Black Ridge forgoes purchase of additional Bakken acreage

Black Ridge Oil & Gas, Inc.

Black Ridge Oil & Gas, Inc., formerly Ante5, Inc., did not close on the asset purchase agreement dated March 21, 2012 for the acquisition of over 8,655 net mineral acres in the Bakken/Three Forks trends in North Dakota.

As of June 1, 2012, the company owned over 11,000 net mineral acres in the Bakken / Three Forks trends.

Kenneth T. DeCubellis, CEO of Black Ridge Oil & Gas, commented, "Given current equity financing market conditions, we did not close on the 8,655 net acre asset purchase agreement. We will continue to focus on developing our existing acreage.

“As of May 31, 2012, Black Ridge had 1.6 net wells in production, more than a 40% increase over the 1.12 net wells that the company previously reported in production as of March 31, 2012."

Related Articles

Stabilis Energy to purchase Encana’s domestic LNG business

04/15/2014

Stabilis Energy has signed a definitive agreement to purchase substantially all of the US-based assets of Encana Natural Gas Inc., a subsidiary of Encana Corp.

American Energy Partners hires Launer as senior VP

04/15/2014

American Energy Partners LP has hired Curt Launer as its senior vice president of capital formation.

 

Chevron, YPF continue development of Vaca Muerta shale in Argentina

04/14/2014 Chevron Corp. confirms that subsidiaries of the company have signed agreements with the Argentine oil company YPF SA to continue development of shale oil and gas resources from the Vaca Muerta form...

Exterran Partners acquires assets from MidCon Compression

04/14/2014 Exterran Partners LP and Exterran Holdings Inc. report that Exterran Partners has completed its acquisition of compression assets from MidCon Compression LLC, a subsidiary of Chesapeake Energy Corp...

Oryx enters Permian with $300M equity commitment

04/09/2014 Oryx Midstream Services LLC has received an equity commitment totaling up to $300 million, and will pursue midstream opportunities in the Permian Basin, focusing initially on the Delaware Basin in ...

More Oil & Gas Financial Articles

Stabilis Energy to purchase Encana’s domestic LNG business

Tue, Apr 15, 2014

Stabilis Energy has signed a definitive agreement to purchase substantially all of the US-based assets of Encana Natural Gas Inc., a subsidiary of Encana Corp.

American Energy Partners hires Launer as senior VP

Tue, Apr 15, 2014

American Energy Partners LP has hired Curt Launer as its senior vice president of capital formation.

 

Chevron, YPF continue development of Vaca Muerta shale in Argentina

Mon, Apr 14, 2014

Chevron Corp. confirms that subsidiaries of the company have signed agreements with the Argentine oil company YPF SA to continue development of shale oil and gas resources from the Vaca Muerta formation located in the Neuquén province in Argentina.

Exterran Partners acquires assets from MidCon Compression

Mon, Apr 14, 2014

Exterran Partners LP and Exterran Holdings Inc. report that Exterran Partners has completed its acquisition of compression assets from MidCon Compression LLC, a subsidiary of Chesapeake Energy Corp., for approximately $360 million.

Oryx enters Permian with $300M equity commitment

Wed, Apr 9, 2014

Oryx Midstream Services LLC has received an equity commitment totaling up to $300 million, and will pursue midstream opportunities in the Permian Basin, focusing initially on the Delaware Basin in Texas and New Mexico.

Most Popular

Oil & Gas Jobs

Search More Job Listings >>
Subscribe to OGFJ