2 Nov 2012director interest notice● Neutral
CONTINENTAL RESOURCES, INC SVP, General Counsel & Sec Eissenstat Eric Spencer received 19,738 shares as part of the equity award.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
2 Nov 2012director interest notice● Neutral
CONTINENTAL RESOURCES, INC SVP, Business Development Bayardo Jose A received 2,667 shares as part of the equity award.
2 Nov 2012director interest notice● Neutral
CONTINENTAL RESOURCES, INC SVP, Land Owen Steven K received 14,863 shares as part of the equity award.
2 Nov 2012director interest notice● Neutral
CONTINENTAL RESOURCES, INC SVP, Exploration Stark Jack H received 29,825 shares as part of the equity award.
2 Nov 2012director interest notice● Neutral
CONTINENTAL RESOURCES, INC Vice Chairman of SGI Hume Jeff B received 25,000 shares as part of the equity award.
10 Oct 2012securities registration● Neutral
CONTINENTAL RESOURCES, INC filed the final prospectus for a registered offering.
9 Oct 2012director interest notice● Neutral
CONTINENTAL RESOURCES, INC Sr. VP & CFO Hart John D had 4,166 shares withheld for taxes on vesting stock.
9 Oct 2012quarterly activities report● Neutral
Continental announced a new five-year plan to triple production and proved reserves by year-end 2017, targeting average production of 300,000 Boepd in 2017. It guided to 30-35 percent production growth in 2013 on a $3.4 billion capital budget.
9 Oct 2012director interest notice● Neutral
CONTINENTAL RESOURCES, INC SVP, Exploration Stark Jack H had 5,554 shares withheld for taxes on vesting stock.
9 Oct 2012director interest notice● Neutral
CONTINENTAL RESOURCES, INC Vice Chairman of SGI Hume Jeff B had 6,057 shares withheld for taxes on vesting stock.
21 Sept 2012business combination● Neutral
Continental filed a registration statement offering to swap up to $1.2 billion of the unregistered 5% notes due 2022 (issued August 16, 2012) for identical registered notes, guaranteed by Banner Pipeline. This carries out the exchange promised in the August registration rights agreement; the terms are the same and no new money is raised. The filing also says an earlier exchange offer for the original $800 million of 2022 notes expired August 14, 2012, which closes that open thread, though one unregistered CUSIP from those notes remains outstanding.
14 Sept 2012director interest notice● Neutral
CONTINENTAL RESOURCES, INC SVP, Exploration Stark Jack H sold 10,000 shares.
13 Sept 2012director interest notice● Neutral
CONTINENTAL RESOURCES, INC director Ellis L Mccain sold 6,600 shares at $78.46.
13 Sept 2012director interest notice● Neutral
CONTINENTAL RESOURCES, INC director Mark E Monroe sold 6,000 shares.
23 Aug 2012securities registration● Neutral
CONTINENTAL RESOURCES, INC filed notice of an exempt private placement.
17 Aug 2012substantial holder notice● Neutral
Harold Hamm reported owning 126,196,166 Continental shares, or 68.2% of the outstanding stock, after receiving 2,937,118 shares on August 13, 2012 when Continental's share-paid acquisition of Wheatland Oil, owned 75% by his trust, closed.
17 Aug 2012capital raising announcement● NeutralMajor
The Wheatland acquisition closed on August 13, 2012: Continental received Wheatland's oil and gas properties in Mississippi, Montana, North Dakota and Oklahoma in exchange for 3,916,157 new shares, valued at $313,292,574 at closing. The shares went to Hamm's trust and Hume (75%/25%), who also received registration rights (demand and piggyback, $40 million minimum). This resolves the Wheatland thread; the filing does not state the vote result, and the closing value is below the $340 million unadjusted price.
