Scandinavian Oil-Gas Magazine
http://www.scandoil.com/moxie-bm2/news/stratex-acquires-multiple-producing-wells-and-acre.shtmlStratex acquires multiple producing wells and acreage in North Dakota
Stratex Oil & Gas Holdings, Inc. has acquired multiple wells in North Dakota.
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Stratex Oil & Gas Holdings, Inc. has acquired multiple wells in North Dakota. Consideration paid for the wells was $250,000 in cash and 250,000 shares of Stratex common stock. The gross acreage is 3,850 and the net acreage position is 87.35. The acquired acreage includes 6 producing Bakken wells, 3 currently drilling wells, and permitted Bakken well locations with several additional possible permitted locations.
All of the acreage is non-operated with the operators being Whiting Petroleum, XTO Energy and Continental Resources. Stephen Funk, CEO of Stratex, added: "We are pleased to continue building our cash flow through this acquisition. We will continue to acquire new acreage and production through various means to continue executing on our business plan."
