Minnesota-based exploration and production company Black Ridge Oil and Gas announced on Monday that it completed its $20.6 million Corral Creek acquisition in the Williston basin. The acquisition gives the small company an additional 2,046 acres in Dunn and Golden Valley Counties in North Dakota with facilities producing approximately 165 barrels of equivalent per day.
With this acquisition, Black Ridge will finish out 2013 with 100 percent growth in wells in production over 2012.
The Dark Side of an Oil Boom
Alaskan and Californian crude oil output is on a long, slow decline. Meanwhile, a 99 percent drilling success rate is happening in the Bakken formation. Just look at the announcement above this one. There’s money to be made, and North Dakota’s crude has big opportunities on the West Coast.