Total consideration for the transaction was $30m, which includes $26.5m of cash and approximately $3.5m of assets.
The company said that the acreage is 95% held by production and is primarily operated.
Oasis, the operator in this area, expects to drill and complete future wells consistent with completion practices used in other operated areas.
The company also expects Estimated Ultimate Recoveries within its current ranges published for West Williston.
Oasis chairman and CEO Thomas Nusz said that this deal is consistent with the company’s philosophy of focusing on large consolidated acreage positions where it can operate.
Oasis is an exploration and production company focused on the acquisition and development of unconventional oil and natural gas resources, primarily operating in the Williston Basin.
