Company Report
Continental Resources corporate profile
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Report summary
Continental Resources scale and core positioning in its two primary plays, the Bakken and SCOOP-STACK-Cana, drives a low pre-dividend corporate level cash break-even. The competive break-even coupled with a focus on free cash flow results in low reinvestment rates and the potential for substantial discretionary cash flow. The resulting surge in cash flow creates options for further corporate actions beyond targeted debt reduction, announcement share repurchases, and base dividend requirements. M&A or an increase in organic investment appear possible. Despite an attractive cash flow profile, Continental does trail peers in terms of quantified emission reduction targets. Perception as a laggard due to unambitious targets threatens an otherwise compelling outlook.
Table of contents
- Competitive corporate break-even
- Low reinvestment rate
- Capital allocation and growth potential
- Absent emission targets
- SWOT Analysis
- Strategic objectives
- Key targets
- Market performance
- Williston basin
- Anadarko basin
- Powder River basin
-
Production
- Hedging
- Debt reduction
- Shareholder returns
- Surplus cash flow
- Investment and M&A outlook
- Key Play Reports
- Asset Reports
Tables and charts
This report includes 19 images and tables including:
- CLR: share price performance
- Base case NPV10 by basin (US$ billions)
- Upstream EV vs. WM upstream NPV10 by region
- Market premium / discount to WM upstream NPV10 (base case)
- Entitlement production by region and hydrocarbon split
- Tight oil production scale
- Tight oil peer group financial health comparison
- Debt reduction tempo by price scenario
- Free cash flow allocation
- Upstream capex profile
- Reinvestment rate by price scenario
- Continental reported Scope 1 emission intensity
- Self-reported Scope 1 GHG emission intensity
- Tight oil emission reporting and reduction targets
- Base price assumptions (nominal terms)
- High price assumptions (nominal terms)
- Low price assumptions (nominal terms)
- Valuation assumptions
What's included
This report contains:
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