Locator: 10010CLR.
CLR web page here.
As of October 30, 2019 (3Q19 earnings) CLR will be tracked here.
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Updates
May 31, 2024: just before CLR went private (bought by the Hamm family), market cap for CLR was just under $27 billion, that was in 2023.
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 the trigger -- will take his company private.
May 5, 2022: 1Q22 --
- additional acreage added in past 18 months: 600,000 net acres
- production:
- 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
