According to the company, the property is located in a prolific oil and gas district, with more than 300 million barrels of oil and 500 billion cubic feet of natural gas produced to date within a 50-mile radius.
The property is located within the geologic province known as the Sweetgrass Arch in northwest Montana, which is one of the oldest producing oil and gas provinces in the Rocky Mountains.
The company considers the property to be a high-potential acquisition that could be brought to production quickly.
UnionTown said it believes that the property has the potential to accommodate 17 shallow horizontal oil well locations.
