18 May 2012director interest notice● Neutral
CONTINENTAL RESOURCES, INC director David L Boren sold 3,334 shares at $71.11.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
18 May 2012director interest notice● Neutral
CONTINENTAL RESOURCES, INC CEO & Chairman Hamm Harold bought 100,000 shares on the open market.
3 May 2012quarterly activities report● Neutral
Continental reported first quarter 2012 production of 85,526 Boepd, up 66 percent on a year earlier, with net income of $69.1 million and crude oil and gas sales of $552.3 million. It raised its 2012 capital budget to $2.3 billion from $1.75 billion.
3 May 2012quarterly activities report● Neutral
Continental filed its quarterly report for the period ended March 31, 2012, with 181,028,205 shares outstanding as of April 27, 2012.
27 Apr 2012business combination● Neutral
Continental filed the registration statement promised when it sold the 5% notes due 2022 in March 2012. It offers to swap up to $800 million of the unregistered notes for identical registered ones, with Banner Pipeline guaranteeing them. The new notes have the same terms as those issued March 8, 2012, except they are freely tradable. The exchange expiry date is blank and the filing is not yet effective. This continues the open thread on the 2022 notes exchange.
26 Apr 2012agm notice● Neutral
Continental gave notice of its annual shareholder meeting on June 14, 2012 in Oklahoma City, for holders as of April 17. Items were electing three directors and ratifying Grant Thornton LLP as auditor.
19 Apr 2012director interest notice● Neutral
CONTINENTAL RESOURCES, INC SVP, Exploration Stark Jack H gifted 98,032 shares.
19 Apr 2012quarterly activities report● Neutral
Continental said it expected first-quarter 2012 production to grow about 13% from the prior quarter to roughly 85,000 Boepd, up 65% from a year earlier. It planned to report full earnings on May 2, 2012.
11 Apr 2012director interest notice● Neutral
CONTINENTAL RESOURCES, INC SVP, Business Development Bayardo Jose A received 23,333 shares as part of the equity award.
11 Apr 2012director interest notice● Neutral
Bayardo Jose A became a CONTINENTAL RESOURCES, INC SVP, Business Development and company insider (initial ownership filing).
3 Apr 2012business combination● NeutralMajor
Continental filed a preliminary proxy statement for its June 14, 2012 annual meeting (record date April 17, 2012). Alongside director elections and auditor ratification, shareholders will vote on issuing shares for the Wheatland purchase agreed on March 27, 2012. The fee table values the deal at $340 million, based on 3,900,424 shares at $87.17. The filing is preliminary, and the outstanding share count and mailing dates are left blank. This follows up the earlier Wheatland announcement and the routine meeting notices.
2 Apr 2012capital raising announcement● NeutralMajor
On March 27, 2012 Continental agreed to buy substantially all the oil and gas properties of Wheatland Oil Inc. (in Mississippi, Montana, North Dakota and Oklahoma) for $340 million, paid in Continental shares. Wheatland is owned 75% by CEO Harold Hamm's revocable trust and 25% by President and COO Jeffery Hume, so this is a related-party deal. The share count depends on a 20-day average price, with the price floored at $80.00 and capped at $87.18, giving about 3.9 million to 4.25 million shares before adjustments. It needs approval at the 2012 annual meeting, where the issuance will not count as approved unless a majority of shares held by outsiders (excluding directors, executive officers, Hamm and Hume and their affiliates) vote yes. The disinterested directors approved it on a special committee's recommendation. The press release describes Wheatland's main assets as about 5% of the interest Continental acquired under a 2002 Bakken participation agreement. Hamm and Hume also get registration rights for the shares.
2 Apr 2012agm notice● Neutral
Continental agreed to buy Wheatland Oil's oil and gas assets, mainly about 5% of its Bakken participation interest, for $340 million paid in shares. Wheatland is owned by Harold Hamm's trust (75%) and executive Jeffery Hume (25%), and shareholders were to vote on the share issuance.
