Oil and gas exploration, development and production company JayHawk Energy Inc. has acquired leases in the Bakken shale and Three Forks unconventional oil play in Divide County, North Dakota.

Marshall Diamond-Goldberg, president of the Post Falls, Idaho-based company stated, "JayHawk's intention has always been to eventually become involved in the Bakken due to its proximity to the company's production presence in the state of North Dakota. In order to proceed with the company's recent drilling at Crosby, a quarter section of land was acquired with Bakken rights, which allowed JayHawk a small entry into the play. With this acquisition, the company decided to begin the search for additional Bakken rights. This recent acquisition is the first of what the company hopes to be multiple additions to its holdings in the Crosby-Bakken lands."

The Bakken and Three Forks rights acquired include 1,066.5 gross acres and 135.056 net acres in Divide County approximately 20 miles from the Crosby pool.

Based on corporate assessments by Houston-based EOG Resources - one of the pioneers in developing the play, Whiting Petroleum, Oasis, and others, Diamond-Goldberg believes recoverable reserves in the area are somewhere between 300 and 800 thousand barrels of light sweet crude separately in the Bakken and Three Forks, “making both targets economically attractive despite high drilling and completion costs.” 

JayHawk Energy, Inc. is an independent, managed risk, oil and gas exploration, development and production company headquartered in Post Falls, Idaho with field offices in North Dakota and Kansas. The company’s current focus is on the exploration, drilling, and development of our key asset currently consists of 17,000 gross acres of mineral title on a light crude producing property in Candak, North Dakota, part of the Williston Basin. 

Source:  JayHawk Energy Inc.