Whiting buying Bakken land in $260 million deal
(Reuters) - Whiting Petroleum Corp (WLL.N) said on Tuesday it is buying nearly 40,000 acres of land in the Bakken shale formation for $260 million.
The seller was not disclosed. The 39,310 gross acres in North Dakota and Montana have estimated proved reserves of 17.1 million barrels of oil equivalent.
Whiting is paying for the deal, which is expected to close by September 30, with borrowings under its existing bank credit.
(Reporting by Ernest Scheyder; Editing by Gerald E. McCormick)
WASHINGTON - When U.S. regulators adopt the Volcker rule on Tuesday, they will make good on a promise by politicians to rein in banks' ability to gamble with their own money.
SAN FRANCISCO - At Pinterest, the four-year-old online bulletin board service that is valued near $3.8 billion, some 70 percent of the users are female. But the company's board of directors is 100 percent male. | Video
BEIJING/HONG KONG - China reiterated its opposition on Thursday to a European Union plan to limit airline carbon dioxide emissions and called for talks to resolve the issue a day after its major airlines refused to pay any carbon costs under the new law.