Robert F. Heinemann, president and chief executive officer, stated, "Combined with our existing interests in nearly 750,000 gross acres in Utah and Colorado, this lease acquisition represents another growth opportunity in the Rocky Mountain and Mid-Continent regions for Berry. The early entry into the North Dakota Bakken play provides an excellent acreage position at reasonable acquisition costs. Our goal here is to establish a sizable acreage position in this emerging play and exploit the acreage with an industry partner."
Michael Duginski, senior vice president of corporate development, added, "Bakken drilling activity is increasing significantly in the North Dakota Williston Basin, with current successful production in Montana. We are aware that several companies will commence drilling adjacent to, or near, our acreage block in the near future. We expect to close on the additional acreage in the third quarter of this year."
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