Getting your player ready...
Hallador Energy Co. shares jumped more than 6 percent today on news the Denver company has signed a letter of intent with an undisclosed independent oil and gas company to sell its undeveloped leases in North Dakota covering approximately 10,000 acres. These leases are in the Bakken-Three Forks oil play and the buyer wlll be purchasing 90 percent of Hallador’s interest at $13.5 million.
Hallador said it expects to have a signed purchase and sale agreement in the next two week and expect closing to occur on or before July 29, 2011.
“We are very excited about this sale. The Bakken-Three Forks play is one of the most active oil plays in the United States,” said CEO Victor Stabio.
