Innovation through Exploration

Continental continued to increase crude oil and natural gas production in the second quarter of 2009. Average daily production was 37,347 Boepd for the second quarter of 2009, a 3% increase over the second quarter of 2008. Total production for the second quarter of 2009 was 3.4 MMBoe, compared with 2.9 MMBoe for the second quarter of 2008. Production grew despite the continued reduction in drilling activity. We operated four drilling rigs as of August 6, 2009, the date of our earnings release, compared with 32 operated rigs in October 2008 and 13 at the beginning of the first quarter of 2009.

The following table presents average daily production from our principal operating areas for the quarters ended September 30, 2009, June 30, 2009, and September 30, 2008.

(Boe per day) Q3 2009       Q2 2009       Q3 2008
Red River Units 13,942       14,092       13,375
Montana Bakken 5,581       6,105       6,187
North Dakota Bakken 6,943       6,286       3,444
Other Rockies 1,874       1,928       2,275
Arkoma Woodford 4,260       4,235       2,627
Other Mid-Continent 4,338       4,179       4,895
Gulf Coast 446       522       494
  Total 37,384       37,347       33,297

For 2008 as a whole, we increased production 13% to a total of 12 million equivalent barrels, with an exit rate of 37,954 Boepd for December, 27% above our December 2007 exit rate.

  Year ended December 31
  2008       2007
Average daily production:                  
Oil (Bopd) 24,993       23,832
Natural gas (Mcfd) 46,861       31,599
Oil equivalents (Boepd) 32,803       29,099
Continental Resources
Mailing Address
PO Box 1032
302 N. Independence
Enid, OK 73702
(580) 233-8955 Office
(800) 256-8955 Toll Free
(580) 548-5253 Fax