28 Mar 2012agm notice● Neutral
Continental agreed to buy Wheatland Oil, owned by Harold Hamm and Jeff Hume, for $340 million in stock, adding 37,900 net Bakken acres. It planned to seek shareholder approval at its 2012 annual meeting.
9 Mar 2012director interest notice● Neutral
CONTINENTAL RESOURCES, INC Sr. V.P. Exploration Stark Jack H exercised stock options for 82,000 shares and disposed of 114,984 shares.
8 Mar 2012debt financing● NeutralMajor
The $800 million 5.0% senior unsecured notes closed under a March 8, 2012 indenture with Wilmington Trust, National Association, guaranteed by Banner Pipeline. They mature September 15, 2022, with interest each March 15 and September 15 starting September 15, 2012, and are redeemable from March 15, 2017. A registered exchange is to be completed within about 400 days. This completes the deal priced on March 5; the filing describes Banner as one of two subsidiaries.
6 Mar 2012material agreement● NeutralMajor
On March 5, 2012 Continental priced $800 million of 5.0% senior unsecured notes due 2022, sold at par in a private placement to initial purchasers led by Merrill Lynch. Part of the proceeds will repay revolver borrowings, with the press release adding general corporate purposes. It is a third bond sale after the 2020 and 2021 notes and again carries a promise to later register the notes.
5 Mar 2012director interest notice● Neutral
CONTINENTAL RESOURCES, INC Sr. VP, Land Owen Steven K sold 2,500 shares at $92.17.
28 Feb 2012director interest notice● Neutral
CONTINENTAL RESOURCES, INC Sr. VP, General Counsel & Sec Eissenstat Eric Spencer sold 3,000 shares at $94.81.
24 Feb 2012director interest notice● Neutral
CONTINENTAL RESOURCES, INC Sr. V.P., Operations Muncrief Richard E received 7,500 shares as part of the equity award.
22 Feb 2012quarterly activities report● Neutral
Continental reported a fourth quarter 2011 net loss of $112.1 million, mainly from unrealized derivative losses, on oil and gas sales of $508.3 million. EBITDAX rose 86 percent to $411.9 million.
17 Feb 2012director interest notice● Neutral
CONTINENTAL RESOURCES, INC Sr. VP, General Counsel & Sec Eissenstat Eric Spencer had 3,817 shares withheld for taxes on vesting stock.
25 Jan 2012quarterly activities report▼ Bad
Continental reported fourth quarter 2011 production of 75,219 Boepd, up 57 percent on a year earlier, and year-end 2011 proved reserves up 39 percent to 508 MMBoe.
23 Jan 2012substantial holder notice● Neutral
Bert H. Mackie, H. Thomas Hamm reported a CONTINENTAL RESOURCES, INC shareholding of 14,687,501 shares (8.10% of votes) in a periodic institutional filing.
23 Jan 2012director interest notice● Neutral
CONTINENTAL RESOURCES, INC Sr. V.P. Exploration Stark Jack H gifted 12,000 shares.
6 Jan 2012director interest notice● Neutral
CONTINENTAL RESOURCES, INC director H R Jr. Sanders sold 1,300 shares at $73.23.
3 Jan 2012director interest notice● Neutral
CONTINENTAL RESOURCES, INC director Grant Robert J gifted 350 shares.
30 Dec 2011director interest notice● Neutral
CONTINENTAL RESOURCES, INC President and COO Hume Jeff B gifted 1,875 shares.
22 Dec 2011director interest notice● Neutral
CONTINENTAL RESOURCES, INC director Ellis L Mccain sold 6,667 shares at $66.10.
20 Dec 2011director interest notice● Neutral
CONTINENTAL RESOURCES, INC Sr. V.P. Exploration Stark Jack H exercised stock options for 6,000 shares and disposed of 6,000 shares.