BURLINGTON RESOURCES INC.
NYSE : BR

BURLINGTON RESOURCES INC.

July 27, 2005 12:26 ET

Burlington Resources Declares Increased Quarterly Dividend on Common Stock

HOUSTON--(CCNMatthews - Jul 27, 2005) -

The board of directors of Burlington Resources Inc. (NYSE:BR) today declared a quarterly dividend of 10 cents per share on the company's common stock, which represents a 1.5 cent or approximately 18 percent increase in the dividend. The new quarterly rate results in an annual dividend of 40 cents per share of common stock, compared to the previous annual dividend of 34 cents per share. This increase, the third in three years, follows dividend increases of 13 percent in 2004 and 9 percent in 2003. The dividend is payable on Oct. 11, 2005 to stockholders of record on Sept. 9, 2005.

"Our primary goal as a company is to enhance shareholder value, and Burlington's continuing operational and financial performance once again enables us to return additional capital to shareholders through this dividend increase," said Bobby S. Shackouls, chairman, president and chief executive officer. "During the second quarter, we also stepped up the rate at which we are repurchasing our stock, which is another form of returning capital to shareholders."

During the first half of 2005, Burlington repurchased more than nine million shares of common stock for approximately $444 million.

Burlington Resources ranks among the world's largest independent oil and gas companies, and holds one of the industry's leading positions in North American natural gas reserves and production. Headquartered in Houston, Texas, the company conducts exploration, production and development operations in the U.S., Canada, the United Kingdom, Africa, China and South America. For additional information see the Burlington Resources Web site at www.br-inc.com.

FORWARD-LOOKING STATEMENTS

This press release may contain projections and other forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. Any such projections or statements reflect the company's current views with respect to future events and financial performance. No assurances can be given, however, that these events will occur or that such projections will be achieved and actual results could differ materially from those projected. A discussion of important factors that could cause actual results to differ materially from those projected is included in the company's periodic reports filed with the Securities and Exchange Commission.

Contact Information

  • Burlington Resources Inc., Houston
    Financial: John Carrara, 713-624-9548
    or
    Media: James Bartlett, 713-624-9354
    Web site: www.br-inc.com