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PRB Energy, Inc., has acquired 13 wells, 12 gas wells and one water disposal well, and about 330,000 net acres in northeastern Colorado and southwestern Nebraska for $11.7 million in cash. The production and future development activities are in the Niobrara formation. The acquisition also includes about 159 drilling locations, as identified by 3D seismic, and also includes the license to 85 sq mi of proprietary 3D seismic and 115 mi of proprietary 2D seismic.
Kentex Petroleum, Inc., announced a letter of intent to acquire Northern Oil and Gas, Inc., a Nevada exploration and development corporation. The corporation's primary assets are two leaseholds in the Williston basin. The corporation also controls about 22,000 acres (net) in Sheridan County, Montana (Sheridan stacked pay), and about 3,600 acres (net) in Mountrail County, North Dakota (Bakken shale).
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Houston, TX - November 4-5
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