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PetroShale declares production acquisition in Williston Bakken


Published Oct 23, 2012
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Williston Bakken

PetroShale Inc. says that PetroShale (US), Inc., a wholly owned subsidiary of PetroShale, has acquired production and proven developed reserves in Montrail County, North Dakota in the Williston Bakken.

The $4.5 million purchase price is for "borehole only" production of 63 boepd, estimated proven net reserves of 172,526 boe and an IRR of 14% at $90 WTI and a $7 differential (according to an independent report by Ryder Scott dated July 11, 2012).

Current differentials are running less than $5. The effective date for the transaction was August 1, 2012 and the production is 91% oil with approximately 80% of the gas being liquids.

Tags: PetroShale Inc.




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