Private & Confidential

2007 Energy & Utilities Conference

Deutsche Bank Securities

May 31, 2007

Exhibit 99.3

1

Private & Confidential

Forward Looking Statements

This

presentation

includes

forward-looking

information

that

are

subject

to

a

number

of

risks

and

uncertainties,

many

of

which

are

beyond

our

control.

All

information,

other

than

historical

facts

included

in

this

presentation,

regarding

our

strategy,

future

operations,

drilling

plans,

estimated

reserves,

future

production,

estimated

capital

expenditures,

projected

costs,

the

potential

of

drilling

prospects

and

other

plans

and

objectives

of

management

are

forward-looking

information.

All

forward-looking

statements

speak

only

as

of

the

date

of

this

presentation.

Although

the

Company

believes

that

the

plans,

intentions

and

expectations

reflected

in

or

suggested

by

the

forward-

looking

statements

are

reasonable,

there

is

no

assurance

that

these

plans,

intentions

or

expectations

will

be

achieved.

Actual

results

may

differ

materially

from

those

anticipated

due

to

many

factors,

including

oil

and

natural

gas

prices,

industry

conditions,

drilling

results,

uncertainties

in

estimating

reserves,

uncertainties

in

estimating

future

production

from

enhanced

recovery

operations,

availability

of

drilling

rigs

and

other

services,

availability

of

oil

and

natural

gas

transportation

capacity,

availability

of

capital

resources

and

other

factors

listed

in

reports

we

have

filed

or

may

file

with

the

Securities

and

Exchange

Commission.

2

Private & Confidential

Company Overview

Completed IPO on May 14 at $15 (CLR on NYSE)

–

$2.5 billion market capitalization

Founded 1967 by Harold Hamm, Chairman & CEO

Organic growth strategy focused on unconventional resource plays

–

99% of proved reserve adds through drill bit over last 3 years

–

78% of proved reserves located in unconventional resources

–

738,000 net undeveloped acres concentrated in emerging plays

Strong financial position

–

$130 million of bank debt outstanding

–

2007E cash flows to substantially fund $437mm capital budget

Unhedged

asset base

3

Private & Confidential

$94

$145

$327

$437

2004

2005

2006

2007E

Investment in Asset Base

Capex ($mm)

14,121

19,751

24,707

27,911

2004

2005

2006

Q1 '07

Production (Boe/d)

$116

$285

2004

2005

2006

EBITDAX

1

($mm)

1  See page 9 of the prospectus and first quarter 2007 earnings release for a reconciliation of net income to EBITDAX.

$372

Total = $437mm

$151

$128

$10

$101

$4

$32

$7

$4

Red River Units

Bakken Field

Other Rockies

Mid-Continent

Gulf Coast

Land

Seismic

Other

2007 Capex by Region ($mm)

4

Private & Confidential

Mid-Continent

Proved reserves: 16.9 MMBoe

762 drilling locations

Gulf Coast

Proved reserves: 0.2 MMBoe

7 drilling locations

1,589 gross wells / 1,772 drilling locations

Rockies

Proved reserves: 101.2 MMBoe

1,003 drilling locations

Operational Overview

Red River

Units

56%

Bakken

Field

22%

Other

Rockies

8%

Mid-Continent

14%

Gulf Coast

<1%

Total proved reserves (12/31/06) = 118.3 MMBoe

74% PDP /  83% oil / 13.1 R/P / Operate 95% of PV-10%

Unconventional

78%

Red River

Units

45%

Bakken

Field

29%

Other

Rockies

6%

Mid-Continent

17%

Gulf Coast

3%

Avg. daily production (Q1 2007) = 27.9 MBoe/d

Unconventional

74%

Counties

with

acreage

holdings

are

highlighted

Regional office

Headquarters

Proved Reserves by Geography

Production by Geography

5

Private & Confidential

Key 2007 Drilling Projects

Development (50% drilling capex)

–

Red River Units

•

56% proved reserves / 45% production

–

Montana Bakken Shale

•

20% proved reserves / 29% production

Emerging Plays (42% drilling capex)

–

North Dakota Bakken

•

263,000 net undeveloped acres

–

Oklahoma Woodford Shale

•

44,000 net undeveloped acres

Red River

Units

MT

Bakken

ND

Bakken

Woodford

Counties with acreage    

holdings are highlighted

Regional office

Headquarters

Development

Emerging Plays

6

Private & Confidential

Red River Enhanced Recovery Units

66.5 MMBoe

proved reserves

12,599 Boe/d

net production in   

1st quarter 2007

Developed with horizontal drilling

2007 Plans

–

$151MM 2007E capex

–

Infield drilling program to accelerate

production and enhance sweep

efficiency

–

Developing CHNU/CHWU on 320 acre

spacing per producer

–

Developing MPHU-West and MPHU-

South on 640 acre spacing per producer

–

Developing un-swept oil in MPHU and

Buffalo with horizontal re-entry drilling

Cedar Hills North Unit

Cedar Hills West Unit

Buffalo Units

Medicine Pole

Hills West Unit

Medicine Pole

Hills South Unit

Medicine

Pole Hills

Unit

25 Miles

CLR operated units

Others units

7

Private & Confidential

Red River Enhanced Recovery Units

Note: Red River production forecast per 12/31/06 proved reserve report.

