Whiting Petroleum Closes Williston Basin Acquisition

Whiting Petroleum's latest acquisition is now one for the history books. The company announced that it has closed a $260 million deal, first made public in August, to acquire 17,282 net acres along with production assets in the Williston Basin. Whiting had secured the properties from a private party that it did not name.

The land is located in Williams and McKenzie counties in North Dakota, and in Montana's Roosevelt and Richland counties. Oil and gas production from the company's new properties was estimated to average 2,420 barrels of oil equivalent per day this past August. Whiting Petroleum believes proven reserves there amounted to 17.1 million BOE as of Aug. 1.

The article Whiting Petroleum Closes Williston Basin Acquisition originally appeared on Fool.com.

Fool contributor Eric Volkman has no position in Whiting Petroleum. Nor does The Motley Fool. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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