| Whiting Petroleum Corporation announced that it has acquired additional royalty and overriding royalty interests in its North Ward Estes field and various other fields in the Permian Basin. Also included in the transaction were contractual rights, including an option to participate for a 5.0% working interest and right to back in after payout for an additional 7.5% working interest in the development of deeper pays on acreage under and adjoining the North Ward Estes field. The purchase price was $38.7M with an effective date of October 1. Over 90% of the purchase price was allocated to the royalty and overriding royalty interests in the North Ward Estes field, located in Ward and Winkler Counties, Texas. The sellers were private owners. :theflyonthewall.com |
