Continental Resources To Sell $222 Million Of Non-core Assets In North Dakota, Montana

Oil producer Continental Resources Inc. said Thursday it has signed a deal to sell non-core assets in North Dakota and Montana for $222 million, The sale includes about 2,800 barrels of oil equivalent per day. Chief Executive Harold Hamm said the sale is the third of non-core assets this year with overall proceeds expected to total $600 million. "We plan to apply proceeds to reduce debt and strengthen our balance sheet," he said in a statement. Shares were not yet active in premarket trade, but are up 106% in the year so far, while the S&P 500 has gained about 7%.