Ante5 Bolsters N.D. Position
Ante5, Inc. announced Wednesday that it has entered into agreements to purchase certain oil & gas leases covering approximately 8,023 net acres in the counties of Dunn, Billings and Stark, North Dakota. With the addition of these new leaseholds, Ante5 will control approximately 13,800 net acres in the growing North Dakota Bakken and Three Forks trend.
"These acquisitions materially increase our exposure to the North Dakota Bakken and Three Forks play," said Bradley Berman, Chief Executive Officer of Ante5. "Leading exploration companies continue to have significant Bakken and Three Forks success south of Mountrail. Ante5's newly acquired acreage appears to be in the fairway of that success."
"Our focus on strategic acreage acquisition continues to provide opportunities for Ante5 to expand our leasehold interest," stated Mr. Berman. "We plan to continue to acquire prospective acreage in the expanding Bakken and Three Forks trend and develop our leasehold interest with our drilling partners in the region. The speed of development continues to accelerate in North Dakota and we expect to increase our production significantly throughout 2011."
Ante5, Inc. is an oil and gas exploration and production company based in Minnetonka, Minnesota. Ante5's focus is the Williston Basin Bakken and Three Forks trend in North Dakota and Montana. Ante5 controls, or has under contract, approximately 13,800 net mineral acres in North Dakota.