Whiting Petroleum's (NYSE: WLL ) latest acquisition is now one for the history books. The company announced that it has closed a $260 million deal, first made public in August, to acquire 17,282 net acres along with production assets in the Williston Basin. Whiting had secured the properties from a private party that it did not name.
The land is located in Williams and McKenzie counties in North Dakota, and in Montana's Roosevelt and Richland counties. Oil and gas production from the company's new properties was estimated to average 2,420 barrels of oil equivalent per day this past August. Whiting Petroleum believes proven reserves there amounted to 17.1 million BOE as of Aug. 1.