Continental Resources Announces Suspension Of Quarterly Dividend And Production Update
Continental Resources, Inc. (CLR)
Last continental resources, inc. earnings: 2/26 04:15 pm
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US:NYSE Investor Relations:
clr.com/investors
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Source: PR Newswire
OKLAHOMA CITY, April 7, 2020 /PRNewswire/ -- In response to the demand destruction attributable to COVID-19, Continental Resources, Inc. (NYSE: CLR) ("Continental" or the "Company") today announced the following:"Continental will continue to take decisive action to maximize cash flow generation, accomplish cost savings initiatives and prioritize the strength of our balance sheet," said Bill Berry, Chief Executive Officer. "Global crude oil and product demand is estimated to have been impacted by 30% due to COVID-19. Accordingly, we are reducing our production for April and May 2020 in a similar range." Furthermore, the Board of Directors has made the decision to suspend the quarterly dividend until further notice. This is part of the Company's proactive strategy to manage cash flow in a challenging commodity price environment. Cautionary Statement for the Purpose of the "Safe Harbor" Provisions of the Private Securities Litigation Reform Act of 1995 This press release includes "forwa
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