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Zargon Oil & Gas Ltd is a producer of oil and gas. It is engaged in the exploration, development, and production of oil and natural gas in Canada and the United States. The company works on three phases of oil reservoir exploitation which include Primary recovery, Waterflood recovery, and Tertiary recovery. Its portfolio includes Alberta plains north, Alberta plains south and Williston basin... see more

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Zargon Oil & Gas Ltd > USEG pays CAD$24m for 400 boepd (NON-operated) in ND

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Post by stockfy on Aug 23, 2018 1:13pm

USEG pays CAD$24m for 400 boepd (NON-operated) in ND

Another North Dakota oil-weighted deal was announced today. It helps us get an estimate about how much ZAR can receive by selling its North Dakota asset.

USEG acquired 400 boepd for US$17.8 million or about CAD$24 million.

Also USEG's acquired production is NON-operated production while ZAR's North Dakota producing asset is operated:

U.S. Energy reaches MoU to acquire Bakken assets in cash and stock deal

Aug. 22, 2018 8:46 AM ET | About: U.S. Energy Corp. (USEG) | By: Carl Surran, SA News Editor

U.S. Energy (NASDAQ:USEG) says it has entered into an MoU with APEG I Partners to acquire all of APEG’s interest in 67 wells in North Dakota in a cash and stock deal valued at $17.8M.

USEG says the acquisition includes ~1.1M boe of proved developed reserves (79% oil) and 400 boe/day of current production across 1,600 net acres, and will add highly complementary assets to its existing portfolio in North Dakota.

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