Natural Resource Partners Completes $33.7 Million Acquisition In North Dakota

Transaction Type
Sellers
Buyers
Announce Date
Post Date
Close Date
Estimated Price
34MM
Description

Bought non-operated WI in oil and gas properties including 100 wells in the Williston Basin.

Natural Resource Partners LP (NYSE: NRP) announced Dec. 19 that it has completed the acquisition of non-operated working interests in oil and gas properties located in the Williston Basin of North Dakota from Sundance Energy Inc. for $33.7 million in cash.

The properties, which are all held by production and currently producing from the Bakken/Three Forks play, are located in McKenzie, Mountrail and Dunn counties and are actively being developed. The acquisition includes an interest in 100 wells producing or in various stages of development as well as the opportunity to participate in future development locations. The acquisition is expected to be immediately accretive to NRP's unitholders and has an effective date of Sept. 1.

Natural Resource Partners LP owns and manages mineral reserve properties. The company is headquartered in Houston and has operational headquarters in Huntington, W.Va.