Several Bakken companies have announced aggressive CAPEX plans this past year. To raise the necessary cash, some companies have had to sell assets in the Bakken.
This provides an opportunity for other companies, not always oil companies, to get a foot inside the Bakken door.
In addition, it provides investors, surface owners, and mineral rights owners an idea of how to estimate value of their holdings.
In this story, SM Energy sold Bakken reserves to a partnership between GE Financial and Sequel Energy LLC.
In this particular deal, SM Energy sold 20 million boe in proved reserves and 3,000 bopped production for $137 million. The buyers got the reserves for $6.85/barrel, and the production for free.
