OKLAHOMA CITY, Dec. 4, 2017 /PRNewswire/ -- Continental
Resources, Inc. (NYSE: CLR) ("Continental" or the "Company")
announced today the pricing of its private placement of
$1 billion of new 4 3/8% senior
unsecured notes due 2028. The notes were sold at par. The
offering is expected to close on December 8,
2017, subject to customary closing conditions. Continental
intends to use the net proceeds from this offering to repay in full
and terminate its $500 million term
loan and to repay a portion of the borrowings outstanding under its
revolving credit facility.
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The securities offered have not been registered under the
Securities Act of 1933, as amended (the "Securities Act"), or any
state securities laws and unless so registered, the securities may
not be offered or sold in the United
States except pursuant to an exemption from, or in a
transaction not subject to, the registration requirements of the
Securities Act and applicable state securities laws. The senior
unsecured notes are expected to be eligible for trading by
qualified institutional buyers under Rule 144A and non-U.S. persons
under Regulation S.
This press release is being issued pursuant to Rule 135c under
the Securities Act, and is neither an offer to sell nor a
solicitation of an offer to buy the notes or any other securities
and shall not constitute an offer to sell or a solicitation of an
offer to buy, or a sale of, the notes or any other securities in
any jurisdiction in which such offer, solicitation or sale is
unlawful.
About Continental Resources
Continental Resources (NYSE: CLR) is a top 15 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, SCOOP Springer and SCOOP Sycamore 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 2017, the Company will celebrate 50 years
of operations.
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, expectations regarding the
completion of the notes offering and the use of proceeds therefrom
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 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 risks described under Part I, Item 1A.
Risk Factors and elsewhere in the Company's Annual Report on Form
10-K for the year December 31, 2016,
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.
Investor
Contact:
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Media
Contact:
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J. Warren
Henry
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Kristin
Thomas
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Vice President,
Investor Relations & Research
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Senior Vice
President, Public Relations
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405-234-9127
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405-234-9480
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Warren.Henry@CLR.com
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Kristin.Thomas@CLR.com
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Alyson L.
Gilbert
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Manager, Investor
Relations
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405-774-5814
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Alyson.Gilbert@CLR.com
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SOURCE Continental Resources