- Tight Gas & Oil
- Gas Hydrates
Northern Oil and Gas will acquire more than 10,000 net core nonop Bakken acres from W Energy Partners in a cash-and-stock deal worth roughly $292.8 million.
The company's second-quarter net income of $3.95 billion was up from $3.35 billion in the year-ago quarter, while overall production fell by 7%. But Permian production grew 30%.
Analyst say the Permian Basin has the best shale oil production in the U.S. but the high cost associated could make the Bakken a better play for some.