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Organization and Nature of Business
3 Months Ended
Mar. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Organization and Nature of Business
Organization and Nature of Business
Continental Resources, Inc. (the “Company”) was originally formed in 1967 and is incorporated under the laws of the State of Oklahoma. The Company's principal business is crude oil and natural gas exploration, development and production with properties primarily located 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 various plays in the South Central Oklahoma Oil Province (“SCOOP”), Northwest Cana, and Arkoma areas of Oklahoma. The East region is comprised of undeveloped leasehold acreage east of the Mississippi River with no current drilling or production operations.
The Company’s operations are geographically concentrated in the North region, with that region comprising 72% of the Company’s crude oil and natural gas production and 78% of its crude oil and natural gas revenues for the three months ended March 31, 2015. The Company's principal producing properties in the North region are located in the Bakken field of North Dakota and Montana. In recent years, the Company has significantly expanded its activity in the South region with its discovery and announcement of the SCOOP play in Oklahoma. The South region now comprises 28% of the Company's crude oil and natural gas production and 22% of its crude oil and natural gas revenues for the three months ended March 31, 2015.
The Company has focused its operations on the exploration and development of crude oil since the 1980s. For the three months ended March 31, 2015, crude oil accounted for 69% of the Company’s total production and 84% of its crude oil and natural gas revenues.