Dakota Oil and Gas

What Dakota Oil and Gas does

Dakota Oil & Gas, Inc. is a privately held, Colorado-incorporated oil and natural gas exploration and production (E&P) company founded in 2022 and headquartered in Arvada, Colorado, with operational offices in Midland, Texas and Abingdon, Virginia. The company pursues a dual-track strategy: acquiring and optimizing producing oil and gas assets in the Appalachian Basin while assembling a large-scale exploration position in South Dakota's Southern Williston Basin. Its producing-asset portfolio consists of 85 operated wells producing approximately 70 BOPD in Allegheny and Washington Counties, Pennsylvania (acquired via RockSauce Operating LLC in October 2024) and 127 coalbed methane wells in Dickenson and Buchanan Counties, Virginia (acquired via Appalachian Energy Inc. in July 2025).

The company's exploration thesis is built on five years of work by an experienced technical team that digitized and reinterpreted historical drilling data from 1950s-1970s South Dakota campaigns. Using modern geological analysis, the team identified a coherent, large-scale oil system previously underappreciated by majors including Shell and Gulf. Netherland, Sewell & Associates, Inc. (NSAI) independently validated this position with a P90 prospective resource estimate of approximately 1.5 billion barrels of oil and 300 BCF of natural gas, and a preliminary risked NPV10 of approximately $637 million based on a notional 390-well development program. Dakota currently controls 100,000+ acres under lease in South Dakota, expandable to 400,000+ acres.

Dakota generates revenue through the production and sale of oil and natural gas to refineries, midstream processors, and utilities. Pricing is determined by prevailing commodity markets rather than fixed contracts. The company raises capital through exempt securities offerings (Form D filings) and is led by CEO Tim Hart, Chairman Guy Goudy, and a board that includes recognized industry figures in EOR/CO2 flooding and global exploration. Customers are unnamed commodity off-takers rather than contracted enterprise buyers, and the asset base is concentrated domestically across three U.S. states.

Name

Dakota Oil and Gas

Legal name

Dakota Oil & Gas, Inc.

Website

https://dakotaoilandgas.com

Company type

Private

Founded year

2022

Operating status

Operating

Headcount range

1–10 employees

Short description

Dakota Oil & Gas is a privately held Colorado E&P company that acquires and optimizes producing oil and gas assets in the Appalachian Basin while building a 100,000+ acre exploration position in South Dakota targeting a reinterpreted underexplored oil system.

Ownership category

akta.pro rank

NAICS

Oil and Gas Extraction (2111), Oil and Gas Extraction (211), Crude Petroleum Extraction (21112), Natural Gas Extraction (211130)

SIC

Crude Petroleum & Natural Gas (1311), Drilling Oil & Gas Wells (1381)

akta.pro primary industry

Unconventional Resources Development (Shale/Tight, CBM) (EUALAAAH)

akta.pro secondary industries

Drilling & Well Construction (E&P Operator-led) (EUALAAAD), Onshore Natural Gas E&P (Conventional Fields) (EUAAAAAG), Field Development & EOR/IOR for Gas (Compression, Refracturing, Reservoir Management) (EUAAAAAM), Well Completions & Stimulation (Hydraulic Fracturing, Sand Control) (EUALAAAE)

Keywords

• Oil and gas exploration
• Upstream energy production
• Natural gas operations
• Petroleum asset acquisition
• Acreage development services

Headquarters

HQ city

Arvada

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Supply Chain, Technology or R&D, Infrastructure

Revenue model

1. Oil and Natural Gas Production: Dakota Oil & Gas generates revenue through the production and sale of oil and natural gas from their diversified portfolio of producing assets. The company manages a diversified portfolio of oil and natural gas fields with focus on operational discipline, production integrity, and long-term asset performance.
2. Asset Acquisition and Optimization: Revenue is generated by acquiring producing assets, optimizing operations, and potentially divesting assets. The company focuses on acquiring producing well packages, mature asset optimization, and strategic working interest acquisitions.

Pricing tiers

Go-to-market motion2 records

Distribution channels1 record

Marketing channels4 records

Core offering

Dakota Oil & Gas, Inc. is an oil and gas exploration and production company that acquires, develops, and operates producing oil and natural gas assets across the Appalachian Basin and South Dakota. The company generates revenue through the production and sale of crude oil, natural gas, and coalbed methane from a diversified portfolio of operated wells, supplemented by strategic acquisitions of producing well packages and working interests. Its portfolio includes 85 producing wells in Pennsylvania (acquired via RockSauce Operating LLC), 127 coalbed methane wells in Virginia (acquired via Appalachian Energy Inc.), and a 100,000+ acre leasehold position in South Dakota targeting underexplored oil systems.

