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Continental Resources weighs sale of water infrastructure stake - Bloomberg

|About: Continental Resources, Inc. (CLR)|By:, SA News Editor

Continental Resources (CLR -2.1%) is exploring a sale of a non-controlling stake in its water infrastructure business that could value the unit at $1B or more, Bloomberg reports.

Infrastructure for handling the immense amount of water used in fracking has become increasingly valuable in recent years, and CLR already has taken advantage when it sold some of its water business in Oklahoma to Lagoon Water Solutions in July for $85M.

CLR has said its water business generates ~$100M in annual EBITDA.

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