Northern Oil and Gas Inc., Wayzata, Minn., (Amex: NOG) plans to acquire oil and gas leases in the Bakken shale of North Dakota from Houston-based Woodstone Resources LLC for $9.3 million.

The assets include 42,277 gross acres (23,210 net) in Dunn County. This increases Northern’s holdings in the Bakken trend to 60,000 net acres.

Northern chief executive Michael Reger says, “After beginning in Mountrail County, North Dakota, leading exploration companies continue to have significant Bakken exploration success to both the north and south. Exploration success in Dunn County is plentiful and Northern's newly acquired acreage appears to be in the fairway of that success, expanding our exposure into the southern region of the play.”

Northern can acquire an additional 5,000 net acres in Dunn County from Woodstone if Woodstone successfully acquires additional acreage within 90 days of the deal’s closing. Northern has paid $1.5 million and will pay the balance at closing.

The deal is expected to close by July 10.