One-Page Deal Sheet
Evolution Oil Adds to Bakken Shale Acreage Portfolio
Enterprise Energy Resources Ltd. Not Disclosed
Announced Date
December 24,2012
Close Date
December 24,2012
Transaction Type
Property
Enterprise Value (EV)($MM)
2
Location
Calculated Metrics( EV/Category)
Region
Williston Basin
Country
United States
State
Montana
County
Cascade
Play
Calculated Metrics( EV/Category)
$/ Acre
Transaction Details: Subscribe to see
Enterprise Energy Resources Ltd. has reported that its wholly owned US subsidiary, Evolution Oil Group LLC has completed the acquisition, from an arm's length third party, of approximately 46,695 net acres of oil and gas leases in Cascade County, Montana.
Evolution holds a 100% working interest in the Leases, the majority of which have a 10-year term.
As consideration for the Leases, Evolution will pay the Seller US$45 per net mineral acre for an aggregate purchase price of approximately US$2.1 million. Evolution has also agreed to pay the Seller the following contingent consideration:
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