Continental Resources (CLR) investor relations material

Executive summary

• Net income for Q2 2025 was $734 million, up from $134 million in Q2 2024, driven by favorable derivative gains and stable production volumes.

• Revenues declined 14% year-over-year to $1.63 billion due to lower crude oil prices, partially offset by higher natural gas prices and increased oil volumes.

• Production volumes increased 2% year-over-year, with crude oil output up 3% and natural gas volumes stable.

• Operating expenses rose due to more producing wells and higher workover activity, while G&A expenses fell on lower incentive compensation.

• The company remains privately held, with no publicly traded shares outstanding.

Financial highlights

• Q2 2025 net income: $734 million; six months ended June 30, 2025: $1.05 billion.

• Q2 2025 revenues: $2.11 billion (including $451 million derivative gain); six months: $3.72 billion.

• Q2 2025 EPS not disclosed; net income attributable to controlling interests: $727 million.

• Cash flow from operations for six months: $2.27 billion; cash on hand at June 30, 2025: $569 million.

• Total assets at June 30, 2025: $23.3 billion; total equity: $13.3 billion.

Outlook and guidance

• 2025 capital expenditures budgeted at $2.8 billion, with $1.6 billion invested in the first half.

• Management expects to fund capital spending from operating cash flows, with flexibility to adjust if commodity prices change.

• The One Big Beautiful Bill Act is expected to provide favorable tax benefits, though the full impact is still being evaluated.