OKLAHOMA CITY, Dec. 4, 2020 /PRNewswire/ -- Continental
Resources, Inc. (NYSE: CLR) ("Continental" or the "Company")
announced today that it will redeem $400 million in aggregate
principal amount, representing approximately 63% of the
approximately $631 million in
aggregate principal amount currently outstanding, of its 5% Senior
Notes due 2022 (the "Notes") on January 5,
2021, the redemption date for the Notes.
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The redemption price for the Notes called for redemption will be
equal to 100.00% of the principal amount, plus accrued and unpaid
interest, if any, to, but excluding, the redemption date in
accordance with the terms of the Notes and the indenture under
which the Notes were issued. The Notes to be redeemed will be
selected in accordance with the procedures of The Depository Trust
Company. Interest on the portion of the Notes selected for
redemption will cease to accrue on and after the redemption
date.
Additional information concerning the terms and conditions of
the redemption is contained in the notice distributed to holders of
the Notes. Beneficial holders with any questions about the
redemption should contact their respective brokerage firm or
financial institution.
Cautionary Statement for the Purpose of the "Safe Harbor"
Provisions of the Private Securities Litigation Reform Act of
1995
This press release includes "forward-looking statements" within
the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934. All statements
included in this press release other than statements of historical
fact, including, but not limited to, forecasts or expectations
regarding the Company's business and statements or information
concerning the Company's future operations, performance and
financial condition, are forward-looking statements. When used in
this press release, the word "will" is intended to identify
forward-looking statements, although not all forward-looking
statements contain this identifying word.
Forward-looking statements are based on the Company's current
expectations and assumptions about future events and currently
available information as to the outcome and timing of future
events. Although the Company believes these assumptions and
expectations are reasonable, they are inherently subject to
numerous business, economic, competitive, regulatory and other
risks and uncertainties, most of which are difficult to predict and
many of which are beyond the Company's control. No assurance can be
given that such expectations will be correct or achieved or that
the assumptions are accurate. The risks and uncertainties include,
but are not limited to, the ability to complete the redemption and
the other risks described under Part I, Item 1A. Risk Factors and
elsewhere in the Company's Annual Report on Form 10-K for the year
ended December 31, 2019, Quarterly
Reports on Form 10-Q for the quarters ended March 31, 2020,
June 30, 2020 and September 30, 2020, registration statements and
other reports filed from time to time with the SEC, and other
announcements the Company makes from time to time.
Readers are cautioned not to place undue reliance on
forward-looking statements, which speak only as of the date on
which such statement is made. Should one or more of the risks or
uncertainties described in this press release occur, or should
underlying assumptions prove incorrect, the Company's actual
results and plans could differ materially from those expressed in
any forward-looking statements. All forward-looking statements are
expressly qualified in their entirety by this cautionary statement.
Except as otherwise required by applicable law, the Company
undertakes no obligation to publicly correct or update any
forward-looking statement whether as a result of new information,
future events or circumstances after the date of this report, or
otherwise.
About Continental Resources
Continental Resources (NYSE: CLR) is a top 10 independent oil
producer in the U.S. Lower 48 and a leader in America's energy
renaissance. Based in Oklahoma
City, Continental is the largest leaseholder and the largest
producer in the nation's premier oil field, the Bakken play of
North Dakota and Montana. The Company also has significant
positions in Oklahoma, including
its SCOOP Woodford and SCOOP Springer discoveries and the STACK
plays. With a focus on the exploration and production of oil,
Continental has unlocked the technology and resources vital to
American energy independence and our nation's leadership in the new
world oil market. In 2020, the Company will celebrate 53 years of
operations. For more information, please visit
www.CLR.com.
Investor
Contact:
|
Media
Contact:
|
Rory
Sabino
|
Kristin
Thomas
|
Vice President,
Investor Relations
|
Senior Vice
President, Public Relations
|
405-234-9620
|
405-234-9480
|
Rory.Sabino@CLR.com
|
Kristin.Thomas@CLR.com
|
|
|
Lucy
Guttenberger
|
|
Investor Relations
Analyst
|
|
405-774-5878
|
|
Lucy.Guttenberger@CLR.com
|
|
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SOURCE Continental Resources