Encore Acquisition Co., Fort Worth, Texas, (NYSE: EAC) has closed the acquisition of oil and gas properties in the Williston Basin in Montana and North Dakota from Howell Petroleum Corp. and Kerr-McGee Oil and Gas Onshore LP, subsidiaries of Anadarko Petroleum Corp., The Woodlands, Texas, (NYSE: APC) for $410 million in cash. The Williston Basin properties involve more than 50 fields with approximately 70,000 net acres in the Bakken play in Montana and North Dakota. Production is 5,000 net barrels of oil equivalent per day. Total proved reserves are approximately 21 million barrels equivalent (90% oil, 81% proved developed producing). Anadarko operates approximately 93% of the properties, and Encore will operate 85% after closing.
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