Continental buys Chesapeake properties
Continental Resources is to acquire producing oil properties in North Dakota
and Montana from an affiliate of Chesapeake Energy for $60 million.
The Williston basin properties currently produce about 700 barrels of oil
equivalent per day, and had proven reserves of about 4 million boe as of
December last year, the company said in a statement.
"This group of oil properties is high quality and will fit well with our
existing Williston Basin assets. We will assume operations on all of the 32
gross (29 net) wells. The average daily gross production per well rate of 38
boe is relatively high for mature wells," said Jeff Hume, Continental's
senior vice president of operations.
14 January 2008 19:30 GMT
| last updated:
14 January 2008 19:30 GMT
Latest jobs
