighboring wells
•  slick water, 3 test wells: 35% higher than 603K average; 25% higher than average of neigboring wells

• incremental cost of enhanced completion designs estimated at $1.5 to 2 million
• Rest of presentation relates to the SCOOP

Long term: has CLR moved average Bakken/Three Forks well from 603K to 815K EUR (low end)? (using new completion techniques)