CLR -- Investor Update, January 2015

See disclaimer; there maybe typographical and factual errors; if this information is important to you, go to the source. in this case, the CLR webpage. 

Revised 2015 CAPEX and production guidance

• $2.7 billion (reduced 41%)
• 16 - 20% yoy production growth

Two (2) world-call platforms for growth

• SCOOP: 471,000 net acres
• Bakken: 1.2 million net acres

Repeatable, low risk inventory in the Bakken

• 4.1 billion boe unrisked potential
• 11,817 net unrisked potential locations
• 10 years of inventory averaging 775,000 boe/well
• 25 years of inventory averaging 600,000 boe/well

Repeatable, low risk inventory in SCOOP

• 3.6 billion boe net unrisked potential
• 4,750 unrisked potential locations

2015 Bakken drilling program

• focus on high ROR core
• 800,000 boe average EUR
• 15% increase in EUR due to high-graded 2015 drilling program

2015: expanding footprint of enhanced 30-stage completions

• 30% to 45% uplift in average 90-day rates
• 25% to 30% increase in EUR

2015 projected average operated rigs

• 18 rigs in early January, 2015
• about 10 rigs rest of 2015

Status of well

• 122 gross operated completed wells waiting completion

Slide 9: comparing slickwater with hybrid wells; both with greater uplift than offset average

• slickwater: 10 middle Bakken and 3 TF1 wells; will yield 46% uplift
• hybrid: 7 middle Bakken and 10 TF1 wells; about $500K less cost than slickwater; 29% uplift

Bakken

• Current CWC: $9.5 million (15% CWC reduction)
• anticipate 15% more reduction in service costs due to lower oil prices
• 800K boe model parameters
• 664K oil
• 820 MMcf gas (conversion factor: 6,029)
• minimum decline, oil: 6%
• minimum decline, gas: 4%

SCOOP

• CWC: $9.7 million (anticipate further 15% reduction)
• 4,500-foot laterals (short laterals
• current EUR model: 940K boe (67% oil; 17% NGL, 16% gas)
• conversion factor: 6,000

Woodford Thickness

• 130 feet north end and south end (Hunton)
• max of 950 feet in the Woodford center