August has led to a flurry of activity in the U.S. energy industry. Bowline Energy LLC, a private exploration and production company, recently announced the purchase of Nine Point Energy’s Williston Basin assets. The purchase was effectuated through a Chapter 11 bankruptcy process approved by the judge on August 9, 2021.
“The Williston Basin remains one of the active, premier oil and gas basins in the United States,” said Bowline Energy, in a prepared press release. “The purchase of the Nine Point assets gives Bowline a strong production base and steady cash flows through its operational growth.”
Bowline expects to commence a development program funded out of cash flows and begin evaluating strategic merger and acquisition opportunities in the near future.