CONTINENTAL RESOURCES, INC. (NYSE:CLR) Files An 8-K Other EventsItem 8.01 – Other Events.
On February16, 2018, Continental Resources, Inc. (the “Company”) reached a settlement in connection with the case filed in November 2010 in the District Court of Blaine County by Billy J. Strack and Daniela A. Renner as trustees of certain named trusts and on behalf of other similarly situated parties against the Company. Under the settlement, if approved, the Company will make payments and incur costs associated with the settlement of approximately $59.6million. This amount will be included in the “Accrued liabilities and other” and “General and administrative expenses” line items in its December31, 2017 financial statements to be included in the Form 10-K to be filed by the Company in connection with the 2017 fiscal year.
About CONTINENTAL RESOURCES, INC. (NYSE:CLR)
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. The North region consists of properties north of Kansas and west of the Mississippi River and includes North Dakota Bakken, Montana Bakken and the Red River units. The South region includes Kansas and all properties south of Kansas and west of the Mississippi River, including various plays in the South Central Oklahoma Oil Province (SCOOP), Sooner Trend Anadarko Canadian Kingfisher (STACK), Northwest Cana and Arkoma Woodford areas of Oklahoma. The Company’s estimated proved reserves are approximately 1,230 million barrels of crude oil equivalent (MMBoe) with estimated proved developed reserves of over 520 MMBoe. The East region includes undeveloped leasehold acreage east of the Mississippi River. The Company’s crude oil production is sold to crude oil refining companies at market centers.