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January 23, 2013
17:21 EDTCLRContinental Resources increases proved reserves 54% to 785 MMBoe
Continental Resources increased its year-end 2012 proved reserves to 785 MMBoe, or million barrels of oil equivalent, a year-over-year gain of 54%. With the 2012 increase, Continental has grown proved reserves at a compound annual growth rate of 45% since year-end 2009. Continental's 2012 proved reserves had a net present value discounted at 10% of $13.3B, a 45% increase over the PV-10 of $9.2B for proved reserves at year-end 2011. Proved reserves growth in 2012 primarily reflected strong production growth in the Bakken play of North Dakota and Montana, which Continental believes is the nation's premier oil play. Continental is the largest producer and leaseholder in the Bakken, with approximately 1.1M net acres. The company has also accelerated production growth in its South Central Oklahoma Oil Province, or SCOOP, an oil- and liquids-rich play in Oklahoma. 39% of Continental's total 2012 proved reserves, or 309.0 MMBoe, were proved developed producing, compared with 40% of year-end 2011 proved reserves. Crude oil reserves represented 72% of 2012 total proved reserves, a significant increase over year-end 2011, when crude oil accounted for 64% of the company's 508 MMBoe in proved reserves. The higher percentage of crude oil proved reserves in 2012 was accomplished despite two crude-oil concentrated divestitures. Continental currently operates 85% of its total proved reserves, compared with 86% at year-end 2011.
News For CLR From The Last 14 Days
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September 19, 2014
10:06 EDTCLROn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: American Eagle (AEO) upgraded to Buy from Neutral at Goldman... Concur (CNQR) upgraded to Neutral from Sell at Goldman... Continental Resources (CLR) upgraded to Buy from Neutral at Global Hunter... Deutsche Telekom (DTEGY) upgraded to Buy from Neutral at Citigroup... DuPont (DD) upgraded to Buy from Hold at BGC Financial... First Horizon (FHN) upgraded to Outperform from Market Perform at Raymond James... Francesca's (FRAN) upgraded to Buy from Neutral at Buckingham... Guess (GES) upgraded to Neutral from Underperform at Buckingham... National CineMedia (NCMI) upgraded to Outperform from Market Perform at FBR Capital... Patterson-UTI Energy (PTEN) upgraded to Overweight from Equalweight at Capital One... SABMiller (SBMRY) upgraded to Neutral from Reduce at Nomura... Synovus (SNV) upgraded to Strong Buy from Outperform at Raymond James... Texas Capital (TCBI) upgraded to Buy from Hold at Wunderlich... VF Corp. (VFC) upgraded to Buy from Hold at KeyBanc... Zions Bancorp (ZION) upgraded to Strong Buy from Outperform at Raymond James.
07:25 EDTCLRContinental Resources upgraded to Buy from Neutral at Global Hunter
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September 18, 2014
08:59 EDTCLROn The Fly: Pre-market Movers
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September 17, 2014
18:23 EDTCLRContinental Resources sees FY15 production growth of 26%-32%
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16:21 EDTCLRContinental Resources names Jack Stark as president, COO
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September 15, 2014
10:33 EDTCLRContinental Resources to hold analyst and investor day
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09:59 EDTCLROn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: American Realty (ARCP) initiated with an Overweight at JPMorgan... Athlon Energy (ATHL) initiated with a Buy at KLR Group... Capital Product (CPLP) initiated with a Buy at Jefferies... Continental Resources (CLR) initiated with a Buy at Canaccord... Costco (COST) initiated with a Buy at Citigroup... Infinera (INFN) initiated with an Outperform at Barrington... NRG Yield (NYLD) initiated with an Outperform at RBC Capital... PTC Therapeutics (PTCT) initiated with a Buy at Deutsche Bank... Power Solutions (PSIX) initiated with an Outperform at Northland... ServiceNow (NOW) initiated with an Outperform at William Blair... Target (TGT) initiated with a Neutral at Citigroup... Team (TISI) initiated with a Neutral at Sidoti... VeriFone (PAY) initiated with a Buy at Monness Crespi... Wal-Mart (WMT) initiated with a Neutral at Citigroup... Whiting Petroleum (WLL) initiated with a Buy at Canaccord... Winnebago (WGO) initiated with an Outperform at BMO Capital.
05:42 EDTCLRContinental Resources initiated with a Buy at Canaccord
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September 11, 2014
16:33 EDTCLRContinental says ahead of five-year plan to triple production, proved reserves
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16:32 EDTCLRContinental Resources COO Rick Bott resigns
Continental Resources announced that W.F. "Rick" Bott, president and COO, resigned to pursue other opportunities. His duties will be absorbed by senior management.
September 9, 2014
07:18 EDTCLRStephens to hold an investor trip
Energy: Oilfield Services Investor Plane Trip travels throughout Texas and Oklahoma on September 9-10.

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