October 26, 2005 13:38 ET

Burlington Resources Declares Quarterly Dividend on Common Stock, Restores Share Repurchase Authorization to $1 Billion

HOUSTON--(CCNMatthews - Oct 26, 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. The dividend will be payable on Jan. 10, 2006 to stockholders of record on Dec. 9, 2005.

Additionally, Burlington's board of directors voted to restore the company's share repurchase authorization level to $1 billion. Since resuming share repurchases in late 2000, through the third quarter of 2005 Burlington has repurchased approximately 74.5 million shares for about $2.3 billion at an average cost of $30.45 per share. These totals are adjusted for the 2-for-1 stock split that occurred during 2004.

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.


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.

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