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Acquisition History
We built our leasehold position in our West Williston, East Nesson and Sanish project areas through the following acquisitions and development activities:
- In June 2007, we acquired approximately 175,000 net leasehold acres in the Williston Basin with then-current net production of approximately 1,000 Boe/d. This acreage is the core of our West Williston project area.
- In May 2008, we entered into a farm-in and purchase arrangement, under which we earned or acquired approximately 48,000 net leasehold acres, establishing our initial position in the East Nesson project area.
- In June 2009, we acquired approximately 40,000 net leasehold acres with then-current net production of approximately 800 Boe/d, approximately 83% of which was from the Williston Basin. This acquisition consolidated our acreage in the East Nesson project area and established our Sanish project area.
- In September 2009, we acquired an additional 46,000 net leasehold acres with then-current net production of approximately 300 Boe/d. This acquisition further consolidated our acreage in the East Nesson project area.
- In the fourth quarter of 2010, we acquired approximately 16,700 net leasehold acres located in Roosevelt County, Montana with then-current net production of approximately 300 Boe/d and approximately 10,000 net leasehold acres primarily located in Richland County, Montana with then-current net production of approximately 200 Boe/d. This acreage is part of our West Williston project area.
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