Deals - Acquisition, Mergers, Divestitures
Stratex Picks Up Multiple Producing Bakken Shale Wells
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Stratex Oil & Gas Holdings, Inc. has reported the acquisition of multiple wells in North Dakota.
Consideration paid for the wells was $250,000 in cash and 250,000 shares of Stratex common stock. The gross acreage is 3,850 and the net acreage position is 87.35. The acquired acreage includes 6 producing Bakken wells, 3 currently drilling wells, and permitted Bakken well locations with several additional possible permitted locations.
Listed below are the names and details on the acquired wells:
All of the acreage is non-operated with the operators being Whiting Petroleum, XTO Energy and Continental Resources.
Stephen Funk, CEO of Stratex, added: "We are pleased to continue building our cash flow through this acquisition. We will continue to acquire new acreage and production through…
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