Tuesday, December 29, 2015

Random Update Of Wells Being Transferred -- North Dakota -- December 29, 2015


March 29, 2016: in today's daily activity report, about 65 wells were transferred from Whiting to NP Resources.
Original Post
Probably before the end of January, 2016, but certainly before the end of 1Q16 we should finally see who bought MDU/Fidelity assets in the Bakken. Transfer of well ownership / operator is recorded in the daily activity reports. One of the longest list of transfers was when "Hess" transferred it's Bakken operations to its subsidiary "Hess Bakken" some time ago. I forget when that was, but it was a long list. [Update: it was reported January 2, 2014; here is the link -- 28 pages of wells transferred.]

I track "Bakken Deals" at the sidebar at the right. Deals prior to 2015 are noted here.

The Bismarck Tribune has a story on this issue today. Apparently the number of wells that are being transferred has grown to more than 1,000, and more requests are coming in daily. Another link. And another link.

Some data points:
  • OXY USA: selling 346 wells, more than any other company; Lime Rock Resources acquired the wells; previously reported
  • Whiting: selling 331 wells to five companies; no further information; not previously reported on the blog
  • Fidelity: selling 162 wells; a sale previously announced to five different companies, but not the specifics
  • Corinthian Exploration: selling 92 wells; not previously reported on the blog
  • American Eagle: selling 87 wells; not previously reported on the blog
American Eagle assets to Resource Energy Can-Am
New Operators

Also in The Bismarck Tribune article is the list of seven new operators in North Dakota in 2015:
  • Swanson Oilfield Services; Clarinda, IA -- not previously reported on the blog
  • Prairie Hills Oil and Gas; Big Lake, MN
  • Resource Energy Can-Am, Highlands Ranch, CO -- not previously reported on the blog
  • Cobra Oil & Gas; Wichita Falls, TX -- not previously reported on the blog
  • Foundation Energy Management; Dallas, TX -- not previously reported on the blog
  • Scout Energy Management; Dallas, TX -- not previously reported on the blog
  • White Rock Oil & Gas; Dallas, TX 
Back in 2014 (list not complete):
  • Missouri River Resources, ND
Back in 2013 (list not complete):
  • Stephens Production
I track Bakken operators here

Again, the daily activity reports will record wells that are transferred.

For The Archives

From 1Derrick.com, back on September 21, 2015:
Energy 11 LP has entered into an Interest Purchase Agreement ... for the potential purchase of certain of the limited liability company interests in Kaiser-Whiting, resulting in an 11.5% working interest in approximately 215 existing producing wells and approximately 262 future development locations in the Sanish field located in Mountrail County, North Dakota.
On the closing of the agreement, Energy 11 LP will be a non-operator of the field, with Whiting acting as operator. The anticipated drilling capital expenditure requirements for the Sanish field assets is estimated to be $75 million through 2020. 
Pursuant to the agreement, the cash purchase price for the transferred interests consists of (i) an initial $160 million payable at closing subject to customary adjustments, (ii) an aggregate of $2 million, payable in equal amounts on 31-Dec-2016 and 31-Dec-2017 and (iii) a contingent payment of up to $95 million to be paid on 1-Jan-2018.

No comments:

Post a Comment