CLR Q1 Results

[dan_s]

$233.9 Million in Net Income or $0.63 per Diluted Share < Compares to my forecast of $0.51 EPS

- $255.1 Million Adjusted Net Income or $0.68 per Diluted Share (Non-GAAP)

287,410 Boe per Day Avg. Production, up 34% over 1Q17, Midpoint of Guidance

- Oil Production up 37% over 1Q17

- Production Would Have Exceeded Guidance without 5,000 Boe per Day Weather Impact

$886 Million in Cash Flow from Operations

- $207 Million in Free Cash Flow (Non-GAAP) Used for Debt Reduction and Cash Build

45% Improvement in Corporate Crude Oil Differential from 1Q17

Bakken: Continues to Deliver Record Results

- Three of the Company's Top Five All-Time 30-Day Rate Bakken Wells Completed in 1Q18, Averaging 2,305 Boe per Day (80% Oil)

- 31 Operated Wells Completed Flowing at an Average 24-Hour IP of 2,079 Boe per Day

SCOOP: Project SpringBoard Announced; Springer Row Development Underway

- Four-Well Triple H Unit Flows at Combined 24-Hour IP of 6,065 Boe per Day (88% Oil)

SCOOP Woodford Oil: Updated Design Lowers Drilling Costs $1 Million per Well

STACK: Shifting Rigs to Accelerate Development of Oil and Liquids-Rich Assets

Project Wildcat: 400 MMcfd of Firm Transportation from SCOOP and STACK

- Provides Additional Access to New Premium Markets; First Flow Starting in June 2018

Fitch Assigned Investment Grade Rating on 04/30/18; S&P Upgrade on 02/12/18