Eco-Trade to acquire South Bakken Prospect in Montana, US

US-based oil and gas company Eco-Trade has signed an agreement to acquire the South Bakken Prospect in Montana, US, for an undisclosed amount.

As part of the acquisition the company will recieve rights to explore, drill and begin production on the South Bakken Prospect asset covering about 5,800 acres near Great Falls in Lewis and Clark County.

Located in the southern part of the Alberta Bakken Fairway, the prospect comprises reserve potential of 80 million to 120 million barrels of recoverable oil.

The Bakken Fairway was first identified and drilled in Alberta, Canada, and was later extended deep into north-west Montana into Lewis and Clark County.

BMO capital markets said that the area has still not fully emerged, however the Alberta Bakken has developed into a potential new unconventional tight oil resource prospect.

Eco-Trade said that the company has positioned itself amid a significant new oil play in Continental America and aims to develop its assets in the future.

Other companies that operate in this area includes Primary Petroleum, Rosetta Resources, Newfield Exploration Company, Stone Energy, Anschutz Exploration, Quicksilver Resources, Fairways Offshore Exploration, Arkanova Energy, FX Energy and American Eagle Energy.