Continental Resources, Inc. Announces Pricing of Initial Public Offering
May 14 2007 - 10:24PM
PR Newswire (US)
ENID, Okla., May 14 /PRNewswire-FirstCall/ -- Continental
Resources, Inc. (NYSE:CLR) today announced the pricing of its
initial public offering of 29,500,000 shares of its common stock at
$15.00 per share. The shares are listed on the New York Stock
Exchange under the symbol CLR. Continental Resources, Inc. is
selling 8,850,000 shares of common stock in this offering and
Harold G. Hamm, the Chairman and Chief Executive Officer and
principal shareholder of Continental Resources, Inc. is selling
20,650,000 shares of common stock in this offering. In addition,
Mr. Hamm has granted the underwriters a 30-day option to purchase
up to an additional 4,425,000 shares of common stock at the same
price to cover over allotments. The offering is expected to close
on May 18, 2007, subject to customary closing conditions.
Continental Resources, Inc. intends to use the net proceeds that it
will receive from the sale of the 8,850,000 shares in the offering
to repay outstanding indebtedness under its revolving credit
facility. (Logo:
http://www.newscom.com/cgi-bin/prnh/20070501/DATU029LOGO) J.P.
Morgan Securities Inc. and Merrill Lynch, Pierce, Fenner &
Smith Incorporated are acting as joint book-running managers of the
offering. Citi, UBS Securities LLC, Deutsche Bank Securities, Inc.
and Raymond James & Associates are acting as co-managers of the
offering. A written prospectus relating to these securities may be
obtained from J.P. Morgan Securities Inc., 4 Chase Metrotech
Center, CS Level, Brooklyn, New York, 11245, Attention: Prospectus
Department; Fax: 718-242-8002; Phone: 718-242-8003; or Merrill
Lynch, Pierce, Fenner & Smith Incorporated, 4 World Financial
Center, Attention: Prospectus Department, New York, New York 10080;
212-449-1000. A registration statement relating to these securities
has been declared effective by the United States Securities and
Exchange Commission. This press release shall not constitute an
offer to sell or the solicitation of an offer to buy nor shall
there be any sale of these securities in any state or other
jurisdiction in which such offer, solicitation, or sale would be
unlawful prior to registration or qualification under the
securities laws of any such state or other jurisdiction. About
Continental Resources, Inc. Continental Resources, Inc. is an
independent oil and gas and exploration and production company with
operations primarily in the Rocky Mountain and Mid-Continent
regions of the United States. Continental Resources, Inc. P.O. Box
1032 302 N. Independence Enid, Oklahoma 73702 For Investor
Relations inquiries contact: John Hart Tel: + 1 (580) 233-8955 For
Media inquiries contact: Don Fischbach Tel: + 1 (580) 233-8955
http://www.newscom.com/cgi-bin/prnh/20070501/DATU029LOGO
http://photoarchive.ap.org/ DATASOURCE: Continental Resources, Inc.
CONTACT: investor relations, John Hart, or media, Don Fischbach,
both of Continental Resources, Inc., +1-580-233-8955 Web site:
http://www.contres.com/
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