Emerald Oil Closes Sale of Certain Non-Operated Assets

DENVER, CO -- (Marketwired) -- 01/13/16 -- On January 11, 2016, Emerald Oil, Inc. (the "Company") (NYSE MKT: EOX) and two of its wholly owned subsidiaries closed the sale of a portion of the Company's undeveloped leaseholds in Montana and North Dakota, consisting of approximately 9,750 net acres, as well as certain production from non-operated wells, for $9.75 million. The Company used all proceeds to repay outstanding borrowings under the Company's revolving credit facility. 

About Emerald

Emerald is an independent exploration and production operator that is focused on acquiring acreage and developing wells in the Williston Basin of North Dakota and Montana, targeting the Bakken and Three Forks shale oil formations and Pronghorn sand oil formation. Emerald is based in Denver, Colorado. More information about Emerald can be found at www.emeraldoil.com.

   
    Corporate Contact:
    Emerald Oil, Inc.Mitch AyerVice President - Finance & Investor Relations(303) [email protected]

Source: Emerald Oil, Inc.

You May Also Be Interested In

• LBank Exchange Listed GFO (GoodFundOne)
• Faraday Future Founder and Global CEO YT Jia Shares Weekly Investor Update: Provides Updates on Positive June Sales Targets; Recaps June 16 Robotics and Education Ecosystem Product Launch; Previews Ju
• Torex Semiconductor Has Achieved "Zero" Current Consumption with Multi-Function Load Switch ICs XC8115/XC8116 Series