Whiting Petroleum Closes Williston Basin Acquisition

(RTTNews) - Whiting Petroleum Corp. (WLL) Friday said it has completed its acquisition of certain oil and gas wells and development acreage in the Williston Basin from a private party for approximately $260 million.

The acquired properties consist of approximately 17,282 acres located in Williams and McKenzie counties of North Dakota and Roosevelt and Richland counties of Montana. The assets also include 13 operated 1,280-acre Bakken/Three Forks drilling spacing units.

Net oil and gas production from the properties was estimated to average 2,420 barrels of oil equivalent per day in August 2013. Whiting estimates proved reserves to be acquired at 17.1 million BOE as of the August 1.