Continental Resources (Ticker: CLR) has delivered the greatest excess return to capital over the 10 year period 2004-14 in the North American Upstream. That is, it has returned 6.73% above its risk adjusted Weighted Average Cost of Capital.
It has been rewarded by the equity market with a $9.7 Billion Market Value premium over Fair Value. This represents a 59% Market Value Premium indicating the equity market is supportive of Continental’s ability to deliver value.
Continental is a top performer due to its strength in all three business dimensions: People, Strategy and Process and their alignment. Founded in 1969, the company has only recently achieved significant success. Through multiple boom periods Continental never emerged as a significant player.