Product overview

Dakota Oil & Gas Inc. is an oil and gas exploration and production company that operates as a single, unified business rather than a platform-plus-modules architecture. The company's core offering encompasses oil and natural gas production operations, coalbed methane asset development, strategic acreage acquisition, and operational optimization services. The primary products and services include oil and natural gas production from diversified portfolios, coalbed methane well operations, producing asset acquisitions, and exploration activities focused on South Dakota's underexplored oil systems. The company generates revenue through the production and sale of oil and natural gas, supplemented by strategic acquisitions of producing properties and partnerships with working interest opportunities.

Differentiator

Problem solved

Functional benefit

Quantifiable outcome

• NSAI estimated P90 prospective resource of approximately 1.5 billion barrels of oil and 300 billion cubic feet of natural gas across 100,000 acre South Dakota position
• +3 more outcomes

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Three partnerships are on record, tiered core.

• Netherland, Sewell & Associates, Inc. (NSAI)coreOthers · 2 June 2026Dakota commissioned Netherland, Sewell & Associates, Inc. (NSAI) to undertake a preliminary scoping analysis on a portion of its South Dakota acreage. NSAI prepared an independent preliminary economic assessment estimating P90 prospective resource of approximately 1.5 billion barrels of oil and 300 billion cubic feet of natural gas, and estimated a preliminary risked NPV10 of approximately $637 million.
• Appalachian Energy Inc.coreStrategic or Co-development PartnerDakota Oil & Gas acquired Appalachian Energy Inc., an operator of coalbed methane assets located in Dickenson and Buchanan Counties, Virginia. The acquisition adds 127 producing coalbed methane wells and expands Dakota's natural gas footprint in the Appalachian region.
• RockSauce Operating LLCcoreStrategic or Co-development PartnerDakota Oil & Gas acquired RockSauce Operating LLC, a privately held operator with producing assets in Allegheny and Washington Counties, Pennsylvania. The transaction added 85 operated wells and approximately 70 BOPD of current production, strengthening Dakota's position in the Appalachian Basin.

Scale indicators6 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Ring Energy: Small independent E&P with producing assets in the Appalachian Basin, including Pennsylvania. Comparable in operating philosophy, conventional-asset focus, and small-cap scale.
• SandRidge Energy: Small-cap independent E&P focused on mature asset acquisition, redevelopment, and operational optimization. Comparable strategy of acquiring and optimizing producing assets rather than greenfield exploration at scale.
• Earthstone Energy: Small-cap independent E&P with multi-basin conventional assets and an active acquisition-led growth strategy. Comparable in operational scale, basin diversification, and acquisition-led value creation playbook.
• Diversified Energy Company: U.S./U.K.-listed acquirer and operator of mature, producing oil and gas wells, including CBM assets. Highly comparable business model of buying mature well packages and optimizing production — exactly Dakota's stated M&A approach.
• Austin Exploration: Small E&P formerly led by Dakota's Chairman Guy Goudy, scaled from startup to a $100M+ E&P. Closely comparable in growth-stage profile, disciplined acquisition approach, and asset-acquisition strategy.
• Contango Oil & Gas: Small-cap independent E&P pursuing a mix of producing assets and exploration upside. Comparable scale and hybrid production/exploration strategy.
• Epsilon Energy: Small-cap independent E&P with operating assets in the Appalachian Basin (Pennsylvania). Comparable asset base, small-cap profile, and conventional production focus.
• AXP Energy: Small-cap E&P company led by Dakota's current CEO Tim Hart prior to joining Dakota. Both pursue upstream oil and gas with similar asset-acquisition and production-optimization strategies. Highly comparable in business model and operational scale.

Broad incumbents

• CNX Resources: Largest pure-play coalbed methane producer in the U.S. with significant Appalachian acreage. Overlaps with Dakota's Appalachian Energy Inc. CBM acquisition as a relevant comparable for that asset class.
• Whiting Petroleum: Mid-cap independent E&P with significant Williston Basin (North Dakota) acreage exposure — adjacent geography to Dakota's South Dakota play. Relevant comparable for basin geology, scale of operation, and Williston exploration analogs.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights5 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds2 records

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Dakota Oil and Gas