Organization and Nature of Business

3 Months Ended

Mar. 31, 2020

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Organization and Nature of Business

Organization and Nature of Business

Continental Resources, Inc. (the “Company”) was 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. Additionally, the Company pursues the acquisition and management of perpetually owned minerals located in certain of its key operating areas. 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 all properties south of Nebraska and west of the Mississippi River including various plays in the SCOOP and STACK areas of Oklahoma. The East region is primarily comprised of undeveloped leasehold acreage east of the Mississippi River with no significant drilling or production operations.

The Company's operations in the North region comprised 58% of its crude oil and natural gas production and 69% of its crude oil and natural gas revenues for the three months ended March 31, 2020. The Company's principal producing properties in the North region are located in the Bakken field of North Dakota and Montana. The Company's operations in the South region comprised 42% of its crude oil and natural gas production and 31% of its crude oil and natural gas revenues for the three months ended March 31, 2020. The Company's principal producing properties in the South region are located in the SCOOP and STACK areas of Oklahoma.

For the three months ended March 31, 2020, crude oil accounted for 56% of the Company’s total production and 90% of its crude oil and natural gas revenues.