Natural Resource Partners LP (NYSE:NRP) has completed the acquisition of non-operated working interests in oil and gas properties in the Williston Basin of North Dakota from Sundance Energy Inc. for $33.7 million in cash after purchase price adjustments. The acquisition has an effective date of September 1, 2013.
The properties, which are all held by production and currently producing from the Bakken/Three Forks play, are located in McKenzie, Mountrail and Dunn counties, and are actively being developed. The acquisition includes an interest in approximately 100 wells producing or in various stages of development, as well as the opportunity to participate in future development locations. The acquisition is expected to be immediately accretive to NRP's unitholders.
On Dec. 17, the board of directors of NRP's general partner elected Wyatt L. Hogan as executive vice president. Hogan previously served as vice president, general counsel and secretary. In addition, David M. Hartz was elected as vice president of oil and gas; Kathryn S. Wilson was elected as vice president, general counsel and secretary; and Gregory F. Wooten was elected as vice president, chief engineer.