0

2,000

4,000

6,000

8,000

10,000

12,000

14,000

16,000

18,000

20,000

Jan-95

Jan-97

Jan-99

Jan-01

Jan-03

Jan-05

Jan-07

Jan-09

Cedar Hills Field

Medicine Pole Hills Field

Buffalo Field

Red River Peak Rate

Forecast 19,668

BOEPD 10/08

Began

conversion to

Injection

Begin infill

program

Net Production

December 31, 2006

8

Private & Confidential

Montana Bakken

Shale

Significant  unconventional oil

resource play

–

Represents ½

of Montana’s oil

production

–

CLR is largest producer (7,685 boepd)

–

Developed through horizontal drilling

and advanced fracture stimulation

2007 Plans

–

$57 million 2007E drilling capex

–

Complete 640-acre development

–

Test un-booked upside

•

320-acre infill drilling

•

North expansion of field with       

tri-lateral 640-acre wells

•

Enhanced recovery 

–

Four drilling rigs

CLR  acreage

35 miles

Bakken producer

Williston    Basin

MT Bakken

21 wells

$57 mm

Outline of 

potential

Bakken

Production

9

Private & Confidential

Richland County, Montana Infills

10

Private & Confidential

North Dakota Bakken

Shale

Emerging  unconventional oil

resource play

–

478,000 gross (263,000 net)

undeveloped acres strategically located

on Nesson

Anticline

–

Significant reserve and production

growth potential

–

23 industry-operated drilling rigs

•

Amerada Hess

•

Conoco

Phillips

•

Marathon

2007 Plans

–

$71 million 2007E drilling capex

–

37 wells on 1280-acre locations in each

of 6 prospect areas

–

Five drilling rigs (two operated and

three Conoco

Phillips JV)

CLR  acreage

35 miles

Bakken producer

Filkowski

1-11H

( 63% WI )

300 bopd

Williston    Basin

Outline of 

potential

Bakken

Production

State Weydahl

44-36H   

( 33% WI )

560 bopd

Nelson Farms

( 13% WI )

350 bopd

State Veeder

44-36H    

( 38% WI )

380 bopd

Lovdahl

1-16H

( 36% WI )

250 bopd

11

Private & Confidential

New unconventional gas

resource play

–

40 industry-operated rigs

•

Newfield

•

Antero

•

Devon

–

44,000 net undeveloped acres

–

Significant reserve and

production growth potential

2007 Plans

–

$82 million 2007E drilling capex

–

123 gross (17 net) wells

–

Four drilling rigs now

•

Fifth to be added

Oklahoma Woodford Shale Project

6 miles

Outline of potential

Woodford production

07 CLR Locations

07 Woodford Horiz

Spud

CLR Producer

Woodford Producer

CLR Acreage

Meyer Trust 1-13H

(34% WI)

3,700 Mcfd

Foster 1-6H

(17% WI)

2,600 Mcfd

Harden 1-20H

(32% WI)

2,500 Mcfd

Holder 1-5H

(52% WI)

675 Mcfd

12

Private & Confidential

Other ongoing and emerging plays

Counties with acreage    

holdings are highlighted

Regional office

Headquarters

Rockies:

66 scheduled locations   

213,500 net undeveloped acres

Red River, Winnipegosis,

Fryburg, Phosphoria, Lewis

Shale

Midcontinent:

52 scheduled locations 

146,000 undeveloped acres

Morrow-Springer, Atoka,

Mississipian, Hunton, New

Albany Shale, Barnett Shale

Gulf Coast:

7 scheduled locations

6,400 net undeveloped acres

365,900 net undeveloped acres 

(50% of total undeveloped acreage)

13

Private & Confidential

2006 Highlights

Grew production by 25% to 24,707 boepd

–

26,503 boepd

for fourth quarter 2006

–

27,911 boepd

for first quarter 2007

Increased EBITDAX

1

by 30% to $372 million

Maintained operating expense discipline

–

Reduced per-unit production expenses (excl. production taxes) by 5%

Drilled 159 productive wells (87% success rate)

Increased scheduled drilling locations to 1,772

Continued to build acreage in our emerging resource plays

1 

See page 9 of the prospectus for a reconciliation of net income to EBITDAX.

14

Private & Confidential

Financial and Operating Summary

1 

See page 9 of the prospectus and first quarter 2007 earnings release for a reconciliation of net income to EBITDAX.

2

Operating statistics for 2006 computed on Boe sold.  Oil sales volumes are 21 MBbls less than oil production volumes for 2006.

Year ended December 31,

2004

2005

2006

Realized oil price ($/Bbl)

$37.12

$52.45

$55.30

Realized natural gas price ($/Mcf)

$5.06

$6.93

$6.08

Oil production

(MBbls)

3,688

5,708

7,480

Natural g

as production

(MMcf)

8,794

9,006

9,225

Total

production

(MBoe)

5,154

7,209

9,018

EBITDAX

($

thousands)

1

$116,498

$285,344

$372,115

Cash flow from operations ($ thousands)

$93,854

$265,265

$417,041

Key Operational

Statistics ($/

Boe)²

Oil and gas revenue

$35.20

$50.1

9

$52.09

Production expense

8.49

7.32

6.99

Production tax

2.39

2.22

2.48

G&A (excluding non

-cash equity compensation)

2.02

2.43

2.24

Total cash costs

$12.90

$11.97

$11.71

EBITDAX

1

$22.60

$

39.58

$41.36

15

Private & Confidential

Summary

High quality, proved reserve base

–

Crude oil-concentrated, long-lived, unhedged

Track record of drill bit growth at low cost

–

Annual EBITDAX > Capex

over past 3 years

Low risk production growth in Red River Units

–

Production growth is 7,936 Boe/d

over next 2 years                                            

(32% of 2006 average daily production for entire company)

Significant future production and reserve growth               

in two emerging unconventional plays

–

Over 1,500 unbooked

locations

Low cash costs with one of highest net operating margins among

E&P companies

–

$41.36 per Boe

($6.89 per Mcfe) EBITDAX for 2006