Massif Oil & Gas Partners With NGP For Powder River Basin Return

Nov 08 21:11 2018 Print This Article

Massif Oil & Gas said Nov. 8 it landed with NGP as its new private-equity backer for the return of the Bozeman, Mont.-based team to the Powder River Basin in Wyoming.

Following its formation in 2015, Massif set out to build acquire and exploit low-risk, proven, operated, oil and natural gas assets with economic drilling opportunities. Through this strategy, the company built a position in the Hilight Field in the Powder River Basin, which, by 2017, totaled 55,000 net acres.

The company eventually sold its position to Vermilion Energy Inc. (NYSE: VET), per BMO Capital Markets, for $186 million. The transaction, which closed during third-quarter 2018, consisted of mineral land and producing assets in Campbell County, Wyo.

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OilandGasInvestor.com is your complete source for information about the financial world of oil and gas. An interactive, searchable version of Hart Energy Publishing's Oil and Gas Investor Magazine, this site also provides online content from OGI This Week and A&D Watch. In addition to providing daily analysis of trends and industry events, their editors interpret the news to highlight opportunities for investors. Since 1973, the company has been recognized for its expert coverage of the global energy industry through its highly respected, award-winning magazines, newsletters and directories, conferences, consulting services and online resources. With representation in the upstream, midstream, and downstream sector, Hart Energy takes the lead in providing original and timely data through its numerous products and services.

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