Addison, TX – Noble Royalties, Inc. has closed on the acquisition of producing oil and natural gas royalties in seven North Dakota counties from an undisclosed seller. The $37.75 million Bakken Shale acquisition consists of 81% oil, 15% natural gas and 4% natural gas liquids production. The acquisition includes not only the currently producing wells in the Bakken Shale, but other target formations which are being developed in the area. These include the Three Forks, Mission Canyon, Duperow and Red River formations.
Noble Royalties President and CEO Scott Noble praised the acquisition stating, “We have been looking for the right asset to establish a strong initial position in the Bakken Shale. This acquisition provides current production as well as potential growth through the hundreds of PUD Bakken locations as operators continue to develop the asset.”
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Noble Royalties, Inc. is one of the nation’s largest private purchasers of oil and natural gas royalties. Founded in 1997 by President and CEO Scott Noble, the company has since acquired more than $1.3 billion in mineral, royalty and overriding royalty interests in 30 states across hundreds of millions of acres. With corporate headquarters in Addison and an engineering and evaluation office in Houston and acquisition offices in Denver, CO, San Antonio, TX and Cuero, TX, Noble Royalties is dedicated to providing royalty owners with a cash option to maximize the value of their holdings.
For more information:
(Martin Fleming), (469-879-6747), (mfleming@nobleroyalties.com)