27 Dec 2021director interest notice● Neutral
CONTINENTAL RESOURCES, INC Vice Chairman of SGI Jeff B Hume gifted 5,400 shares.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
22 Dec 2021asset acquisition disposition● NeutralMajor
The Permian acquisition from the Parsley Energy sellers closed on December 21, 2021, in line with the expected date. The company paid about $2.74 billion in cash at closing, after adjustments and applying a $325 million deposit, funded from cash on hand, credit facility borrowing and senior notes. Financial statements and pro forma figures for the acquired business are to be filed later by amendment.
13 Dec 2021director interest notice● Neutral
CONTINENTAL RESOURCES, INC President and COO Jack H Stark gifted 6,000 shares.
7 Dec 2021director interest notice● Neutral
CONTINENTAL RESOURCES, INC director Harold Hamm bought 117,020 shares on the open market.
3 Dec 2021director interest notice● Neutral
CONTINENTAL RESOURCES, INC director Harold Hamm bought 250,000 shares on the open market.
29 Nov 2021director interest notice● Neutral
CONTINENTAL RESOURCES, INC Sr. VP, CFO & CSO John D Hart sold 9,000 shares at $50.32.
22 Nov 2021debt financing● NeutralMajor
On November 22, 2021 the company closed the $1.6 billion note sale priced November 9: $800 million of 2.268% notes due November 15, 2026 and $800 million of 2.875% notes due April 1, 2032, issued under an indenture with Wilmington Trust. The notes are unsecured and guaranteed by Banner, CLR Asset Holdings and TMRC (three of six subsidiaries). They carry a make-whole call before November 15, 2023 (2026 notes) and January 1, 2032 (2032 notes), a $25 million cross-default, and a cap on secured debt at 15% of adjusted consolidated net tangible assets. This completes the notes offering that was priced earlier in the month.
18 Nov 2021director interest notice● Neutral
CONTINENTAL RESOURCES, INC director Ellis L Mccain bought 10,000 shares on the open market at $48.15.
12 Nov 2021director interest notice● Neutral
CONTINENTAL RESOURCES, INC director Harold Hamm bought 108,500 shares on the open market.
10 Nov 2021material agreement● NeutralMajor
On November 9, 2021 the company priced a private placement of $800 million of 2.268% senior notes due 2026 and $800 million of 2.875% senior notes due 2032, expected to close November 22, 2021. The press release says proceeds will fund part of the Pioneer (Parsley) acquisition price and offering costs, with general corporate purposes, possibly including debt repayment, if the deal does not close. This is the first stated piece of the debt financing for the Permian purchase.
9 Nov 2021director interest notice● Neutral
CONTINENTAL RESOURCES, INC director John T Mcnabb II bought 2,000 shares on the open market at $45.71.
5 Nov 2021material agreement● NeutralMajor
On November 1, 2021 the company agreed to buy Jagged Peak Energy LLC (which owns Parsley SoDe Water LLC) and other Permian Basin assets from Parsley Energy entities, with Pioneer Natural Resources party for limited purposes, for $3.25 billion in cash. The assets include about 92,000 net acres in Ward, Winkler, Reeves and Pecos Counties, Texas, about 50,000 net royalty acres, about 55,000 barrels of oil equivalent per day (about 70% oil) and water infrastructure. A 10% deposit has been paid. The company expects to fund it with cash, credit facility borrowing, and debt securities and/or term loans, and expects closing around December 21, 2021, subject to conditions. This is a new Permian position alongside the Bakken and Oklahoma assets.
4 Nov 2021quarterly activities report● Neutral
CONTINENTAL RESOURCES, INC reported quarterly revenue of $1341.4 million and net income of $369.3 million for the period ended 2021-09-30.
3 Nov 2021quarterly activities report● Neutral
CONTINENTAL RESOURCES, INC reported quarterly revenue of $1341.4 million and net income of $369.3 million for the period ended 2021-09-30.
3 Nov 2021debt financing▲ GoodMajor
On October 29, 2021 the company signed a new unsecured $1.7 billion revolving credit agreement, maturing October 2026 (extendable under its terms), with MUFG Union Bank as agent. It replaces the $1.5 billion facility from April 2018 that was due in April 2023, which was terminated with no prepayment penalties. The facility can grow by up to $2.3 billion more, keeps the 0.65 to 1.00 net debt to capitalization limit and a $100 million cross-default, and is guaranteed by the same three subsidiaries.
29 Oct 2021director interest notice● Neutral
CONTINENTAL RESOURCES, INC SVP, GC, CRO & Secretary James R Webb received 118,993 shares as part of the equity award.
29 Oct 2021quarterly activities report● Neutral
CONTINENTAL RESOURCES, INC reported quarterly revenue of $1341.4 million and net income of $369.3 million for the period ended 2021-09-30.
19 Oct 2021director interest notice● Neutral
CONTINENTAL RESOURCES, INC SVP, Land Robert Hagens had 10,311 shares withheld for taxes on vesting stock.
17 Sept 2021director interest notice● Neutral
CONTINENTAL RESOURCES, INC director Harold Hamm bought 261,709 shares on the open market.
17 Sept 2021director interest notice● Neutral
CONTINENTAL RESOURCES, INC director Mark E Monroe gifted 12,000 shares.
2 Sept 2021director interest notice● Neutral
James R Webb became a CONTINENTAL RESOURCES, INC SVP, GC, CRO & Secretary and company insider (initial ownership filing).
3 Aug 2021quarterly activities report● Neutral
CONTINENTAL RESOURCES, INC reported quarterly revenue of $1341.4 million and net income of $369.3 million for the period ended 2021-09-30.
2 Aug 2021quarterly activities report● Neutral
CONTINENTAL RESOURCES, INC reported quarterly revenue of $1341.4 million and net income of $369.3 million for the period ended 2021-09-30.
21 June 2021director interest notice● Neutral
CONTINENTAL RESOURCES, INC director Harold Hamm bought 76,486 shares on the open market.
17 June 2021director interest notice● Neutral
CONTINENTAL RESOURCES, INC director Harold Hamm bought 270,000 shares on the open market.
11 June 2021director interest notice● Neutral
CONTINENTAL RESOURCES, INC SVP, GC, CRO & Secretary Eric Spencer Eissenstat sold 20,000 shares at $35.93.
21 May 2021director interest notice● Neutral
CONTINENTAL RESOURCES, INC director Harold Hamm received 20,618 shares as part of the equity award.
21 May 2021director interest notice● Neutral
CONTINENTAL RESOURCES, INC director Mark E Monroe received 6,873 shares as part of the equity award.
21 May 2021agm notice● Neutral
CONTINENTAL RESOURCES, INC shareholders approved the routine matters put to a vote at the company's annual meeting (director elections, auditor ratification, and the executive-pay advisory vote).
21 May 2021director interest notice● Neutral
CONTINENTAL RESOURCES, INC director John T Mcnabb II received 6,873 shares as part of the equity award.