Black Stallion Oil and Gas has acquired the remaining 50% working interest in the Woodrow Prospect in the Alberta basin.
The company now holds a 100% working interest in the prospect in Montana.
Black Stallion said the prospect could offer multiple opportunities for possible success in oil and gas production across targets at shallow depths.
Black Stallion’s chief executive, George Drazenovic, said: “We’re fortunate to have acquired the remaining 50% working interest in such a large prospect in a region with this level of potential for domestic energy development and production.”
More than 80% of the Alberta Basin Bakken’s production has come from three large fields that are within 12 to 40 miles of the Woodrow Prospect.
A number of players are already working in the region including ExxonMobil, Shell and Occidental Petroleum.