Ursa Resources, an oil and gas exploration and production company, has entered into an agreement to develop approximately 10,500 net acres in a proven part of the Bakken formation in McKenzie County, North Dakota, and Richland County, Montana.

With this agreement, the company’s net leasehold in the Williston Basin now surpass 100,000 net acres, almost all of which is located in Williams, McKenzie, and Billings counties, North Dakota, and Richland and Roosevelt counties, Montana.

Under the terms of the agreement, Ursa will earn an interest in the acreage by drilling and completing two earning wells, one in Montana and the other in North Dakota.

The company said it has acquired acreage in the most prospective parts of the basin and has recently drilled its first operated well in McKenzie County, North Dakota.