PetroBakken to Sell Non-Core Saskatchewan Assets to Crescent Point -- The Williston Basin, But Not North Dakota, USA

PetroBakken to sell non-core southeast Saskatchewan assets to Crescent Point Energy for $427 million.

This appears not to affect assets in the North Dakota Bakken, but they do describe it as "Bakken light oil."

Currently producing 2,900 boepd; 20,360 net acres.

At $75/bbl, that 2,900 boepd might represent about $80 million/year.

$300 million/20,360 net acres --> $15,000 acre.

This is what PetroBakken says:

• $147,250 per flowing boe (January 2012 field estimate)
• $40.50 per boe of gross proved plus probable reserves (excluding future development capital of
  $67 million)
• 7 times annualized current cash flow
• 5.5% of December 2011 Company production

And this:

The Bakken Business Unit will continue to represent a significant portion of our corporate asset base as this sale represents only 7% of the Business Unit’s land holdings and approximately 12% of its production. Assuming successful completion of this Transaction, our average working interest in our remaining Bakken Business Unit lands will increase from 82% to 86% and we will continue to have over 700 net drilling locations in the Business Unit, representing approximately 10 years of drilling inventory.

 I find the "flowing boe" value most interesting: $150,000/flowing bbl.