Continental Resources Founder and Executive Chairman Harold Hamm Purchases 4,736,264 Shares of Company Stock; Adopts 10b5-1 Purchase Plan
OKLAHOMA CITY, June 29, 2020 /PRNewswire/ -- Continental Resources, Inc. (NYSE: CLR) ("Continental" or the "Company") today announced that its Founder and Executive Chairman, Harold Hamm, purchased 4,736,264 shares of Continental common stock on the open market from June 22, 2020 to June 25, 2020, at market prices. This brings Mr. Hamm's total holdings, as of June 25, 2020, to 289,659,385 shares, or approximately 79.3% of the Company's total common shares outstanding at April 30, 2020.
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In addition, Mr. Hamm entered into a 10b5-1 plan pursuant to Rule 10b5-1 under the Securities Exchange Act of 1934, as amended ("Rule 10b5-1"). It is Mr. Hamm's intention to acquire shares of the Company's common stock consistent with certain timing, volume and price limitations. The 10b5-1 trading plan was entered into on June 25, 2020.
"I firmly believe Continental's current share price reflects an uncommon value as the global pandemic has negatively impacted worldwide crude oil demand. Recent purchases underscore my confidence in the Company's continued operational excellence and strong financial performance. Continental is poised to deliver significant shareholder value for many years to come and I believe there is no management team more aligned with shareholders than Continental," said Harold Hamm, Executive Chairman.
About Continental Resources
Continental Resources (NYSE: CLR) is a top 10 independent oil producer in the U.S. and a leader in America's energy renaissance. Based in Oklahoma City, Continental is the largest leaseholder and the largest 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 SCOOP Woodford and SCOOP Springer discoveries and the STACK plays. With a focus on the exploration and production of oil, Continental has unlocked the technology and resources vital to American energy independence and our nation's leadership in the new world oil market. In 2020, the Company will celebrate 53 years of operations. For more information, please visit www.CLR.com.
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SOURCE Continental Resources
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