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Pogo Buys N.D. Land

Pogo Producing (PPP - Get Report), an explorer and producer of oil and natural gas, said it acquired about 46,000 net leasehold acres in the Bakken Shale play, located in North Dakota.

"We are pleased to announce the acquisition of some very intriguing Bakken Shale leases, a newly emerging unconventional resource target, thereby building Pogo's inventory of prospective onshore acreage," the company said. "With this new operational area, Pogo strengthens its onshore North American presence, now totaling more than 275,000 net leasehold acres of prime unconventional resources, including the Mannville and Ardley Coal Bed Methane plays in Alberta, the New Albany Shale in southwestern Indiana, the Barnett Shale in north Texas and now, the Bakken Shale play in North Dakota."

The Houston-based company expects to drill the first two horizontal wells on this new acreage during the fourth quarter of this year.

This story was created through a joint venture between TheStreet.com and IRIS.

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