Williston Basin

Emerald has approximately 122,000 net acres in the Williston Basin in North Dakota and Montana. The Williston Basin contains one of the largest shale oil accumulations in North America. Emerald primarily targets the Middle Bakken and Three Forks formations in its development drilling. We believe our concentrated Williston Basin leasehold position will allow the Company to generate substantial production growth and allow us to realize future cost efficiencies from operating from such a large contiguous position. Emerald continues to actively expand its leasehold position in the basin.