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Continental Resources sells E&P assets to Okla. producer for $68M

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Continental Resources sells E&P assets to Okla. producer for $68M

Continental Resources Inc. closed a sale of 26,000 net acres and interest in more than 400 producing wells in the Arkoma Basin to the White Deer Energy-backed producer Corterra Energy LLC for $68 million.

"With the integration of the Continental acquisition, we have built a premier asset in the liquids-rich portion of the Arkoma Woodford Shale play," said Valerie Mitchell, CEO of Corterra. With the acquisition, Corterra's position has grown to about 70,000 net acres in the Atoka, Coal, Hughes and Pittsburg counties of Oklahoma.

Corterra Energy is an Oklahoma-based exploration and production company operating in the Midcontinent region of Oklahoma. Continental Resources is an oil producer also based in Oklahoma with positions in the Bakken Shale and the SCOOP and STACK plays.