Reuters reveals Continental Resources to buy Texas land from Pioneer for $3.25 bln - Reuters News Agency
Business & Finance

Reuters reveals Continental Resources to buy Texas land from Pioneer for $3.25 bln

Reuters revealed that the U.S. oil and gas producer was nearing a deal to buy the Delaware Basin assets of peer Pioneer Natural Resources for more than $3 billion, expanding Continental’s operations into Texas. The companies then confirmed the deal. It is the latest sign that soaring crude prices are emboldening some U.S. energy companies to pursue deals as they seek to ramp up production. 

Market Impact

Shares of Continental Resources Inc dropped more than 6%.



Article Tags
Topics of Interest: Business & Finance
Type: Reuters Best
Sectors: Equities
Regions: Americas
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Important Regional Story
Birds fly over storage tanks on a Continental Resources oil production site near Williston, North Dakota January 23, 2015.  REUTERS/Andrew Cullen   (UNITED STATES - Tags: BUSINESS ENERGY COMMODITIES)
Sign up for email updates
Subscribe
Sign up for email updates