THE CITY OF OKLAHOMA, April 13, 2021 / PRNewswire / – Continental Assets, Inc. (NYSE: CLR) (the “Firm”) right this moment supplied an replace on its manufacturing outcomes for the primary quarter of 2021.

Brand –

February 2021 climate situations had a adverse affect on whole manufacturing within the first quarter of 2021 of round 6 MBeh (60% oil). First quarter 2021 oil manufacturing is anticipated to common round 152 MBopd and first quarter 2021 pure fuel manufacturing is anticipated to common round 935 Mbps / d. As well as, the corporate gives preliminary manufacturing forecasts for the second quarter of 2021 of 160-165 MBopd and 920-940 MMcfpd. The corporate is on monitor to fulfill or exceed its annual manufacturing forecast for the 12 months of 160-165 MMcfpd and 880-920 MMcfpd.

From March 31, 2021, the corporate decreased its whole debt to $ 4.97 billion, with a money steadiness of $ 96 million, i.e. a web debt of $ 4.88 billion (non-GAAP), reflecting a big discount from year-end 2020. The corporate’s current debt discount demonstrates its continued dedication to return on shareholder capital. The corporate plans to cut back whole debt to roughly $ 4 billion or much less by the top of 2021.

The corporate expects to report its first quarter 2021 outcomes on Wednesday April 28, 2021 after the shut of buying and selling on the New York Inventory Alternate. The corporate plans to carry a convention name to debate first quarter 2021 outcomes on Thursday, April 29, 2021 at 12:00 p.m. ET (11:00 a.m. CT). These wishing to take heed to the convention name can achieve this by means of the corporate’s web site at or by phone:

Time and date:

12 p.m. ET, Thursday, April 29, 2021



Intl. compose:


Convention ID:


A replay of the decision might be accessible for 14 days on the Firm’s web site or by dialing:

Studying quantity:


Intl. replay:


Convention ID:


The Firm plans to submit a primary quarter 2021 abstract presentation on its web site at previous to the beginning of its convention name on Thursday, April 29, 2021.

About Continental Assets

Continental Assets (NYSE: CLR) is likely one of the high 10 unbiased oil producers in the US and a pacesetter within the American power renaissance. Located at Oklahoma Metropolis, Continental is the most important tenant and the most important producer of the nation’s main oilfield, the Bakken play of North Dakota and Montana. The Firm additionally holds important positions in Oklahoma, together with his discoveries SCOOP Woodford and SCOOP Springer and the performs STACK. With a give attention to oil exploration and manufacturing, Continental has unlocked the expertise and sources very important for US power independence and our nation’s management within the new international oil market. In 2021, the Firm will have fun 54 years of operations. For extra info, please go to

Cautionary Be aware for the Functions of the Protected Harbor Provisions of the Personal Securities Litigation Reform Act 1995

This press launch incorporates “forward-looking statements” throughout the that means of Part 27A of the Securities Act of 1933 and Part 21E of the Securities Alternate Act of 1934. All statements included on this press launch aside from statements of historic truth, together with, however not restricted to, forecasts or expectations concerning the enterprise of the corporate and statements or info concerning the long run operations of the corporate, efficiency, monetary situation, manufacturing and reserves, schedules, plans, growth schedule, charges of return, budgets, prices, enterprise technique, aims and money flows are forward-looking statements. When used on this press launch, the phrases “may,” “might”, “imagine”, “anticipate”, “intend”, “estimate”, “count on”, “venture”, “Finances”, “goal”, “plan,“ proceed ”,“ potential ”,“ recommendation ”,“ technique ”and related expressions are meant to determine forward-looking statements, though not all forward-looking statements comprise such phrases. ‘identification.

Ahead-looking statements are primarily based on the Firm’s present expectations and assumptions about future occasions and data at present accessible concerning the consequence and timing of future occasions. Whereas the Firm believes these assumptions and expectations to be cheap, they’re inherently topic to quite a few enterprise, financial, aggressive, regulatory and different dangers and uncertainties, most of that are troublesome to foretell and lots of of that are past the Firm’s management. . No assurance will be on condition that these expectations might be appropriate or realized or that the assumptions are appropriate. Dangers and uncertainties embrace, however will not be restricted to, the volatility of commodity costs; the geographic focus of our operations; monetary market and financial volatility; the results of any nationwide or worldwide well being disaster; incapacity to entry vital capital; the dangers and potential liabilities inherent within the drilling and manufacturing of crude oil and pure fuel and the supply of insurance coverage to cowl ensuing losses; difficulties in estimating proved reserves and different measures primarily based on reserves; the decline within the worth of our crude oil and pure fuel properties, leading to impairment costs; our capability to switch confirmed reserves and assist manufacturing; our capability to pay future dividends or to repurchase shares; the supply or price of petroleum tools and companies; lease phrases expiring on undeveloped acreage earlier than manufacturing will be established; our capability to venture future manufacturing, obtain focused leads to drilling and effectively operations and forecast the quantity and timing of growth expenditures; the supply and value of transportation, processing and refining services; legislative and regulatory adjustments affecting our business and operations, together with initiatives associated to hydraulic fracturing and greenhouse fuel emissions; elevated competitors available in the market and business, together with from different fuels and different power sources; and the opposite dangers described partially I, level 1A. Threat components and elsewhere within the firm’s annual report on Type 10-Ok for the 12 months ended December 31, 2020, registration statements and different experiences filed sometimes with the SEC, and different bulletins the Firm makes sometimes.

Readers are cautioned to not place undue reliance on forward-looking statements, which converse solely as of the date on which such assertion is made. If a number of of the dangers or uncertainties described on this press launch happen, or if the underlying assumptions show to be incorrect, the precise outcomes and plans of the Firm may differ materially from these expressed within the forward-looking statements. All forward-looking statements are expressly certified of their entirety by this cautionary assertion. Until in any other case supplied by relevant regulation, the Firm assumes no obligation to appropriate or publicly replace any forward-looking assertion, whether or not on account of new info, future occasions or circumstances after the date of this report. , or in any other case.

Non-GAAP monetary measure

Web debt

Web debt is a non-GAAP measure. We outline web debt as whole debt much less money and money equivalents as decided below US GAAP. Web debt shouldn’t be considered in its place or extra significant than whole debt, essentially the most immediately comparable GAAP measure. Administration makes use of web debt to find out the Firm’s excellent money owed that might not be readily glad with its accessible money and money equivalents. We imagine that this measure is beneficial for analysts and buyers in figuring out the debt place of the corporate as a result of the corporate has the capability and may resolve to make use of a few of its money and money equivalents to cut back its debt.

Investor contacts:

Media contact:

Rory sabino

Kristin thomas

Vice President, Investor Relations

Senior Vice President, Public Relations



[email protected]

[email protected]

Lucy spaay

Investor Relations Analyst


[email protected]

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