Key Developments: Continental Resources Inc (CLR)
22 Aug 2014
Latest Key Developments (Source: Significant Developments)
Continental Resources Inc Announces Agreements To Purchase Bakken Assets For $650 Million And To Divest East Region Assets For $125 Million
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. Full Article
Continental Resources Inc Issues FY 2012, 2013 EBITDA Guidance In Line With Analysts' Estimates-Conference Call
Continental Resources Inc announced that for fiscal 2012, it expects EBITDAX to be somewhere between $1.8-$1.9 billion. For fiscal 2013, it expects EBITDAX to be $2.4-$2.6 billion. According to I/B/E/S Estimates, analysts are expecting the Company to report EBITDA of $1.8 billion for fiscal 2012; EBITDA of $2.4 billion for fiscal 2013. Full Article
- Continental Resources Inc, one of the largest oil producers in North Dakota's Bakken shale formation, announced a two-for-one stock split on Monday.