One-Page Deal Sheet
Hallador Energy signs Letter of Intent to sell Bakken Leases
Not Disclosed Hallador Energy Company
Announced Date
June 10,2011
Close Date
June 10,2011
Transaction Type
Property
Enterprise Value (EV)($MM)
14
Asset/Basin:
{"Williston Basin"}
TargetZones:
{Bakken,"Three Forks
Net Acres
Location
Region
Williston Basin
Country
United States
State
North Dakota
Play
Transaction Details: Require Private Equity Subscription
Hallador Energy Company signed a letter of intent with an undisclosed independent oil and gas company to sell its undeveloped leases in North Dakota covering approximately 10,000 acres. These leases are in the Bakken-Three Forks oil play.
The buyer will be purchasing 90% of our interest or approximately 9,000 net acres at a price of $1,500 per acre or $13.5 million. We will retain a 10% working interest and an approximate 3% average overriding royalty interest in the play. This transaction is subject to a final approval by both parties. We expect to have a signed purchase and sale agreement in…
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