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Bankrupt Emerald Appoints Petro-Hunt Takes Over Operatorship of Bakken Assets
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New Emerald Energy LLC announced the appointment of Petro-Hunt LLC as the contract operator of its Bakken assets, which consists of 108 wells across approximately 112,000 acres in the Bakken region, producing approximately 4,500 barrels of oil equivalent per day (BOEPD). The Company also holds a significant acreage inventory of low-risk drilling opportunities which may be explored for years to come.
Crestline and Fir Tree formed the Company in 2016 by purchasing Emerald Oil Inc. during its Chapter 11 bankruptcy process.
"We are delighted to have partnered with Petro-Hunt as the operator of our New Emerald Energy assets and are excited about further developing these assets to support our short and long term strategies," said Rahul Vaid, Managing Director with Crestline Investors Inc…
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