Published 09 January 2012
Intervention Energy has signed a financing deal with EIG Global Energy Partners whereby EIG will provide up to $200m in senior secured notes to finance well development costs for Intervention Energy's holdings targeting the Bakken and Three Forks formations in the US.
Intervention Energy now controls over 55,000 net acres in the US states of North Dakota and Montana, and to date, the company has funded investments in over 100 producing wells.
Intervention Energy president John Zimmerman said this agreement represents a transformational step forward for the company and will enable it to meet its well funding obligations for the foreseeable future.
US-based Intervention Energy is a privately held non-operating oil and gas exploration and production firm focused on North Dakota and Montana.
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