Continental Resources Announces Redemption Of 8 1/4 % Senior Notes Due 2019
OKLAHOMA CITY, June 3, 2014
OKLAHOMA CITY, June 3, 2014 /PRNewswire/ --Continental Resources, Inc. (NYSE:
CLR) ("Continental" or the "Company") announced today that it will redeem all
of its outstanding 8 ¼% Senior Notes due October 1, 2019 (the "2019 Notes") on
July 11, 2014, the redemption date.
The redemption price for the 2019 Notes will be equal to the sum of the
principal amount of the 2019 Notes outstanding, the make-whole amount
calculated in accordance with the terms of the 2019 Notes and the related
indenture under which the 2019 Notes were issued, and the accrued and unpaid
interest on the 2019 Notes up to the redemption date of July 11, 2014. The
aggregate principal amount of the 2019 Notes outstanding is $300,000,000.
Additional information concerning the terms and conditions of the redemption
are fully described in the Notice distributed to holders of the 2019
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
Section27A of the Securities Act of 1933 and Section21E 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, statements or
information concerning the Company's future operations, performance, financial
condition, production and reserves, schedules, plans, timing of development,
returns, budgets, costs, business strategy, objectives, and cash flow, are
forward-looking statements. When used in this press release, the words
"could," "may," "believe," "anticipate," "intend," "estimate," "expect,"
"project," "budget," "plan," "continue," "potential," "guidance," "strategy,"
and similar expressions are intended to identify forward-looking statements,
although not all forward-looking statements contain such identifying words.
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 that the
expectations reflected in the forward-looking statements are reasonable and
based on reasonable assumptions, no assurance can be given that such
expectations will be correct or achieved or that the assumptions are accurate.
When considering forward-looking statements, readers should keep in mind the
risk factors and other cautionary statements described under Part I, Item1A.
Risk Factors included in the Company's Annual Report on Form 10-K for the year
ended December31, 2013, registration statements and other reports filed from
time to time with the Securities and Exchange Commission ("SEC"), and other
announcements the Company makes from time to time.
The Company cautions readers that these forward-looking statements are subject
to all of the risks and uncertainties, most of which are difficult to predict
and many of which are beyond the Company's control, incident to the
exploration for, and development, production, and sale of, crude oil and
natural gas. These risks include, but are not limited to, commodity price
volatility, inflation, lack of availability of drilling and production
equipment and services and transportation infrastructure, environmental risks,
lack of availability and security of computer-based systems, drilling and
other operating risks, regulatory changes, the uncertainty inherent in
estimating crude oil and natural gas reserves and in projecting future rates
of production, cash flows and access to capital, the timing of development
expenditures, and the other risks described under Part I, Item1A. Risk
Factors in the Company's Annual Report on Form 10-K for the year ended
December31, 2013, registration statements and other reports filed from time
to time with the SEC, and other announcements the Company makes from time to
Readers are cautioned not to place undue reliance on forward-looking
statements, which speak only as of the date hereof. 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. This cautionary statement should also
be considered in connection with any subsequent written or oral
forward-looking statements that the Company, or persons acting on its behalf,
Except as otherwise required by applicable law, the Company disclaims any duty
to update any forward-looking statements to reflect events or circumstances
after the date of this press release.
About Continental Resources
Continental Resources (NYSE: CLR) is a Top 10 independent oil producer in the
United States. Based in Oklahoma City, Continental is the largest leaseholder
and 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 recently discovered SCOOP play and the Northwest Cana play. With
a focus on the exploration and production of oil, Continental is on a mission
to unlock the technology and resources vital to American energy independence.
In 2014, the Company will celebrate 47 years of operation. For more
information, please visit www.CLR.com.
Investor Contact: Media Contact:
John Kilgallon Kristin Miskovsky
Vice President, Investor Relations Vice President, Public Relations
SOURCE Continental Resources
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