Mainstream Investors LLC, a North Dakota-based private investment firm, announced on Dec. 9 that it will commit an additional $10 million toward oil and gas production in western North Dakota’s Williston Basin in 2014. The region is renowned for its Bakken formation, one of the largest shale oil reserves in North America.
“The need for capital in the Williston Basin is significant and is accelerating at a spectacular pace,” said Mark Anderson, president and CEO of Mainstream Investors. “With improvements in drilling and fracking techniques, operators have been able to reduce overall well costs, increase well productivity and modify their drilling programs to include more wells. This has created an even greater demand for capital. Mainstream Investors was created to help meet that demand.”
Mainstream participates in energy production through the purchase of mineral interests, leasehold interests and royalty interests, as well as through the purchase of AFEs, or “Authorization for Expenditures,” the industry’s means of invoicing non-operators for their share of drilling and completion expenses.