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October 13, 2012

Continental Resources 5 year plan and their view of the Bakken

Continental resources had an investor presentation that describes how they plan to increase their production of oil (mostly in North Dakota Bakken). They also describe their view of the Bakken, total recoverable oil and new understanding of its geological potential.

They discuss how they are working quadruple their reserves.
Their target for the yearend of 2013 is to lower their per well cost from $9.2 million down to $8.2 million.
They discuss increasing their oil production for next year (35% more) by increasing their capital budget by about 13% and reducing cost per well.
The five year plan is to triple their oil production. This seems like a combination of continued increasing capital budget and further reductions in costs per well and other improvements.
They describe their new understanding of the geology of the Bakken.










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