Encore Acquisition Co., Fort Worth, Texas, (NYSE: EAC) plans to acquire oil and gas properties in the Williston Basin in Montana and North Dakota from Howell Petroleum Corp. and Kerr-McGee Oil and Gas Onshore LP, subsidiaries of Anadarko Petroleum Corp., The Woodlands, Texas, (NYSE: APC) for $410 million in cash. Encore earlier in January announced its plans to acquire properties in the Big Horn Basin in Wyoming from subsidiaries of Anadarko for $400 million in cash. Combined with the Montana and North Dakota acquisition, the total price will be $810 million. The Williston Basin properties consist of more than 50 fields with approximately 70,000 net acres in the Bakken play in Montana and North Dakota. Production is 5,000 net barrels of oil equivalent per day. Total proved reserves are approximately 21 million barrels equivalent (90% oil, 81% proved developed producing). Anardarko operates approximately 93% of the properties, and Encore will operate 85% after closing.
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