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Continental Resources Inc Announces Agreements To Purchase Bakken Assets For $650 Million And To Divest East Region Assets For $125 Million

Wednesday, 7 Nov 2012 06:58pm EST 

Continental Resources Inc announced that it has entered into an agreement to acquire certain Bakken producing and undeveloped properties for $650 million. The property includes leasehold of approximately 120,000 net acres, primarily in Divide and Williams counties, North Dakota, and production of approximately 6,500 barrels of oil equivalent per day (Boepd). In addition, Continental announced it has entered into an agreement to sell producing crude oil and natural gas properties and supporting assets in East Region for cash proceeds of $125 million. The East Region primarily includes properties east of the Mississippi River, including the Illinois Basin and the state of Michigan, among other areas. Both transactions are expected to close prior to December 31, 2012. 

Company Quote

-3.12 -2.01%
11 Jul 2014