OAS Buys QEP's Bakken Assets From FANG -- Got That? -- May 3, 2021

This is getting to be as complicated as the NFL draft. 

First, remember this from "Deals in 2020":

One of the deals: FANG buys QEP.

Naturally the first thought: what happens to QEP's assets in the Bakken? Certainly FANG isn't about to enter the Bakken.

Now, we know. 

Oasis buys QEP's assets in the Bakken from FANG. 

How CLR did not grab this is beyond me. 

95,000 net acres.

$745 million.

$745 million / 95,000 net acres = $8,000 / acre. 

Huge thanks to a reader for alerting me to this story. Thank you. 

Oasis had 402,000 net acres in North Dakota; now with 497,000 net acres. 

Current presentations here. 

Streetinsider report here, 1Q21:

• EPS: $4.34 vs analyst estimate of $2.56 / share
• revenue: $355.5 million vs estimate of $225 million

Oasis is tracked here.