U.S. Energy Development Corp. acquired a 25% working interest in the Midland Basin’s Mascot Project, which include at least 50 undeveloped well locations.
NOG now holds a 39.958% working interest in Midland-Petro D.C. Partners’ Mascot Project, a 3.25% increase after the company kicked in another $29 million.
In its latest acquisition, NOG agreed to acquire a 36.7% working interest in the Mascot Project from Midland-Petro D.C. Partners LLC in Midland County, Texas, for a purchase price of $330 million in cash.