Seeking Alpha

Emerald Oil acquires 20K Williston Basin acres for $75M

  • Emerald Oil (EOX) enters into two separate agreements to acquire additional core Bakken and Three Forks producing properties in North Dakota for a combined ~$75M.
  • The acquisitions contain 20.8K net acres, including ~19.5K net acres highly contiguous to EOX's Low Rider operating area, with 350 boe/day of estimated current net production.
  • Upon closing, EOX's total Williston Basin leasehold will increase to ~85K net acres (75% operated).
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