One-Page Deal Sheet
Emerald Sells Portion of Bakken Leasehold for $9.75 Million
Angelus Private Equity Group Emerald Oil Inc
Announced Date
December 24,2015
Effective Date
December 18,2015
Close Date
January 11,2016
Transaction Type
Property
Enterprise Value (EV)($MM)
10
Asset/Basin:
{"Williston Basin"}
TargetZones:
{"Bakken Shale"}
Net Acres
Location
Calculated Metrics( EV/Category)
Region
Williston Basin
Country
United States
State
Montana
Play
Calculated Metrics( EV/Category)
$/ Acre
Transaction Details: Require Private Equity Subscription
Closing Announcement - January 11, 2016
On January 11, 2016, Emerald Oil, Inc. and two of its wholly owned subsidiaries closed the sale of a portion of the Company's undeveloped leaseholds in Montana and North Dakota, consisting of approximately 9,750 net acres, as well as certain production from non-operated wells, for $9.75 million. The Company used all proceeds to repay outstanding borrowings under the Company's revolving credit facility.
Initial Announcement - December 24, 2015Emerald Oil, Inc. and two of its wholly owned subsidiaries entered into a purchase and sale agreement with…
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