Resource Energy Can-Am LLC has closed on its previously announced agreement to acquire assets in the North Dakota Bakken Formation from Samson Resources Company. The purchase price was approximately $75.0 million (subject to customary adjustments). The assets were sold pursuant to Section 363 of the United States Bankruptcy Code.
With the acquisition, Resource Energy has now accumulated over 110,000 net acres in the Williston Basin and has proven reserves of approximately 28 MMboe. Resource Energy has an interest in more than 350 wells (approximately 50% operated), and has current gross operated production of approximately 6,500 boe/d.