Continental Resources Announces Upgrade To Investment Grade Rating From Standard & Poor's
OKLAHOMA CITY, Aug. 30, 2013 /PRNewswire/ -- Continental Resources, Inc. (NYSE: CLR) ("Continental" or the "Company") announced today that Standard & Poor's Rating Services ("S&P") has upgraded the Company to investment grade. S&P increased Continental's long-term corporate credit rating and senior unsecured debt to BBB- from BB+.
Harold G. Hamm, Continental's Chairman and Chief Executive Officer, commented, "It is exciting to see Continental achieve one of our long-time corporate goals of reaching investment grade status. Our track record of exceptional oil growth with a disciplined financial approach has driven very strong earnings and cash flow. Our premier assets in the Bakken provide us with low-risk, high-return production growth for many years to come, which are now complemented by our development and production growth in our SCOOP discovery. Congratulations to our entire team."
About Continental Resources
Continental Resources (NYSE: CLR) is a Top 10 independent oil producer in the United States. Based in Oklahoma City, Continental is the largest leaseholder and producer in the nation's premier oil field, the Bakken play of North Dakota and Montana. The company also has significant positions in Oklahoma, including its recently discovered SCOOP play and the Northwest Cana play. With a focus on the exploration and production of oil, Continental is on a mission to unlock the technology and resources vital to American energy independence. In 2013, the company will celebrate 46 years of operation. For more information, please visit www.CLR.com.
SOURCE Continental Resources