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Continental Resources, Inc. (CLR)

  • Fri, Mar. 13, 3:58 PM
    • Whiting Petroleum (WLL +3.1%) spikes on a Bloomberg report suggesting Exxon Mobil (XOM -0.2%) could be interested in the company; trading is now halted for volatility.
    • Continental Resources (CLR -4.8%), Hess (HES +0.4%) and Statoil (STO +1.4%) also are reportedly looking at WLL, according to the report, and WLL has set up a data room for potential buyers to evaluate the company’s financial information and asked them to submit bids next week.
    • WLL is the largest producer in North Dakota’s Bakken Shale, and the four rumored suitors already are among the 10 largest holders of acreage in the play.
    • WLL had been down all day on an earlier report that it was considering selling off pieces rather than the whole company.
  • Nov. 8, 2012, 8:28 AM
    Continental Resources (CLR) announces agreements to purchase Bakken producing and undeveloped assets for $650M and to sell its producing crude oil and natural gas properties and supporting assets in its East Region for $125M. The Bakken property includes leasehold of ~12K net acres and production of ~6,500 boe/day.
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  • Aug. 10, 2012, 4:48 PM
    Continental Resources (CLR) shareholders ratify the purchase of Wheatland Oil assets. The purchase covers all leases and wells in a defined portion of the Bakken play pursuant to a participation agreement effective January 1, 2002. The transaction is expected to be completed on August 13 by the transfer of approximately 3.9M shares of Continental Resources common stock to the owners of Wheatland Oil.
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  • Mar. 28, 2012, 7:43 AM
    Continental Resources (CLR) buys oil fields in North Dakota and Montana from Wheatland Oil for $340M. To help fund the deal, the company plans to issue up to 4.25M shares of common stock in a price range of $80-$87.18 per share, pending shareholder approval.
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Company Description
Continental Resources Inc is an independent crude oil and natural gas exploration and production company with properties in the North, South and East regions of the United States.