Stratex Oil & Gas Holdings, Inc. has acquired multiple wells in North Dakota. Consideration paid for the wells was $250,000 in cash and 250,000 shares of Stratex common stock. The gross acreage is 3,850 and the net acreage position is 87.35. The acquired acreage includes 6 producing Bakken wells, 3 currently drilling wells, and permitted Bakken well locations with several additional possible permitted locations.

All of the acreage is non-operated with the operators being Whiting Petroleum, XTO Energy and Continental Resources. Stephen Funk, CEO of Stratex, added: "We are pleased to continue building our cash flow through this acquisition. We will continue to acquire new acreage and production through various means to continue executing on our business plan."

Tags: Stratex Oil & Gas Holdings