Continental Resources Announces Redemption Of Balance Of 5% Senior Notes Due 2022
Continental Resources (NYSE: CLR) announced the redemption of its remaining $230,782,000 in 5% Senior Notes due April 22, 2021. The redemption price will equal 100% of the principal amount plus any accrued interest. This marks a significant step in managing debt obligations, as interest on the Notes will cease after the redemption date. The company emphasized that forward-looking statements included in the release are subject to various risks and uncertainties, which could affect future performance.
- Successful debt management through the redemption of $230,782,000 in Senior Notes.
- Elimination of future interest payments will improve cash flow.
- Potential risks associated with completing the redemption as outlined in the cautionary statements.
OKLAHOMA CITY, March 22, 2021 /PRNewswire/ -- Continental Resources, Inc. (NYSE: CLR) ("Continental" or the "Company") announced today that it will redeem the balance of the
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The redemption price for the Notes called for redemption will be equal to
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, 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 2021, the Company will celebrate 54 years of operations. For more information, please visit www.CLR.com.
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Rory Sabino | Kristin Thomas |
Vice President, Investor Relations | Senior Vice President, Public Relations |
405-234-9620 | 405-234-9480 |
Lucy Spaay | |
Investor Relations Analyst | |
405-774-5878 | |
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SOURCE Continental Resources
FAQ
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