August 29, 2011
FOR IMMEDIATE RELEASE
Contact: Nancy Thompson, 248-496-4965
WARD WILLISTON OIL COMPANY DIVESTS OILFIELD SERVICE DIVISION TO
AN AFFILIATE OF MISSOURI BASIN WELL SERVICE, INC.
Bloomfield Hills, MI. August 29, 2011, Ward Williston Oil Company announced that it has successfully divested the Oil Field Service Division of the company, located in Westhope, North Dakota.
Ward Williston recently sold all of its oilfield service assets for an undisclosed amount to an affiliate of Missouri Basin Well Service, Inc., a company that has been in operation in North Dakota since 1979.
"We felt the Missouri Basin Well Service culture matches ours very well and they would provide an incredible opportunity for all our employees," said Ward Williston CEO, Thomas Cunnington. "We knew this company would be a good owner and provide long-term stability for our employees, customers and suppliers."
The oilfield service division was fully divested and included 170 personnel and all the service equipment and buildings. Operations will continue to be run out of the main office in Westhope and the branch offices in Lignite and Stanley, North Dakota.
Ward Williston Oil Company, a multi-award winning corporation with holdings throughout North Dakota, Michigan and Colorado, will remain an active exploration and production company in the North Dakota oil industry.
"This divestiture allows us to concentrate on increasing our proved reserves and production through acquisitions and field development," said Ward Williston COO, Nathan Conway.
The strategic plan for Ward Williston including various partnerships and joint ventures,
incorporates an aggressive exploration and production plan for 2012.
The seasoned management team, headquartered in Bloomfield Hills, Michigan, maintains a large inventory of low-risk, infield development drilling prospects with a potential for acquisitions as larger producers leave non-core areas.
Ward Williston Oil Company is well known in North Dakota and has the distinction of drilling the second producing well in North Dakota over 60 years ago, placing them as a pioneer in the state's oil industry. www.wardwilliston.com.
About Ward Williston
Ward Williston is an independent oil producer and service company with operations in the Williston Basin of North Dakota and in Michigan. In addition to operating its own oil wells, Ward Williston provides a wide range of production services to major oil companies and independent companies throughout North Dakota.