Emerald Signs Agreement With Private Equity Firm In New York City

Link here to Fairfield Sun-Times.

The story line is obviously important:

Emerald Oil, Inc., based in Denver, Colorado, this week announced the company had signed a definitive letter of agreement with White Deer Energy, a private energy equity firm with offices in Houston and New York. Emerald will issue and sell $50 million of Perpetual Preferred Stock to White Deer.

But for me the data points regarding Emerald Oil is more important:

In Musselshell, Petroleum, Garfield and Fergus Counties of Montana, Emerald holds 33,500 net acres in the “Heath Play.” 

In Hill, Chouteau, Blaine and Fergus Counties in Montana, Emerald has 74,700 net acres in the “Tiger Ridge” area, which has been in production since the 1960’s.