4 Nov 2010quarterly activities report▼ Bad
CONTINENTAL RESOURCES, INC reported quarterly revenue of $91.4 million and a net loss of $45.0 million for the period ended 2010-12-31.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
2 Nov 2010securities registration● Neutral
CONTINENTAL RESOURCES, INC filed the final prospectus for a registered offering.
20 Oct 2010business combination● Neutral
Continental filed a registration statement offering to swap its $200 million 7 3/8% notes due 2020, issued April 5, 2010, for identical notes registered with the SEC. This is the exchange offer flagged earlier; the terms are unchanged apart from the notes becoming freely tradable, and it does not raise new money or change shareholder ownership.
13 Oct 2010director interest notice● Neutral
Owen Steven K became a CONTINENTAL RESOURCES, INC Sr VP - Land and company insider (initial ownership filing).
7 Oct 2010director interest notice● Neutral
CONTINENTAL RESOURCES, INC Sr. V.P. Exploration Stark Jack H had 6,216 shares withheld for taxes on vesting stock.
7 Oct 2010director interest notice● Neutral
CONTINENTAL RESOURCES, INC Sr. VP & CFO Hart John D had 4,734 shares withheld for taxes on vesting stock.
7 Oct 2010director interest notice● Neutral
CONTINENTAL RESOURCES, INC President and COO Hume Jeff B had 6,216 shares withheld for taxes on vesting stock.
29 Sept 2010director interest notice● Neutral
CONTINENTAL RESOURCES, INC director Mark E Monroe sold 10,000 shares at $46.37.
29 Sept 2010director interest notice● Neutral
CONTINENTAL RESOURCES, INC President and COO Hume Jeff B exercised stock options for 74,000 shares and disposed of 104,621 shares.
23 Sept 2010director interest notice● Neutral
CONTINENTAL RESOURCES, INC Sr. V.P. Exploration Stark Jack H exercised stock options for 120,750 shares and disposed of 157,526 shares.
17 Sept 2010debt financing● NeutralMajor
The $400 million 7 1/8% notes due April 1, 2021 closed on September 16, 2010 under an indenture with Wilmington Trust FSB. Like the 2020 notes they are unsecured, guaranteed by Banner Pipeline and rank behind secured bank debt. Interest is paid each April 1 and October 1 starting April 1, 2011, and an exchange offer for registered notes is due within about 400 days. The filing says the revolving credit facility was repaid with the proceeds.
14 Sept 2010material agreement● NeutralMajor
On September 13, 2010 Continental priced $400 million of 7 1/8% senior unsecured notes due 2021, sold at par to initial purchasers (Banc of America Securities, J.P. Morgan Securities, RBS Securities). Proceeds are to repay the revolving credit facility borrowings and pre-fund part of its accelerated capital program. This is a second bond sale after the $200 million issue in April.
10 Sept 2010drilling progress report▲ GoodMajor
Continental said its own internal estimate shows proved reserves up 21% to 310 million barrels of oil equivalent at mid-2010, from 257 million at year-end 2009, mainly from North Dakota Bakken drilling. It also reported 13 operated Bakken wells completed since July 1 averaging 1,070 barrels of oil equivalent per day in one-day tests, plus a Montana Elm Coulee well at 827. Ryder Scott did not review the mid-year figure but will prepare the year-end report.
3 Sept 2010director interest notice● Neutral
CONTINENTAL RESOURCES, INC director H R Jr. Sanders sold 2,000 shares at $43.72.
27 Aug 2010director interest notice● Neutral
CONTINENTAL RESOURCES, INC CEO & Chairman Hamm Harold bought 10,000 shares on the open market at $39.12.
17 Aug 2010director interest notice● Neutral
CONTINENTAL RESOURCES, INC Sr. Vice President, Operations Muncrief Richard E bought 1,000 shares on the open market at $42.66.
17 Aug 2010director interest notice● Neutral
CONTINENTAL RESOURCES, INC CEO & Chairman Hamm Harold bought 40,000 shares on the open market at $42.63.
6 Aug 2010quarterly activities report● Neutral
CONTINENTAL RESOURCES, INC reported quarterly revenue of $219.4 million and net income of $39.1 million for the period ended 2010-09-30.
4 Aug 2010quarterly activities report● Neutral
CONTINENTAL RESOURCES, INC reported quarterly revenue of $219.4 million and net income of $39.1 million for the period ended 2010-09-30.
2 Aug 2010substantial holder notice● Neutral
Bert H. Mackie, H. Thomas Hamm reported a CONTINENTAL RESOURCES, INC shareholding of 14,732,501 shares (8.70% of votes) in a periodic institutional filing.
16 July 2010securities registration● Neutral
CONTINENTAL RESOURCES, INC filed an automatic shelf registration, effective immediately as a well-known seasoned issuer.
7 July 2010debt financing▲ GoodMajor
On June 30, 2010 Continental replaced its bank credit agreement with a new one led by Union Bank, N.A. The borrowing base rises to $1.3 billion from $1.0 billion and maturity extends to July 1, 2015 from April 2011. Commitments stay at $750 million, with maximum size raised to $2.5 billion, and at least 85% of proven reserves secure the loans. Covenants require a total debt to EBITDAX ratio of no more than 3.75 to 1.
3 June 2010director interest notice● Neutral
CONTINENTAL RESOURCES, INC Sr. V.P. Land Luttrell Tom E had 3,069 shares withheld for taxes on vesting stock.
3 June 2010director interest notice● Neutral
CONTINENTAL RESOURCES, INC Sr. Vice President, Operations Muncrief Richard E had 3,069 shares withheld for taxes on vesting stock.
26 May 2010director interest notice● Neutral
CONTINENTAL RESOURCES, INC director Mcnabb John T II received 10,000 shares as part of the equity award.
17 May 2010director interest notice● Neutral
CONTINENTAL RESOURCES, INC Sr. V.P. Land Luttrell Tom E sold 28,208 shares at $49.00.
6 May 2010quarterly activities report● Neutral
CONTINENTAL RESOURCES, INC reported quarterly revenue of $280.0 million and net income of $101.7 million for the period ended 2010-06-30.
5 May 2010quarterly activities report● Neutral
CONTINENTAL RESOURCES, INC reported quarterly revenue of $280.0 million and net income of $101.7 million for the period ended 2010-06-30.
7 Apr 2010debt financing● NeutralMajor
The $200 million 7 3/8% notes due October 1, 2020 closed on April 5, 2010 under an indenture with Wilmington Trust FSB as trustee. They are unsecured, guaranteed by subsidiary Banner Pipeline, rank behind the secured revolving credit facility, and carry restrictions on extra debt, dividends and asset sales. The company must also register an exchange offer for the notes within about 400 days.
5 Apr 2010material agreement● NeutralMajor
Continental agreed on March 30, 2010 to sell $200 million of 7 3/8% senior unsecured notes due 2020 to initial purchasers (Banc of America Securities, RBS Securities, J.P. Morgan Securities), priced to yield 7.5%. Per the filing, proceeds were used to partly repay its revolving credit facility, so this swaps bank borrowing for long-term bond debt.