PetroShale Buys Williston Basin Assets

Transaction Type
Sellers
Buyers
Announce Date
Post Date
Estimated Price
3MM
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.