Merrill Lynch Global Energy Conference

November 7, 2007

Exhibit 99.1

1

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

Company Overview

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

–

$3

billion market capitalization

Founded 1967 by Harold Hamm, Chairman & CEO

–

Harold Hamm, family and management own 82%

Organic growth strategy focused on unconventional resource plays

–

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

–

>500 hz

wells drilled targeting unconventional formations

–

15 operated rigs –

14 drilling horizontal

–

>700,000 net undeveloped acres concentrated in emerging plays

Strong financial position

–

$156 million of bank debt outstanding

–

9M 2007 cash operating margin of $42/Boe ($7/Mcfe) -

$66 NYMEX

3

$94

$145

$327

$482

$616

2004

2005

2006

2007E

2008E

Investment in Asset Base

Capex ($mm)

14,121

19,751

24,707

29,474

2004

2005

2006

Q3 '07

Production (boe/d)

Total = $482mm

$148

$95

$73

$18

$79

$21

$37

$11

Red River Units

MT Bakken

ND Bakken

Other Rockies

Woodford

Other Mid-Con

Land

Other

2007 Capex by Region ($mm)

Total = $616mm

$168

$55

$125

$29

$103

$46

$13

$21

$56

Red River Units

MT Bakken

ND Bakken

Other Rockies

Woodford

Other Mid-Con

Gulf Coast

Land & Seismic

Other

2008 Capex by Region ($mm)

4

Operational Overview

Mid-Continent

Proved reserves: 16.9 MMboe

762 drilling locations

Gulf Coast

Proved reserves: 0.2 MMboe

7 drilling locations

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

46%

Bakken

Field

30%

Other Rockies -

6%

Mid-Continent

14%

Gulf Coast

1%

Avg. daily production (Q3 2007) = 29.5 Mboe/d

Unconventional

79%

1,589 gross wells / 1,772 drilling locations

Rockies

Proved reserves: 101.2 MMboe

1,003 drilling locations

Counties with acreage     holdings are

highlighted

Regional office

Headquarters

Proved Reserves by Geography

Production by Geography

Woodford -

3%

5

Key Drilling Projects

Development (54% 2007 / 41% 2008 capex)

–

Red River Units

•

56% proved reserves / 46% production

–

Montana Bakken Shale

•

20% proved reserves / 26% production

Emerging Plays (37% 2007 / 42% 2008 capex)

–

North Dakota Bakken Shale

•

311,000 net acres

–

Oklahoma Woodford Shale

•

45,000 net acres

Red River

Units

MT

Bakken

ND

Bakken

Woodford

Counties with acreage    

holdings are highlighted

Regional office

Headquarters

Development

Emerging Plays

6

Red River Enhanced Recovery Units

66.5 MMboe

proved reserves

13,524 net boepd

in 3Q 2007

Cedar Hills discovered in 1995,

developed with hz

drilling, 2003

enhanced recovery operations

2007/2008 Plans

–

$148MM 2007E capex

–

$168MM 2008E capex

–

Infield horizontal drilling and re-entry drilling

program to accelerate production and

enhance sweep efficiency

–

Develop Cedar Hills on 320 acre / producer

–

Badlands Plant began in August

Forecast 2009 peak at ~ 19 net Mboe/d

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

Montana Bakken Shale

Significant  unconventional oil

resource play

–

Represents ½

of Montana’s oil

production

–

CLR largest producer (7,637 net boepd)

–

Developed through horizontal drilling

and advanced fracture stimulation

2007/2008 Plans

–

$95MM 2007E capex

–

$55MM 2008E capex

–

Continue 640-acre development

–

Test un-booked upside

•

320-acre infill drilling

•

Expansion of field with      

tri-lateral 640-acre wells

•

Enhanced recovery 

–

Three drilling rigs

CLR  acreage

35 miles

Bakken producer

Williston    Basin

Richland

Co., MT

Bakken

Outline of 

potential

Bakken 

Production

8

Richland County, Montana Bakken

Focus of 320-acre

spacing drilling

Focus of Tri-lateral

drilling

3-D defined

Red River C 

drilling

Sinclair Discovery

300 bopd

9

North Dakota Bakken Shale

CLR  acreage

Bakken producer

35 miles

Williston    Basin

Emerging  unconventional oil

resource play

–

589,000 gross (311,000 net) acres

strategically

located

on

Nesson

Anticline

–

Significant reserve and production growth

potential

–

ND oil prod. highest in 20 years

–

30+ industry-operated rigs

•

Amerada Hess

•

Marathon

•

EOG Resources

•

ConocoPhillips

2007/2008 Plans

–

$73MM 2007E capex

–

$125MM 2008E capex

–

20 net wells in 2008

–

Six drilling rigs (three operated and three

Conoco

Phillips JV)

Outline of

potential

Bakken

production

10

LEGEND

CRI OPERATED

CRI NONOPERATED

NO CRI INTEREST

Normandy

Rocket

Galaxy

Norse

Valhalla

Pontiac

North Dakota Bakken

Focus of 2008 drilling

(consistent economic

results)

