Whiting Petroleum Corporation has closed the previously announced $260 million acquisition from a private party of certain producing oil and gas wells and development acreage in the Williston Basin. The purchase price is subject to customary post effective date closing adjustments for revenues and expenses.
The acquired properties consist of approximately 17,282 net (39,310 gross) acres located in Williams and McKenzie counties of North Dakota and Roosevelt and Richland counties of Montana that target the Middle Bakken and Three Forks zones. The properties include 13 operated 1,280-acre Bakken/Three Forks drilling spacing units with an average working interest of 58% and net revenue interest of 48%. 92% of the acreage is held by production.