Natural Resource Partners LP (NYSE:NRP) completed the acquisition of nonoperated working interests in oil and gas properties in the Bakken/Three Forks play of the Williston Basin from an affiliate of Kaiser-Francis Oil Co. for $339 million, the Houston company said Nov. 13.
The assets, located in Sanish Field in Mountrail County, N.D., are all HBP and operated by Whiting Petroleum Corp. (NYSE: WLL).
The transaction was funded with proceeds from both debt and equity capital market transactions completed in October and through borrowings from NRP Oil and Gas's upsized credit facility. In conjunction with the closing of the transaction, the borrowing base under that credit facility was increased to $137 million.
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