16 Aug 2012debt financing● NeutralMajor
Continental closed the $1.2 billion add-on of 5.0% notes due 2022 on August 16, 2012, now totalling $2.0 billion with the March notes, guaranteed by Banner Pipeline. It agreed to a registration rights agreement to exchange them for registered notes, aiming to complete within 400 days of issue, with extra interest owed if it misses deadlines. This completes the August pricing and starts a new exchange-offer obligation for the added notes; the filing repeats the plan to repay revolver borrowings.
15 Aug 2012director interest notice● Neutral
CONTINENTAL RESOURCES, INC Vice Chairman of SGI Hume Jeff B received 979,039 shares as part of the equity award.
15 Aug 2012director interest notice● Neutral
CONTINENTAL RESOURCES, INC CEO & Chairman Hamm Harold received 2,937,118 shares as part of the equity award.
14 Aug 2012material agreement● NeutralMajor
On August 13, 2012 Continental priced an additional $1.2 billion of its 5.0% senior notes due 2022 at 102.375% of par (yield to worst 4.624%), under the same March 2012 indenture, bringing the total to $2.0 billion. Proceeds are intended to repay revolver borrowings and for general corporate purposes. This adds to the $800 million of 2022 notes sold in March 2012.
9 Aug 2012quarterly activities report● Neutral
Continental filed its quarterly report on Form 10-Q for the period ended June 30, 2012, covering its second-quarter financial results; 181,134,919 shares were outstanding on August 1, 2012.
9 Aug 2012quarterly activities report● Neutral
Continental reported record second-quarter 2012 production of 94,852 Boepd, up 76 percent year on year, with oil and gas sales of $523.4 million and net income of $405.7 million. It raised 2012 production growth guidance to 57-59 percent and its capital budget to $3.0 billion.
1 Aug 2012material agreement▲ GoodMajor
On July 26, 2012 Continental amended its 2010 bank credit agreement (Union Bank agent), raising commitments from $1.25 billion to $1.5 billion and the borrowing base from $2.25 billion to $2.75 billion. It also loosened terms: the debt-to-EBITDAX limit rose from 3.75 to 4, and the share of reserves pledged as security fell from 85% to 80% (unless a collateral coverage ratio of at least 1.75 is met). This updates the revolver described earlier; the filing's stated prior figures differ from the figures in the earlier context.
26 July 2012quarterly activities report● Neutral
Continental expected second quarter 2012 production of 94,852 Boepd, up 76 percent on a year earlier, and passed 100,000 Boepd in June. It estimated proved reserves at 610 million Boe at June 30, 2012, up 20 percent from year-end 2011.
9 July 2012business combination● NeutralMajor
Continental sent shareholders the final proxy for a special meeting on August 10, 2012 (record date June 29, 2012) to vote on issuing shares to buy Wheatland Oil, which is owned 75% by Harold Hamm's trust and 25% by Jeffrey Hume. The price is $340 million unadjusted, paid in stock; the fee table uses 3,900,424 shares. This continues the Wheatland thread: the vote moved to a special meeting dated after the June 14 annual meeting, which the earlier filings had pointed to as the vote date.
2 July 2012securities registration● Neutral
Continental filed the final prospectus for an offer to exchange up to $800 million of unregistered 5% Senior Notes due 2022 for registered notes with identical terms. The exchange offer expires July 31, 2012, unless extended.
2 July 2012business combination● Neutral
This is an exhibit-only amendment to the April 2012 registration for the 2022 notes exchange, re-filing the auditor's consent. The prospectus is unchanged and omitted, and the filing contains no new business or financial information.
15 June 2012agm notice● Neutral
Shareholders at the June 14, 2012 annual meeting elected three Class III directors (Lon McCain, Mark Monroe and Edward Schafer) and ratified Grant Thornton LLP as auditor for 2012.
6 June 2012director interest notice● Neutral
CONTINENTAL RESOURCES, INC SVP, Operations Muncrief Richard E had 3,172 shares withheld for taxes on vesting stock.