Friday, January 26, 2018

Asleep At The Wheel -- Guilty As Charged -- January 26, 2018

I completely missed this. At least as far as I can tell. If I posted this, I have forgotten all about it.

For the archives.

From a press release:
  • date: September 1, 2017
  • RimRock, a start-up oil and gas exploration and production cmpany
  • on this date, completed the acquisition of upstream assets located in the Williston Basin
  • seller: Whiting
  • location: on the Fort Berthold Indian Reservation, Dunn and McLean counties
  • 30,000 net acres
  • $500 million
  • 8,000 bbls of oil/day
  • back-of-the-proverbial envelope: about $17,000 / net acre
  • average well in North Dakota, 100 bopd = at most 80 wells; probably much less (except this is the prolific Fort Berthold area; I might be surprised)
  • to the best of my knowledge the wells have not been transferred yet (I could be wrong)

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