Encouraging results using

un-cemented liners and

multi-staged fracs

Testing un-cemented

liner and multi-staged

fracs

3 CLR rigs

3 COP rigs

Dev/Step-outs

1 CLR rig

Bakken, Fryburg

1 CLR rig

Bakken, Winnipegosis

EOG Parshall

Area

11

Oklahoma Woodford Shale

6 miles

Outline of potential

Woodford production

07 CLR Locations

07 Woodford hz

Spud

CLR Producer

Woodford Producer

CLR Acreage

Exploration

Development step-outs/

downspacing

New unconventional gas

resource play

–

30+ industry-operated rigs

•

Newfield

•

Antero

•

Devon

–

45,000 net acres

–

Significant reserve and

production growth potential

–

Caney Shale upside

2007/2008 Plans

–

$79MM 2007E capex

–

$103MM 2008E capex

–

20 net wells in 2008

–

Five drilling rigs

12

ND Bakken and OK Woodford Shale potential

225 MMboe

562

400,000

45,000

OK Woodford

Total

ND Bakken

124 MMboe

486

256,000

311,000

449 MMboe

Reserve potential

Potential

locations (1)

Net boe/well

Net acres

(1) Assumed 640 acre spacing for

ND Bakken and 80 acre for Woodford Shale

34%

400,000

$5,000,000

OK Woodford

ND Bakken

27%

256,000

$4,750,000

$70/bbl & $6/Mcf

Pre-tax IRR

Net boe/well

Estimated

average

D&C

13

Other ongoing and emerging plays

Rockies:

66 scheduled locations   

185,000 net undeveloped acres

Red River, Winnipegosis,

Fryburg, Phosphoria, Lewis

Shale

Midcontinent:

52 scheduled locations 

176,000 undeveloped acres

Morrow-Springer, Atoka,

Mississipian, Hunton,

Barnett Shale, Trenton/Black

River

Gulf Coast:

7 scheduled locations

5,000 net undeveloped acres

366,000 net undeveloped acres 

(~50% of total undeveloped acreage)

2007 discoveries:

MT –

Red River C

ND –

Winnipegosis

SD –

Red River B

MI –

Trenton/Black River

Regional office

Headquarters

Counties with acreage    

holdings are highlighted

14

Financial and Operating Summary

1 

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

2

Operating statistics per Boe sold.  Oil sales volumes are 96 MBbls and 47 MBbls less than oil production volumes for 2006 and 2007, respectively.

Year ended December 31,

2004

2005

2006

9M

2007

Realized oil price ($/Bbl)

$37.12

$52.45

$55.30

$58.92

Realized natural gas price ($/Mcf)

$5.06

$6.93

$6.08

$5.82

Oil production

(boepd)

10,104

15,638

20,493

24,224

Natural gas production

(Mcfd)

24,093

24,674

25,274

31,499

Total production (boed)

14,121

19,751

24,707

29,474

EBITDAX

($

thousands)¹

$116,498

$285,344

$372,115

$332,472

Key Operational Statistics ($/boe)²

Oil and gas revenue

$35.20

$50.19

$52.09

$54.68

Production expense

8.49

7.32

6.99

7.53

Production tax

2.39

2.22

2.48

2.89

G&A (excluding non-cash equity compensation)

2.02

2.43

2.24

1.95

Total cash costs

$12.90

$11.97

$11.71

$12.37

Net operating margin

$22.30

$38.22

$40.38

$42.31

15

Summary

High quality, proved reserve base

–

Crude oil-concentrated, long-lived, high operated %

Track record of drill bit growth at low cost

–

Annual EBITDAX > Capex

over past 3 years

Low risk production growth in Red River Units

–

~6,000 boe/d

expected production growth over next 1+ year                  

(~20% of current daily production for entire company)

Significant future production and reserve growth opportunities in

two large emerging plays –

ND Bakken and OK Woodford Shales

–

Over 1,500 unbooked

locations

Low cash costs with one of highest net operating margins

–

Significant valuation and competitive advantage

16

Appendix

17

Crude oil fundamentals

Growing demand –

–

86 million bopd

current world oil demand

–

Estimated to grow to 88 million bopd

in 2008

–

Non-OECD growing 3.5% per year

•

Chinese economy growing 10%+ per year

•

Only 8% of China’s population currently owns an automobile

•

China’s per capita usage is 2.1 bbls

per year and India 1.9 bbs

per year

•

Versus 16.3 bbls

in South Korea and 26 bbls

in United States

Low surplus capacity –

–

31 million bopd

supplied by OPEC (36%)

–

Spare OPEC capacity estimated at 2 million bopd

(EIA) –

2.3% of world demand

Non-OPEC supply –

–

Forecasted growth not meeting expectations

–

Intensifying resource nationalization

–

Declines in North Sea, Mexico’s Cantarell

Field, North Slope, etc.

18

Crude oil advantages

Good, intrinsic value.

–

On BTU content 6 to 1 with nat

gas. Selling for ~11 to 1 w/ nat

gas, due primarily to

fact raw material for all transportation fuels in world, accounting for 98%.

OPEC capable of managing production levels should demand

prove weaker than expected

Alternative fuels cost $30 to $40 trillion to transition from oil

Easily transported to market –

pipeline infra-structure not required

with inherent delays in construction

Less competitive --

1790 rigs operating only 300 are drilling for oil

–

Acreage costs less

–

Horizontal drilling and frac

technology works well

Secondary re-pressurization EOR techniques yield 2 to 3 times

primary production (example of CHF)