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Continental Resources Inc CLR Stock Quote

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Morningstar‘s Stock Analysis CLR

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Is it the right time to buy or sell?

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5-Star Price

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Economic Moat

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Capital Allocation

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Continental Go-Private Offer Pending

Business Strategy and Outlook

| Dave Meats, CFA |

Continental Resources played a key role in the early development of the Bakken Shale in North Dakota's Williston Basin. Continental's Bakken footprint encompasses around 800,000 net acres, with a large portion in "core" counties (McKenzie, Dunn, Mountrail, and Williams). The company has demonstrated success with optimized completions over a wide area and well performance has been holding steady for several years, with no sign yet of resource exhaustion. As these wells are relatively cheap on a cost-per-foot basis, and because Continental enjoys lower unit costs than most upstream peers, the economics are extremely competitive (individual wells are NPV-positive with West Texas Intermediate prices under $40).

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Key Statistics CLR

Company Profile CLR

Business Description

Continental Resources is a U.S. oil and gas producer targeting in the Bakken Shale in North Dakota, the Delaware Basin in Texas, and the Scoop/Stack plays in Oklahoma. At the end of 2021, the company reported net proven reserves of 1.6 billion barrels of oil equivalent. Net production averaged 330 thousand barrels of oil equivalent per day in 2020, at a ratio of 49% oil and 51% natural gas and NGLs.

Contact
20 North Broadway
Oklahoma City, OK, 73102
T +1 405 234-9000
Sector Energy
Industry Oil & Gas E&P
Most Recent Earnings Jun 30, 2022
Fiscal Year End Dec 31, 2022
Employees 1,254

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