Continental Resources (CLR)
Q1 2012 Earnings Call
May 03, 2012 10:00 am ET
John D. Hart - Chief Financial Officer, Principal Accounting Officer, Senior Vice President and Treasurer
Jeffery B. Hume - President and Chief Operating Officer
Jack H. Stark - Senior Vice President of Exploration
Eli Kantor - Jefferies & Company, Inc., Research Division
Noel A. Parks - Ladenburg Thalmann & Co. Inc., Research Division
Stephen P. Shepherd - Simmons & Company International, Research Division
Marshall H. Carver - Capital One Southcoast, Inc., Research Division
Andrew Coleman - Raymond James & Associates, Inc., Research Division
Hsulin Peng - Robert W. Baird & Co. Incorporated, Research Division
Good day, ladies and gentlemen, and welcome to the Continental Resources First Quarter 2012 Earnings Conference Call. This conference call is being recorded. Today's call will include projections, assumptions and guidance that are considered forward-looking statements. Actual results will likely differ from those contained in our forward-looking statements. Please refer to the company's filings with the Securities and Exchange Commission for additional information concerning these statements and risks.
Chairman and CEO, Harold Hamm, will begin this morning's call; followed by CFO, John Hart; and President and COO, Jeff Hume. After their remarks, we will have a question-and-answer period. Other members of management are available to answer your question.
Now I will turn the call over to Mr. Hamm. Please, sir.
John D. Hart
Thank you, Harold. Strong cash flow growth was a key first quarter highlight. We reported EBITDAX of $455 million for the first quarter of 2012, a 69% increase over EBITDAX for the first quarter of 2011.