XML 86 R7.htm IDEA: XBRL DOCUMENT v2.4.0.8
Organization and Nature of Business
6 Months Ended
Jun. 30, 2013
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Organization and Nature of Business
Organization and Nature of Business
Description of the Company
Continental’s principal business is crude oil and natural gas exploration, development and production with properties in the North, South, and East regions of the United States. The North region consists of properties north of Kansas and west of the Mississippi River and includes North Dakota Bakken, Montana Bakken and the Red River units. The South region includes Kansas and all properties south of Kansas and west of the Mississippi River including the South Central Oklahoma Oil Province (“SCOOP”), Northwest Cana, and Arkoma Woodford plays in Oklahoma. The East region is comprised of undeveloped leasehold acreage east of the Mississippi River.
The Company’s operations are geographically concentrated in the North region, with that region comprising approximately 77% of the Company’s crude oil and natural gas production and approximately 87% of its crude oil and natural gas revenues for the six months ended June 30, 2013. The Company has focused its operations on the exploration and development of crude oil since the 1980s. For the six months ended June 30, 2013, crude oil accounted for approximately 71% of the Company’s total production and approximately 88% of its crude oil and natural gas revenues.