Highlands Natural Resources has pushed ahead with its strategy to capitalise on the low oil price, snapping up a North Dakota bargain.
The London listed oil and gas company has acquired 1,900 acres in the Williston Basin, North Dakota for $19,000.
A company spokesperson said the move was “in line with its strategy to capitalise on the current oil price environment to acquire assets at a low cost”.
Highlands chief executive, Robert Price, added: “This land has been acquired at an extremely low cost and due to its location, it fits well with our strategy to take advantage of the oil price environment to acquire quality assets.
“We will provide further information in due course regarding the land and its potential.
“Additionally, we continue to work with the UKLA to return our shares to trading.”