Denver, CO and London, UK – Liberty Resources II LLC (“Liberty II” or the “Company”), a Denver‐based oil and gas company, today announced that it has entered into an agreement to acquire oil and gas assets in North Dakota’s Williston Basin for $455 million. The properties to be acquired comprise approximately 53,000 net acres in Williams, Divide, Burke and McKenzie counties and over 4,000 boe/day of production from the Bakken and Three Forks formations, which Liberty II will continue to target as it furthers the development of the acquired properties. The transaction represents the first acquisition by Liberty II since it announced in November 2013 a $350 million equity commitment from funds managed by energy private equity firm Riverstone Holdings LLC (“Riverstone”), including Riverstone Global Energy and Power Fund V and Riverstone Energy Limited (“REL”), management, and other investors. Read the full article
