NOG To Acquire 1,319 Net Acres In The Core Bakken; Early $40K/Acre -- April 26, 2018 - Hallo friendsMY LIVE MY WAY, In the article you read this time with the title NOG To Acquire 1,319 Net Acres In The Core Bakken; Early $40K/Acre -- April 26, 2018, We have prepared this article for you to read and retrieve information therein. Hopefully the contents of postings Article my style, Article my way, Article New ways, Article their way, We write this you can understand. Alright, good read.

Title : NOG To Acquire 1,319 Net Acres In The Core Bakken; Early $40K/Acre -- April 26, 2018
link : NOG To Acquire 1,319 Net Acres In The Core Bakken; Early $40K/Acre -- April 26, 2018

NOG To Acquire 1,319 Net Acres In The Core Bakken; Early $40K/Acre -- April 26, 2018

NOG:

• will acquire 1,319 net acres in the core Bakken
• 86 gross wells; 6.5 net wells (current operators: Hess, Whiting, COP, Statoil)
• McKenzie County, southeast of Williston; right along the south side of the river
• 100% held by production
• acquiring 8.2 net future drilling locations; EURs of 1 million bbls
• acquisition to yield almost $20 million of cash from operations for 2018 (this year)
• $40 million + 6 million shrs NOG ($1.60/share)
• $50 million / 1,319 acres = $38,000 / acre
• some idle calculations (mine, not from the NOG press release)
• • 1,319 acres = ~ 2 sections
  • 2 sections = 1280 acres
  • minimum: 12 wells on 1280-acre spacing
  • 12 wells x 1 million EURs = 12 million bbls
  • from an old post, 2014: 1,875 boe / acre - 2014; EURs of 500,00 bbls
  • 1,875 boe x 1280 acres = 2.4 million bbls
  • 12 million bbls crude oil / 1280 acres = 9,375 bbls oil / acre in the core Bakken 
  • 12 million bbls crude oil x $40/bbl = $480 million  

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Thus Article NOG To Acquire 1,319 Net Acres In The Core Bakken; Early $40K/Acre -- April 26, 2018

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