Energy firm spends $925M for land on North Dakota reservation
The Williams energy company announced it will spend $925 million to acquire land on the Fort Berthold Reservation in North Dakota.

The company said it is buying about 85,800 acres from "private" owners on the reservation. The land is part of the Bakken Formation and will be used for oil development.

"We're excited about what this transaction means to the future of our drilling portfolio, as well as the opportunities before us to build new relationships in North Dakota and with the Three Affiliated Tribes – the Mandan, Hidatsa and Arikara – who call the area around these properties home," Williams' chairman Steve Malcolm said in a press release.

The company said it expects to complete the purchase of the land by the end of this year.

Get the Story:
Williams investment to boost crude oil profile (The Tulsa World 11/16)
Williams to spend $925M on North Dakota oil fields (AP 11/16)

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BLM distributes $5M in overdue trust payments at Fort Berthold (10/21)