Valorem Energy closes on $285-million acquisition of Williston basin assets


OKLAHOMA CITY -- Valorem Energy, LLC, and certain wholly-owned subsidiaries, an independent oil and natural gas company headquartered in Oklahoma City, Okla., and backed by the Kayne Private Energy Income Fund, L.P., announced that it has closed on its acquisition of LINN Energy, Inc.’s Williston basin interests for a purchase price of $285 million, subject to customary purchase price adjustments.

The acquired assets consist of approximately 20,000 net acres in North Dakota, South Dakota and Montana with estimated third quarter net production of 8,750 boed. The sale has an effective date of March 1, 2017.

This reportedly is the company's first acquisition since forming Valorem earlier this year.

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