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Title : Highlights From CLR's Investor Update, August, 2017
link : Highlights From CLR's Investor Update, August, 2017

Highlights From CLR's Investor Update, August, 2017

2017 guidance "improved":

• full-year production: up 10% yoy
• CAPEX revised: range of $1.75 billion to $1.95 billion
• cash neutral at annual average of $45 to $51 WTI

non-strategic asset sales of $148 million:

• non-core STACK leasehold, $72.5 millilon for 6,590 acres ($11,000 / acre)
• non-core Arkoma Woodford leasehold, $68 million for 26,000 acres ($2,600 / acre)
• apparently nothing in the Bakken sold

EURs:

• EUR per operated well (does not break out Bakken vs non-Bakken)
• EUR per operated well up over 200% since 2012
• from 470K EUR (2012) to 1.4 million bbls EUR (2016)

Bakken:

• Bakken: 806,000 net reservoir acres
• Bakken: 80% oil; estimated total # liquids -- 90%
• compare with 70% (STACK Meramec oil) and 55% (SCOOP Woodford condensate)

Bakken type curve improves:

• from 980K EUR to 1.1 million EUR base on first six months production
• doubled ROR to 82% compared to 980K boe type curve

2Q17: 19 completions

• average 24-hour IP rate of 1,606 boepd (82% oil)

wells highlighted:

• Holstein Federal 8-25H
• Akron Federal 7-27H
• Garfield Federal 4-5H
• Radermecher 2-22H1
• Brangus North 1-2H2
• Holstein Federal 4-25H
• Garfield Federal 6-5H
• Holstein Federal 13-25H
• Holstein Federal 6-25H
• Radermecher 4-22H2

these top ten record wells in three different formations

• 7 in middle Bakekn
• 1 Three Forks, 1st bench
• 2 in Three Forks, 2nd bench

takeaway capacity: exceeds current production (pipeline, CBR)

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