Ward Williston divests oilfield service division

By Oil & Gas Financial Journal staff

Privately-held Ward Williston Oil Co. has sold its Westhope, North Dakota-based oilfield service division to an affiliate of Missouri Basin Well Service Inc. for an undisclosed amount.

The company’s oilfield services division was launched in 1958 as an additional revenue stream to help fund the company’s then growing E&P division when operations in the Williston Basin and in North Dakota were not as robust as today, noted Ward Williston CEO Tom Cunnington in a previous interview with OGFJ. Read the entire interview here.

"We felt the Missouri Basin Well Service culture matches ours very well and they would provide an incredible opportunity for all our employees," said Cunnington.

The oilfield service division was fully divested and included 170 personnel and all the service equipment and buildings. Operations will continue to be run out of the main office in Westhope and the branch offices in Lignite and Stanley, North Dakota.

"This divestiture allows us to concentrate on increasing our proved reserves and production through acquisitions and field development," said Ward Williston COO, Nathan Conway.

The strategic plan for Ward Williston including various partnerships and joint ventures, incorporates an aggressive exploration and production plan for 2012.



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