Continental Resources expands Powder River acquisitions

MRP 37: Powder River Basin Overview – The Mineral Rights Podcast

A published report indicated that Oklahoma’s Continental Resources has expanded on the acquisition it made last year in Wyoming’s Powder River Basin.

Hart Energy reported this week that Continental CEO William Berry confirmed the company had acquired another 85,000 acres on top of the 130,000 acres it bought from Samson Resources II of Tulsa in a $215 million deal.

“We now have approximately 215,000 acres that we’ve ended up with in the Powder River,” Berry said in an exclusive interview with Oil and Gas Investor.

The expansion was not revealed by Continental in a news release. But the company website, showing its areas of operations, stated that among its holdings were “newly acquired positions in the Powder River Basin of Wyoming…”

It was in March 2021 when Continental announced it had closed on the deal to acquire Powder River basin assets from Samson Resources II. At the time, the company indicated it expected to begin delineating and developing the Shannon, Frontier and Niobrara reservoirs with 2 rigs.

The acquisition involved 130,000 net acres, 9,000 boe/d of production and 96 approved federal drilling permits.