Bowline Energy LLC (formerly Meadowlark Resources LLC), Denver, has acquired Nine Point Energy's Williston basin assets in North Dakota and Montana for $250 million through a Chapter 11 Section 363 process approved by the bankruptcy court and closed Aug. 9.
Nine Point Energy Holdings Inc. and its subsidiaries, which held nearly 200 shale wells in the basin, voluntarily filed for Chapter 11 protection on Mar. 15.
Bowline expects to begin a development program, funded out of cash flows, and evaluation of merger and acquisition opportunities “in the near future,” it said in a Aug. 11 release.