One-Page Deal Sheet
Continental Resources Sells Illinois Basin Asset
Not Disclosed Continental Resources, Inc.
Announced Date
November 12,2012
Close Date
December 31,2012
Transaction Type
Property
Enterprise Value (EV)($MM)
125
Asset/Basin:
{"Illinois Basin"}
Location
Calculated Metrics( EV/Category)
Country
United States
State
Michigan
Production Production
Calculated Metrics( EV/Category)
$/ Flowing
Transaction Details: Subscribe to see
Continental announced it has entered into an agreement to sell its producing crude oil and natural gas properties and supporting assets in its 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.
Production from the properties included in the sale agreement averaged approximately 1,100 Boepd for the three month period ended September 30, 2012.
"We are divesting non-core, conventional assets and re-investing the proceeds in an attractive acquisition…
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