India, April 8 -- Continental Resources (CLR) said the company's Board of Directors has decided to suspend the quarterly dividend until further notice. In response to the demand destruction due to COVID-19, Continental said the company will continue to take decisive action to maximize cash flow generation, accomplish cost savings initiatives and prioritize the strength of balance sheet.
Bill Berry, CEO, said: "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."
Published by HT Digital Content Services with permission from RTT News....