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Continental Minerals Subsidiary

Company Summary

Description

Continental Resources reported that Franco-Nevada has agreed to pay $220 million for a stake in a newly created minerals subsidiary, which will be used to offset capital expenditures already incurred. Additionally, they have both committed to spend a combined $125 million per year for three years on the acquisition of additional minerals. Continental will fund 20% of future mineral acquisitions and will be entitled to 25-50% of total revenues.

Website

https://www.prnewswire.com/news-releases/continent...

Operational Regions

  • SCOOP
  • Oklahoma STACK Play

Related Entities

Recent news

  • 8/6/2018 - Continental Resources... (subscriber access)

Company Transactions

Date: 8/6/2018
Type: Acquisition

BUYERS:
  • Franco-Nevada Corporation
    • SELLERS:
  • Continental Resources, Inc.
  • Continental Minerals Subsidiary
    • DETAILS:

    COST: 220 $MM

    NOTES:
    Continental Resources reported that Franco-Nevada has agreed to pay $220 million for a stake in a newly created minerals subsidiary, which will be used to offset capital expenditures already incurred.
    REGIONS:
  • SCOOP
  • Oklahoma STACK Play