-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, PISDBcf6wwa4JYFNyayzrYnfb9GPFc4Kl9hJGC+SGFPXOpAHM24+7LvBLSEyC9kF ouBW55yqlBFfOwVSB1YujQ== 0001193125-08-023103.txt : 20080207 0001193125-08-023103.hdr.sgml : 20080207 20080207170738 ACCESSION NUMBER: 0001193125-08-023103 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20080204 ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20080207 DATE AS OF CHANGE: 20080207 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CONTINENTAL RESOURCES INC CENTRAL INDEX KEY: 0000732834 STANDARD INDUSTRIAL CLASSIFICATION: CRUDE PETROLEUM & NATURAL GAS [1311] IRS NUMBER: 730767549 STATE OF INCORPORATION: OK FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-32886 FILM NUMBER: 08585971 BUSINESS ADDRESS: STREET 1: 302 NORTH INDEPENDENCE, SUITE 1400 CITY: ENID STATE: OK ZIP: 73702 BUSINESS PHONE: 5802338955 8-K 1 d8k.htm FORM 8-K Form 8-K

 

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of report (Date of earliest event reported): February 7, 2008 (February 4, 2008)

 

 

CONTINENTAL RESOURCES, INC.

(Exact name of registrant as specified in its charter)

Oklahoma

(State or other jurisdiction of incorporation)

 

001-32886   73-0767549
(Commission File Number)   (IRS Employer Identification No.)

 

302 N. Independence

Enid, Oklahoma

  73701
(Address of principal executive offices)   (Zip Code)

(580) 233-8955

(Registrant’s telephone number, including area code)

 

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 

 


Item 7.01 Regulation FD Disclosure

On February 4, 2008, Continental Resources, Inc. issued a press release announcing reserve volumes and the present value of its proved reserves as of December 31, 2007. Additionally, its fourth quarter and year-end earnings press release will be issued before the market opens on Tuesday, February 26, 2008. The press release contained dial-in and website broadcast information regarding a conference call to discuss the earnings press release to be held on Tuesday, February 26, 2008 at 9:00 a.m. Eastern Time.

In accordance with General Instruction B.2 to Form 8-K, the information being filed under Item 7.01 shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing.

 

Item 9.01 Financial Statements and Exhibits

 

  (d) Exhibits

 

Exhibit

Number

  

Description

99.1    Press release dated February 4, 2008

 


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

  

CONTINENTAL RESOURCES, INC.

(Registrant)

Dated: February 7, 2008

   By:    /s/ John D. Hart
       
     

John D. Hart

Vice President, Chief Financial Officer and

Treasurer

 


Exhibit Index

 

Exhibit

Number

  

Description

99.1    Press release dated February 4, 2008
EX-99.1 2 dex991.htm PRESS RELEASE Press Release

Exhibit 99.1

Continental Resources announces 14 percent increase in proved reserves, successful completion of confirmation Trenton/Black River wells and date for release of fourth quarter and year-end 2007 results

Enid, Okla., – February 4/PR Newswire – FirstCall/Continental Resources (NYSE:CLR) Continental Resources today announced proved reserves of 134.6 million barrels of crude oil equivalent as of December 31, 2007, a 14 percent increase over the prior year-end. Future net cash flows from the proved reserves, before income taxes, were $6.9 billion with a present value (discounted at 10 percent) of $3.5 billion.

Crude oil reserves were 104.1 million barrels of crude oil (77 percent of the total equivalent proved reserves as of December 31, 2007) and natural gas reserves were 182.8 Bcf. Proved developed reserves represented 75 percent of the total.

Harold Hamm, Chief Executive Officer and Chairman of the Board of Continental Resources, commented, “Proved reserves additions in our relatively new, unconventional resources plays in the North Dakota Bakken and Oklahoma Woodford Shale areas were the principal sources of reserve additions. I expect those two areas to produce significant proved reserve additions in 2008 as well.”

Trenton/Black River update

Continental Resource’s previously announced Trenton/Black River discovery well in Hillsdale County, Michigan, the McArthur 1-36, is back on production at 260 gross barrels of crude oil per day after the installation of permanent production equipment. Plans are to increase the test rate to 310 gross barrels of crude oil per day in mid February. Continental Resources has estimated gross proved reserves of 824,000 barrels of crude oil equivalent for the discovery well. A second well targeting the Trenton/Black River, the Anspaugh 1-1, has been drilled and produced approximately 500 barrels of crude oil during its initial 10 hour flow period. A third well, the Wessel 1-6, has been drilled and, based upon drilling shows, appears to have encountered the Trenton/Black River formation. Casing has been set on the Wessel 1-6 and completion operations will begin this week. Continental Resources has an 83 percent working interest in each of the three wells. Continental Resources owns leases covering 33,000 net acres prospective for the Trenton/Black River in Hillsdale and surrounding counties in Michigan, and has shot and processed 11 square miles of 3D seismic on the acreage. Continental Resources is currently acquiring permits for an additional five wells and for a 20 square mile 3D seismic acquisition project later this year.

Harold Hamm commented, “The successful completion of these latest wells provides further confirmation that our interpretation and processing techniques used on the 3D seismic are the innovations necessary to properly position wells to encounter the hydrothermal dolomitized reservoir rock.”

Fourth quarter and year-end 2007 earnings release date and conference call information

 


Continental Resources has scheduled its fourth quarter and 2007 year-end earnings press release to be issued before the opening of trading on the New York Stock Exchange on Tuesday, February 26, 2007. Continental Resources will host a conference call on Tuesday, February 26, 2008, at 9:00 a.m. Eastern Time to discuss the earnings press release. Interested parties may listen to the conference call via the Company’s website at www.contres.com or by dialing 888-679-8037. The passcode is 21999378. Participants may pre-register for this conference call. Pre-registration is not mandatory. Callers who pre-register will be given a unique PIN to gain immediate access to the call and bypass the live operator. You may pre-register at any time, including up to and after the call start time, by going to the following URL: https://www.theconferencingservice.com/prereg/key.process?key=PNUVWEYCJ

A replay of the conference call will be available for 30 days on the Company’s website or by dialing 888-286-8010. The passcode is 99066154.

About Continental Resources

Continental Resources is an independent oil and natural gas exploration and production company with operations in the Rocky Mountain, Mid-Continent and Gulf Coast regions of the United States. The Company focuses its operations in large new or developing plays where horizontal drilling, advanced fracture stimulation and enhanced recovery technologies provide the means to economically develop and produce oil and natural gas reserves from unconventional formations. The Company completed its initial public offering in May 2007.

Forward-Looking Information

This press release includes forward-looking information that is subject to a number of risks and uncertainties, many of which are beyond our control. All information, other than historical facts included in this press release, regarding our strategy, future operations, drilling plans, estimated reserves, future production, estimated capital expenditures, projected costs, the potential of drilling prospects and other plans and objectives of management are forward-looking information. All forward-looking statements speak only as of the date of this press release. Although the Company believes that the plans, intentions and expectations reflected in or suggested by the forward-looking statements are reasonable, there is no assurance that these plans, intentions or expectations will be achieved. Actual results may differ materially from those anticipated due to many factors, including oil and natural gas prices, industry conditions, drilling results, uncertainties in estimating reserves, uncertainties in estimating future production from enhanced recovery operations, availability of drilling rigs and other services, availability of crude oil and natural gas transportation capacity, availability of capital resources and other factors listed in reports we have filed or may file with the Securities and Exchange Commission.

CONTACT: Continental Resources, Inc.

Don Fischbach, 580-233-8955

ir@contres.com

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