Williams Cos. Inc., Tulsa, will pay undisclosed private owners $925 million to acquire 85,800 net acres in North Dakota that it estimates represent 185 million boe net potential recovery from the Middle Bakken and Upper Three Forks formations.
The purchase will diversify the company’s exploration and production interests into light, sweet crude oil production. By 2013, 25% of the company’s E&P revenue streams are expected to be generated by oil production, up from 7% in 2010.
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Source: Oil & Gas Journal
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