Emerald Oil closes sale of certain non-operated assets (Scandinavian Oil-Gas Magazine)

Emerald Oil closes sale of certain non-operated assets

Published Jan 13, 2016

Emerald Oil, Inc. and two of its wholly owned subsidiaries closed the sale of a portion of the Company's undeveloped leaseholds in Montana and North Dakota, consisting of approximately 9,750 net acres, as well as certain production from non-operated wells, for $9.75 million.

The Company used all proceeds to repay outstanding borrowings under the Company's revolving credit facility.

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