The acreage is located within seven counties in the US widely considered to be the ‘fairway’ for the Bakken and Three Forks formations, and particularly increases the company’s holdings in Mountrail, Stark and Williams counties.
This portfolio of leases includes a large number of working interest positions in the 5-15% range, multiple 20% working interests and two at 100%.
ASEN CEO Scott Feldhacker said that the acquisition increases the company’s Bakken/Three Forks holdings to over 31,000 acres and further advances its strategic profile in the region.
"As a result of this acquisition, ASEN will have six controlling interest positions in the Bakken/Three Forks formations available for development or exchange," Feldhacker said.
