Eco-Trade Acquires South Bakken Prospect

Printer Friendly Version
Email this Page

Eco-Trade Corp. announced Friday that it has signed a definitive agreement to acquire the South Bakken Prospect in Montana.

Eco-Trade Corporation has, through this acquisition, the rights to the exploration, drilling and production on a property in Lewis & Clark County in Montana, near Great Falls totaling over 5,800 acres called the South Bakken Prospect. The property is located in the southern part of the Alberta Bakken Fairway, and may hold an estimated reserve potential of between 80 to 120 millions of barrels of oil recoverable according to a report prepared by BakkenQuest LLC.

The advent of the Alberta Bakken Fairway creates another opportunity for Bakken production outside of the boundaries of the Williston Basin. The Bakken Fairway was first discovered and drilled in Alberta, Canada, but now extends deep into northwest Montana into Lewis & Clark County where it is bordered by the Rocky Mountain Thrust Zone on the west and the Sweetgrass Arch to the west.

Other companies in the general vicinity include Primary Petroleum, Rosetta Resources Inc., Newfield Exploration Company, Stone Energy, Anschutz Exploration Corp., Quicksilver Resources Inc., Fairways Offshore Exploration Inc., Arkanova Energy Corp., FX Energy, Inc. and American Eagle Energy Inc.

According to BMO capital Markets, "While the play is still emerging, the Alberta Bakken appears to be developing into a potential new unconventional tight oil resource play."

The company believes that it has positioned itself in the middle of a major new oil play in Continental America, and is looking forward to developing its assets further.

Printer Friendly Version
Email this Page

WHAT DO YOU THINK?

Post a Comment Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies
Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE


Most Popular Articles


From the Career Center
Jobs that may interest you
Regional Sales Lead
Expertise: Business Development|Sales & Marketing
Location: Houston, TX
 
Pipelay Project Mobilization/Demobilization Engineer
Expertise: Heavy Lift / Pipelay|Project Engineer|Project Management
Location: Houston, TX
 
Vice President of Sales
Expertise: Executive|Sales & Marketing
Location: MS
 
search for more jobs

Brent Crude Oil : $65.37/BBL 1.75%
Light Crude Oil : $59.72/BBL 1.64%
Natural Gas : $2.89/MMBtu 2.03%
Updated in last 24 hours