Samson Oil & Gas has agreed to acquire 1,225 net acres across two 1,280-acre drilling units in the company's Rainbow Project area in Williams County, ND.The deal includes the exchange of acreage and drilling carries, but the details won't be released until the deal closes.

Samson believe the acreage acquired has potential for 16 wells, eight in the middle Bakken and eight in the first bench of the Three Forks. Samson will have a 52% interest in one unit and a 23% interest in the other.

Hess, Halcon, and Continental Resources also own interests in the Rainbow Project.