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Noble Closes $37.75 Million Bakken Shale Acquisition

Source: www.gulfoilandgas.com 5/25/2012, Location: North America

Noble Royalties, Inc. has closed on the acquisition of producing oil and natural gas royalties in seven North Dakota counties from an undisclosed seller. The $37.75 million Bakken Shale acquisition consists of 81% oil, 15% natural gas and 4% natural gas liquids production. The acquisition includes not only the currently producing wells in the Bakken Shale, but other target formations which are being developed in the area. These include the Three Forks, Mission Canyon, Duperow and Red River formations.

Noble Royalties President and CEO Scott Noble praised the acquisition stating, “We have been looking for the right asset to establish a strong initial position in the Bakken Shale. This acquisition provides current production as well as potential growth through the hundreds of PUD Bakken locations as operators continue to develop the asset.”

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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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