One-Page Deal Sheet
X-Change To Acquire Montana Bakken / Three Forks Acerage
X-Change Corp Not Disclosed
Announced Date
April 09,2012
Close Date
July 17,2012
Transaction Type
Property
Enterprise Value (EV)($MM)
31
Location
Calculated Metrics( EV/Category)
Region
Williston Basin
Country
United States
State
Montana
Play
Calculated Metrics( EV/Category)
$/ Acre
Transaction Details: Subscribe to see
X-Change Corporation announced through its subsidiary Cress Oil, Inc., that it has entered into a purchase and sale agreement with a private company to acquire more than 44,000 net mineral acres in the Bakken and Three Forks formation in the US portion of the Williston Basin of Montana.
The total purchase price is $30,800,000.00. The leases can be taken in separate blocks of 1,000 or more acres at the discretion of Cress Oil until the entire block of 44,000 acres is taken down.
Cress Oil agrees to drill a minimum of 2 to 4 wells every 12 months during the first 36 months. While there is more…
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