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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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May 18, 2015
10:01 EDTCLROn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: A10 Networks (ATEN) upgraded to Overweight from Sector Weight at Pacific Crest... Cal-Maine Foods (CALM) upgraded to Overweight from Equal Weight at Stephens... ChemoCentryx (CCXI) upgraded to Overweight from Neutral at JPMorgan... Cheniere Energy Partners LP (CQP) upgraded to Buy from Neutral at Goldman... Chicago Bridge & Iron (CBI) upgraded to Neutral from Sell at Goldman... Continental Resources (CLR) upgraded to Buy from Neutral at Goldman... Ctrip.com (CTRP) upgraded to Overweight from Neutral at JPMorgan... Emerge Energy (EMES) upgraded to Buy from Neutral at Goldman... FEMSA (FMX) upgraded to Overweight from Equal Weight at Morgan Stanley... GoPro (GPRO) upgraded to Perform from Underperform at Oppenheimer... Holly Energy (HEP) upgraded to Buy from Neutral at Goldman... JP Energy (JPEP) upgraded on better visibility on volumes at RBC Capital... Laredo Petroleum (LPI) upgraded to Neutral from Sell at Goldman... Malvern Bancorp (MLVF) upgraded to Outperform from Market Perform at Keefe Bruyette... Newfield Exploration (NFX) upgraded to Buy from Neutral at Goldman... Norsk Hydro (NHYDY) upgraded to Overweight from Neutral at JPMorgan... Owens-Illinois (OI) upgraded to Neutral from Underperform at BofA/Merrill... Penn National (PENN) upgraded to Buy from Neutral at Goldman... Roche (RHHBY) upgraded to Buy from Neutral at UBS... Schnitzer Steel (SCHN) upgraded on stabilizing headwinds at KeyBanc... Seventy Seven Energy (SSE) upgraded to Buy from Hold at Jefferies... Toll Brothers (TOL) upgraded to Neutral from Underperform at Sterne Agee CRT... United Therapeutics (UTHR) upgraded to Buy from Neutral at BTIG... Volvo (VOLVY) upgraded to Neutral from Underweight at JPMorgan... Zayo Group (ZAYO) upgraded to Buy from Neutral at Goldman.
06:29 EDTCLRContinental Resources upgraded to Buy from Neutral at Goldman
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May 15, 2015
12:38 EDTCLRContinental Resources upgraded to Buy from Neutral at Ladenburg
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12:36 EDTCLRContinental Resources upgraded to Buy from Neutral at Ladenburg
07:09 EDTCLRHayman Capital gives quarterly update on stakes
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May 14, 2015
07:58 EDTCLRShale producers prepared to ramp production back up, WSJ says
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