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Continental Resources to offer $1B in Senior Notes

Continental Resources

Subject to market conditions, Continental Resources Inc. (NYSE: CLR) intends to offer $1.0 billion in aggregate principal amount of new senior notes in a private placement to eligible purchasers.

Continental intends to use the net proceeds of this offering of the notes to repay a portion of its borrowings outstanding under its revolving credit facility and for general corporate purposes.

Drilling in the Bakken shale

The Oklahoma City-based petroleum liquids producer’s leasehold in the Bakken sits around 1.1 million net acres, making the company the largest leaseholder in the Bakken.

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