One-Page Deal Sheet
Northern Oil Bolts On Williston Basin Assets for $50MM
Northern Oil and Gas, Inc. Salt Creek Oil LLC
Announced Date
April 27,2018
Effective Date
January 01,2018
Close Date
June 04,2018
Transaction Type
Property
Enterprise Value (EV)($MM)
50
Asset/Basin:
{"Williston Basin"}
Net Acres
% Oil:
Net Operated Locations:
Location
Calculated Metrics( EV/Category)
Region
Williston Basin
Country
United States
State
North Dakota
Play
Production Production
Production Mix
Calculated Metrics( EV/Category)
$/ Flowing
$/ Acre
$/Location
Transaction Details: Subscribe to see
Northern Oil has agreed to acquire assets/acreage in the Williston Basin in a cash/stock deal worth ~$50 million ($40 million in cash and six million shares (~$10MM) of common stock).
The seller is Salt Creek Oil.
This deal closed on June 7, 2018.
Details: February estimated production of 1,380 BOEPD (87% oil)Includes 1,319 net acres in the core of the Williston Basin that are 100% held by production and have an average net revenue interest of 86% Acquiring an estimated 8.2 net future drilling locations that Northern expects will generate average EURs over 1 million barrels of oil…
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