Oasis Petroleum acquires 161,000 acres in Williston basin
HOUSTON -- Oasis Petroleum Inc. has signed four separate and unrelated purchase and sale agreements to acquire assets in the Williston basin totaling approximately 161,000 net acres for $1,515 million.
On a combined pro forma basis, Oasis will have approximately 492,000 net acres with recent production of approximately 43,000 boed, based on internal operational reports.
Oasis signed a purchase and sale agreement to acquire approximately 136,000 net acres in and around its position in North Dakota, in its West Williston project area, for $1,450 million. Of the approximate 136,000 net acres, approximately 91,000 net acres have no depth limitations.
Oasis also signed three other unrelated purchase and sale agreements to acquire certain assets in East Nesson totaling 25,000 net acres, in the aggregate, for $65 million.
The four acquisitions are expected to close in early October 2013. The effective date for the West Williston acquisition is April 1, 2013. The effective dates for the East Nesson acquisitions are all July 1, 2013.