Calgary-based PetroShale acquires interest in EOG-operated Bakken acreage
CALGARY -- PetroShale has acquired an 18.75% working interest in a proposed drilling unit in McKenzie County, North Dakota, for a total purchase price of $3.25 million. The company intends to use existing credit facilities and cash resources to fund the cash portion of the purchase price and anticipates the transaction will close before the end of January.
The acquired acreage is being spaced for 8 wells and will be operated by EOG Resources. PetroShale is a growing oil company committed to value creation by identifying and consolidating interests in the prolific, multi-zone Williston basin in North Dakota and Montana.