Noble Royalties Lands Bakken Shale Properties

Transaction Type
Sellers
Buyers
Announce Date
Post Date
Close Date
Estimated Price
$37.7MM
Description

Bought royalties in seven North Dakota counties targeting Bakken, Three Forks, Mission Canyon, Duperow & Red River formations.

Noble Royalties, Inc. has closed on the acquisition of producing oil and natural gas royalties in seven North Dakota counties from an undisclosed seller.

The $37.75 million Bakken Shale acquisition consists of 81% oil, 15% natural gas and 4% natural gas liquids production. The acquisition includes not only the currently producing wells in the Bakken Shale, but other target formations which are being developed in the area. These include the Three Forks, Mission Canyon, Duperow and Red River formations.

Noble Royalties President and CEO Scott Noble praised the acquisition stating, "We have been looking for the right asset to establish a strong initial position in the Bakken Shale. This acquisition provides current production as well as potential growth through the hundreds of PUD Bakken locations as operators continue to develop the asset."