Whiting Petroleum Corp Announces Agreement to Acquire Properties in the Williston Basin for $260 Million

Tuesday, 27 Aug 2013 09:08am EDT 

Whiting Petroleum Corp announced that it has signed a purchase and sale agreement with a private party to acquire certain producing oil and gas wells and development acreage in the Williston Basin in Williams and McKenzie counties of North Dakota and Roosevelt and Richland counties of Montana. The purchase price is $260 million, subject to customary adjustments, and the acquisition has an effective date of August 1, 2013. Whiting expects the acquisition to close by September 30, 2013, subject to customary conditions to closing. Whiting plans to finance the acquisition with borrowings under its existing bank credit facility. 

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