Natural Resource Partners LP (NYSE: NRP) signed a definitive agreement to acquire nonoperated working interests in Bakken/Three Forks oil and gas properties from an affiliate of Kaiser-Francis Oil Co. for $340 million, the company said Oct. 6.

The assets are in Sanish Field in Mountrail County, N.D., are all HBP and operated by Whiting Petroleum Corp. (NYSE: WLL), the company added. The acquisition should generate $58 million to $68 million of EBITDA in 2015, Natural Resource Partners said.

On about 5,700 net acres, there are 186 producing wells, and 10 in various development stages. The wells’ estimated average current production is about 3,100 barrels of oil equivalent per day, Natural Resource Partners said.

Evercore Group LLC was the company’s financial adviser, while Tudor, Pickering, Holt & Co. was Kaiser-Francis’ financial adviser, Natural Resource Partners noted.

The transaction is scheduled to close in November, and had an effective date of Oct. 1, the company added. This transaction, along with the VantaCore Partners acquisition, raises the company’s guidance range for 2014. Total revenues now range between $370 million to $390 million, while distributable cash flow ranges between $205 million and $230 million, Natural Resource Partners said.

In connection with the acquisition, Wells Fargo Bank NA committed to expand the borrowing base in the company’s oil and gas credit facility to $150 million. The company plans to use borrowings and other proceeds to fund the transaction. About 80% of the acquired current production volumes will be hedged through 2016 when the transaction closes, Natural Resource Partners added.

Company president Wyatt Hogan said that the acquisition “represents another significant step” to diversify the company.

Houston-based Natural Resource Partners LP is an MLP that owns interests in domestic oil, natural gas, coal and industrial minerals.