Magnum Hunter recently acquired Canada’s NuLoch Resources in an effort to boost their Bakken activity. NuLoch is Calgary based company that has focused efforts in the Williston Basin in the US and Canada. The following is a map from NuLoch’s Dec. 8th corporate presentation showing their acreage in North Dakota and southern Saskatchewan.
This is only a portion of NuLoch’s activity in North America and is focused on the Bakken and Three Forks. They also have activity in Alberta as seen in the following map of NuLoch wells in HPDI.
The deal was an all common stock transaction for roughly $327 million which includes ownership interests in 67 wells with productive capacity, a six rig drilling program in the US and Canada, and approximately 71,600 net acres in leasehold. Magnum Hunter will add these assets to their 15,000 gross acres in the Williston basin, some of which are close to the acquired acreage from NuLoch in Burke County. The following is Magnum Hunter acreage in the Williston Basin as reported on their website.
Magnum Hunter made a similar deal at the end of 2010 for an Appalachian Basin focused company called NGAS Resources for $98 million.
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