Northern Farms Out Share in Montana Well to Rincon
Northern Oil and Gas, Inc. has signed a farm-out agreement with Rincon Exploration LLC to drill a Red River Formation test well in Sheridan County, Montana, on Northern Oil acreage. Northern's share of drilling costs will be borne by Rincon and partners until casing of the well, and Northern will retain a 12.5% working interest in a completed well.
"We are very excited that Rincon has farmed-in to this well. 3D seismic driven Red River oil exploration in the immediate vicinity has proven to be very productive," stated Northern Oil CEO Michael Reger. "This carried farm-out agreement with Rincon will further our objective of mitigating capital expenditure, while increasing production revenue."
Northern Oil controls approximately 22,000 net acres in Sheridan County, Montana and 4,000 net acres in Mountrail County, North Dakota.
Northern Oil and Gas, Inc. is a Nevada corporation focused on drilling exploratory and developmental wells in the Rocky Mountain regions of the United States. Its primary focus of is the Middle Bakken formation in the Williston Basin. Northern Oil's secondary target is conventional, 3D driven, oil and gas exploration and development throughout the Rocky Mountain region.
- Northern Oil & Gas Acquires Upstate New York Acreage (Jun 27)
- Northern, Brigham Form Williston Basin JV (Apr 25)
- Brigham, Northern Form Williston Basin JV (Apr 23)
Company: Rincon Exploration LLC more info
- Northern Farms Out Share in Montana Well to Rincon (Apr 20)