Continental Acquires Assets From Chesapeake for $60 M

Continental Resources Inc has agreed to acquire producing oil properties in North Dakota and Montana from an affiliate of Chesapeake Energy Corp for $60 million.

The Williston Basin properties currently produce about 700 barrels of oil equivalent per day, and had proved reserves of about 4 million boe as of December 2007, the oil and natural gas company said in a statement.

Enid-based Continental Resources is an independent oil and natural gas exploration and production company with operations in the Rocky Mountain, Mid-Continent and Gulf Coast regions of the United States.

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