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News Franco-Nevada teams with oil firm Continental Resources to buy mineral rights

News Franco-Nevada teams with oil firm Continental Resources to buy mineral rights
Mining News Pro - Franco-Nevada (TSX: FNV; NYSE: FNV) and Continental Resources (NYSE: CLR) have struck a strategic relationship to jointly buy mineral rights in the Scoop and Stack oil & gas plays in Oklahoma.
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Franco-Nevada (TSX: FNV; NYSE: FNV) and Continental Resources (NYSE: CLR) have struck a strategic relationship to jointly buy mineral rights in the Scoop and Stack oil & gas plays in Oklahoma.

Franco-Nevada says it will contribute about US$220 million for the acquisition of existing mineral rights owned by a Continental subsidiary and has committed, subject to satisfaction of agreed-upon development thresholds, to spend up to US$100 million per year over the next three years to acquire additional mineral rights to be jointly held in a newly-formed company.


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