![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() 1 Bakken Oil Resource Continues to Grow 24 billion barrels of oil potentially recoverable • >5X 2008 USGS estimate 14,700 square-mile continuous oil accumulation More than 2,750 hz wells completed since Jan. 2000 Industry adding 1,800 wells per year (~150 active rigs) CLR leasehold strategically located within thermal kitchen Oil migration CLR acreage Bakken Three Forks MATURE BAKKEN “KITCHEN” MIGRATED CONVENTIONAL OIL FIELDS 200 Miles Fault Zone MARGINALLY MATURE BAKKEN Exhibit 99.4 |
![]() 2 Basin-Centered Oil Field |
![]() 3 Bakken horizontal 2000 -2009 Bakken horizontal 1985-2000 Bakken vertical completion CLR Acreage: Substantially De-Risked CLR leasehold • 864,559 net acres • 72% is de-risked and in development mode 21 Operated rigs • 4 rigs drilling ECO-Pads ® • 2 rigs on HBP units • 15 rigs on first wells per unit 2010 Spuds |
![]() 4 Fracture Stimulations - Driving the Expansion # of Frac Stages |
![]() 5 More Stages Improve EURs # of Frac Stages 518 MBOE MODEL |
![]() 6 IPs Correlate with Higher EURs 30-Day IP, BOEPD 518 MBOE MODEL |
![]() 7 ND Bakken Economics 2011 CWC: $6.5MM EUR: 518 MBoe * Net of differentials. |
![]() 8 Maintaining ND Drilling Efficiencies |
![]() ![]() ![]() ![]() ![]() ![]() ![]() 9 ECO-Pad ® Development Reduced surface footprint Est. 10% less D&C cost per well Increased lateral length results in harvesting more reservoir 1,280-acre spacing unit #1 200’ 200’ 1,280-acre spacing unit #2 set-back set-back |
![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ECO-Pad Development Upper Bakken shale Lower Bakken shale Middle Bakken Three Forks 10,000’ below surface Lodgepole 1,320’ 660’ 1,320’ 660’ Dual-zone development • 8 Potential wells per 1,280-acre unit (4 Middle Bakken and 4 Three Forks) 4.1 MMBoe total EUR • 518 MBoe EUR X 8 wells 10 |
![]() Arthur-Hegler ECO-Pad results Three Forks pair: Hegler 1-13H (83% WI): 1,195 Boepd @ 1400 psi on 22 choke Arthur 1-12H (94% WI): 849 Boepd @ 1150 psi on 22 choke Middle Bakken pair: Hegler 2-13H (83% WI): 1,203 Boepd @ 2200 psi on 18 choke Arthur 2-12H (94% WI): 1,103 Boepd @ 2350 psi on 18 choke Total IP: 4,359 Boepd 11 First ECO-Pad Project Completion ECO-Pad producer ECO-Pad drilling or waiting on completion Arthur-Hegler ECO-Pad |
![]() Continental’s ECO-Pad Technology 12 |
![]() Continental’s ECO-Pad Technology 13 |
![]() Continental’s ECO-Pad Technology |
![]() 15 Top 11 CLR-operated completions (Boepd): Bonney 2-3H (43% WI): Roadrunner 1-15H (56% WI): Rollefstad 2-3H (73% WI): Medicine Hole 2-27H (43% WI): Mack 2-2H (74% WI): Ravin 1-1H (59% WI): Hegler 2-13H (83% WI): Howard 1-5H (52% WI): Hegler 1-13H (83% WI): Arthur 2-12H (94% WI): Bjella 1-24H (41% WI): Top 7 non-operated CLR completions (Boepd): Missouri 5302-44-35H: HA-Rolfsrud 152-96-1720H-1: USA 153-96-24D-13-1H: Hagey 12-13H: Patten 1-33-34H 1: Harstad 44-9H: Hanson 11-12H: Strong 3Q10 ND Bakken Wells 12 Miles CLR-operated Non-operated CLR wells 1,765 1,722 1,714 1,702 1,471 1,300 1,203 1,201 1,195 1,103 1,029 1,976 1,639 1,489 1,350 1,260 1,223 1,041 |
![]() ND Improving Production Rates 16 Boepd 150 122 205 185 209 201 603 466 3Q:623 2Q:454 |
![]() CLR: #1 Bakken Drilling Program * Source: Industry reports at Oct. 4, 2010. 17 21 14 13 9 6 5 Rigs |
![]() Mid-Year 2010 Reserves: 310 MMBoe ND Bakken 43.4% MT Bakken 12.4% Red River Units 17.9% Anadarko Woodford 5.0% Other 5.0% Arkoma Woodford 16.3% 18 Bakken: 56% of CLR Reserves |
![]() Bakken: Tremendous Growth Potential 19 247 net wells drilled 3,394 PUD and potential net wells to be drilled (320-acre spacing, dual reservoir) 7% 13% 640s 320s 1,663 PUD and potential net wells to be drilled on CLR acreage (640-acre spacing, dual reservoir) |
![]() Bakken Operating Challenges Rig and frac crew availability • CLR currently has 3 dedicated frac crews: 2 Pumpco, 1 Schlumberger • Two more frac crews with allocated dates each month • Costs are increasing: 2011 CWC $6.5MM Takeaway capacity from the Williston Basin • Gas gathering systems stressed; some curtailment of initial production rates on new wells • Additional facilities under construction: Bear Paw (Oneok), Hiland, and others • Oil pipeline and railing capabilities expanding rapidly 20 |
![]() Growth in Takeaway Capacity 21 |
![]() 22 Bakken continues to grow through technology CLR holds the #1 lease position CLR is the clear leader in the hottest oil play in the United States • 3,394 PUD and potential net locations yet to drill (320-acre spacing, dual reservoir) CLR Bakken: Key Takeaways |
![]() Questions? 23 |