Northern Oil & Gas Inc., Minneapolis, has acquired oil production and acreage in the Williston basin of North Dakota from Salt Creek Oil & Gas LLC, Denver, for $40 million and 6 million shares.
Salt Creek 90% owner Deutsche Rohstoff AG, Mannheim, Germany, said the transaction value at closing was $63.6 million.
Assets, all non-operated, include 1,380 boe/d of production and 1,319 net acres held by production with an average net revenue interest of 86%.
Northern acquired interests in 86 gross (6.5 net) wells currently producing, drilling, or awaiting completion and an estimated 137 gross (8.2 net) drilling locations.
Operators of the assets include Hess Corp., Whiting Petroleum, ConocoPhillips, and Equinor.
