PetroShale Buys Williston Basin Assets

Transaction Type
Sellers
Buyers
Announce Date
Post Date
Estimated Price
$2.5MM
Description

Acquired acreage and 11 producing wells in the Williston and Three Forks play.

PetroShale Inc. (TSXV: PSH) completed an acquisition of 105 net acres of land and a 1.5% average working interest in 11 producing wells in the Williston Basin Bakken and Three Forks play for $2.5 million in cash.

Current production net to PetroShale from seven wells is 60 barrels of oil equivalent per day (86% liquids). The other four producing wells remain on confidential status until June 2013. In addition to the 11 producing wells there are 10 permitted well locations from a total of 45 gross drilling locations in the area of the Williston Basin along the Mackenzie County/Mountrail County border in Alberta.

PetroShale Inc. is an oil company focused on the Williston Bakken. The company is based in Denver.