News/Publications

News

News

Porter Hedges Advises Franco-Nevada in its Strategic Relationship with Continental Resources for the Joint Acquisition of SCOOP & STACK Mineral Rights in Oklahoma

Porter Hedges represents Franco-Nevada Corporation (Franco-Nevada) (NYSE & TSX: FNV) in its strategic relationship with Continental Resources, Inc. (Continental Resources) (NYSE: CLR) to jointly acquire mineral rights in the SCOOP and STACK oil & gas plays of Oklahoma. 

Franco-Nevada is contributing approximately $120 million for the acquisition of existing mineral rights owned by a Continental Resources subsidiary and has committed, subject to satisfaction of agreed upon development thresholds, to spend up to $125 million per year over the next four years to acquire additional mineral rights.  The existing mineral rights and mineral rights to be acquired will be jointly held through a newly-formed company.

Based in Toronto, Canada, Franco-Nevada is the leading gold-focused royalty and streaming company with a current market capitalization of approximately $14 billion.

Based in Oklahoma City, Continental Resources is a top 10 independent oil producer in the U.S. Lower 48.

The Porter Hedges team was led by energy partner James Thompson, with assistance from corporate partner Nick Nicholas, tax partner Geoff Schultz and energy partner Scott Muehlberger.

For additional information, please see the Franco-Nevada press release here.

Related Practices
Related Industries
Related Files
Related Links