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EOX > SEC Filings for EOX > Form 8-K on 13-Feb-2014All Recent SEC Filings

Show all filings for EMERALD OIL, INC.

Form 8-K for EMERALD OIL, INC.


Completion of Acquisition or Disposition of Assets, Financial Statements and Ex

Item 2.01 Completion of Acquisition or Disposition of Assets.

On February 13, 2013, Emerald Oil, Inc. (the "Company"), completed the previously announced acquisition of certain oil and gas properties and assets located in Williams and McKenzie Counties, North Dakota, including operated working interests in approximately 19,500 net acres in the Williston Basin, from Kodiak Oil & Gas (USA) Inc. for approximately $69.2 million in cash. Net daily production from the acquired acreage is approximately 300 barrels of oil equivalent per day as of February 12, 2014.

The foregoing summary of the transaction does not purport to be complete and is subject to, and qualified in its entirety by, the full text of the Purchase and Sale Agreement, which was filed as Exhibit 2.1 to the Company's Current Report on Form 8-K on January 10, 2014, and is incorporated herein by reference. The representations and warranties of the parties in the Purchase and Sale Agreement are, in many respects, qualified by materiality and limited to the knowledge of the entity making the representation and warranty, but their accuracy forms the basis of one of the conditions to the obligations of the parties to complete the transaction. These representations and warranties were made only for purposes of the Purchase and Sale Agreement and as of specific dates, were solely for the benefit of the parties thereto, and are subject to limitations agreed to between the parties, including that they are qualified by disclosures between the parties that are not included with this report. Accordingly, investors and third parties should not rely on these representations and warranties as independent characterizations of the actual state of facts at the time they were made or otherwise but should consider them together with the other information that the Company has disclosed in other filings with the SEC.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits. The following exhibit is furnished as part of this current report on Form 8-K:

2.1 Purchase and Sale Agreement, dated as of January 9, 2014, by and between Emerald Oil, Inc. and Kodiak Oil & Gas (USA) Inc. (incorporated by reference to the Current Report on Form 8-K filed on January 10, 2014).

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