January 15, 2008
Continental Resources to Acquire Oil Assets in North Dakota and Montana
Independent exploration and production firm Continental Resources has announced the execution of a definitive agreement to acquire oil producing properties in North Dakota and Montana from an affiliate of Chesapeake Energy for $60 million.
Continental stated that the Williston basin properties produce approximately 700 barrels of oil equivalent per day. As of December 2007, proved reserves for the properties were estimated at approximately four million barrels of oil equivalent.