Continental Resources Inc. has a market cap of $11.39 billion; its shares were traded at around $66.98 with a P/E ratio of 41.3 and P/S ratio of 18.2. Hedge Fund Gurus that owns CLR: Stanley Druckenmiller of Duquesne Capital Management, LLC, Steven Cohen of SAC Capital Advisors. Mutual Fund and Other Gurus that owns CLR: Richard Aster Jr of Meridian Fund, John Keeley of Keeley Fund Management, Jeremy Grantham of GMO LLC.
This is the annual revenues and earnings per share of CLR over the last 10 years. For detailed 10-year financial data and charts, go to 10-Year Financials of CLR.
Highlight of Business Operations:The aggregate market value of the voting and non-voting common equity held by non-affiliates of the registrant as of June 30, 2010 was approximately $1.4 billion, based upon the closing price of $44.62 per share as reported by the New York Stock Exchange on such date.
As of December 31, 2010, our estimated proved reserves were 364.7 MMBoe, with estimated proved developed reserves of 140.4 MMBoe, or 38% of our total estimated proved reserves. Crude oil comprised 62% of our total estimated proved reserves as of December 31, 2010. For the year ended December 31, 2010, we generated crude oil and natural gas revenues of $948.5 million and operating cash flows of $653.2 million. For the year and quarter ended December 31, 2010, daily production averaged 43,318 Boe per day and 48,034 Boe per day, respectively. This represents growth of 16% and 27% as compared to the year and quarter ended December 31, 2009, when daily production averaged 37,324 Boe per day and 37,747 Boe per day, respectively.
The following table summarizes our total estimated proved reserves, PV-10 and net producing wells as of December 31, 2010, average daily production for the three months ended December 31, 2010 and the reserve-to-production index in our principal regions. Our reserve estimates as of December 31, 2010 are based primarily on a reserve report prepared by our independent reserve engineers, Ryder Scott Company, L.P (Ryder Scott). In preparing its report, Ryder Scott evaluated properties representing approximately 94% of our PV-10, 97% of our proved crude oil reserves, and 94% of our proved natural gas reserves as of December 31, 2010. Our internal technical staff evaluated the remaining properties. Our estimated proved reserves and related future net revenues, PV-10 and Standardized Measure at December 31, 2010 were determined using the 12-month unweighted arithmetic average of the first-day-of-the-month commodity prices for the period of January 2010 through December 2010, without giving effect to derivative transactions, and were held constant throughout the life of the properties. These prices were $79.43 per Bbl for crude oil and $4.38 per MMBtu for natural gas ($71.92 per Bbl for crude oil and $5.07 per Mcf for natural gas net of location and quality differentials).
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