Bowline Energy, a US-based exploration and production company, has acquired the Williston Basin assets of Nine Point Energy.

The acquisition was executed via a Chapter 11 Section 363 process and was approved by the Bankruptcy Court.

Bowline Energy stated: “The Williston Basin remains one of the premier oil and gas basins in the United States and Bowline is excited by the prospects of growing its operations in this basin.

“The purchase of the Nine Point assets gives Bowline a strong production base and steady cash flows.”

Bowline Energy said that it expects to begin a development program, which will be funded out of cash flows. Apart from that, the exploration and production company plans to start assessing strategic merger and acquisition opportunities in the near future.

  Bowline Energy, Nine Point Energy, Oil and gas industry news, Oil and gas news, USA, Williston Basin