This acquisition brings Lario’s total regional holdings to more than 250,000 gross and 49,182 net acres in the Bakken and Three Forks formations in North Dakota, Montana and Saskatchewan.
The majority of this acreage is held by production, and the company’s Bakken and Three Forks production is currently estimated to be 3,000 net barrels of oil per day.
The acquisition includes interests in more than 36 Bakken and Three Forks wells as well as several PUDs and offsetting acreage.
Current production from these properties is approximately 100 barrels of oil equivalent per day.
