One-Page Deal Sheet
Pangean, PetroTech Ink Oily Bakken JV
Pangean Energy Llc Petrotech Oil and Gas Inc.
Announced Date
June 13,2013
Transaction Type
JV
Enterprise Value (EV)($MM)
29
Asset/Basin:
{"Williston Basin"}
TargetZones:
{"Bakken Shale"}
Net Acres
Proved Reserves
Location
Calculated Metrics( EV/Category)
Region
Williston Basin
Country
United States
State
North Dakota
Play
Production & Reserves Reserves
Calculated Metrics( EV/Category)
$/ Acre
Transaction Details: Subscribe to see
PetroTech Oil and Gas Inc. and Pangean Energy LLC, through a joint venture, have entered into a contract to purchase mineral interests in Leases in North Dakota, Bakken Shale Formations the leases consist of 16,000 acres under lease, with an additional 14,000 acres under option.
"The acquisition price is $28,800,000.00 to be paid through a combination of cash, stock and interest in the development of the wells; (which have no depth restrictions and include several other potential zones). The transaction is subject to final due diligence by the purchaser and legal title opinions," said Eddie…
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