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Continental Resources' CEO Discusses Q2 2012 Results - Earnings Call Transcript

Continental Resources, Inc. (CLR)

Q2 2012 Earnings Call

August 9, 2012 10:00 AM ET


Harold Hamm – Chairman and CEO

Rick Bott – President and COO

John Hart – SVP, CFO and Treasurer

Richard Muncrief – SVP, Operations

Jack Stark – SVP, Exploration

Steve Owen – SVP, Land

Jeff Hume – Vice Chairman, Strategic Growth Initiatives


Subash Chandra – Jefferies

Leo Mariani – RBC

Pearce Hammond – Simmons

Brian Corales – Howard Weil

Hsulin Peng – Robert W Baird

Noel Parks – Ladenburg Thalmann

Eli Kantor – IBERIA Capital

Rudy Hokanson – Barrington Research

Andrew Coleman – Raymond James



Good day, ladies and gentlemen, and welcome to the Continental Resources Second 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 President and COO, Rick Bott, and Chief Financial Officer, John Hart. After their remarks, we will open the floor to questions. Other members of management are also available to answer your questions.

Now, I will turn the call over to Mr. Hamm.

Harold Hamm

Good morning, everyone. Thank you for joining us for Continental’s second quarter earnings call. Two years ago, we met with many of you here in Oklahoma City at our first Continental Resources’ Investor Day. At that conference, we unveiled our five-year plan to triple production in proved reserves by year-end 2014. At that time, some of you may have been skeptical that we could do that, but we will meet that production goal by early- to mid-2013, 18 to 24 months ahead of that plan. And we moved the company headquarters from Enid, Oklahoma to Oklahoma City in the meantime.

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