QEP To Acquire 27,600 Net Acres in Core/Central Bakken; Price Tag: $1.38 Billion

Helis link here.
Black Hills Corp link here.
Huge "thank you" to Chris.

There's much more in the deal than just de-risked acres, but $1.38 billion/27,600 acres --> $50,000/acre.

More to follow.

But you can read all about it at the links.

Note: Acquired assets and acreage from Helis. I've been blogging about Helis and their outstanding wells in Grail and Croff oil fields.  Also, some acreage from Black Hills Corporation.

This was my "snapshot" of QEP before this deal was announced:

• 4Q11 (Filloon): 90,000 net acres: most of it inside the reservation
• Three rigs; will add a fourth in 2012 (1Q12 report)
• 4Q11: 5,019 boepd 
• 4Q11 (Filloon): Most interesting: it's proposed 10-well pad; first test of 5 MB and 5 TF from one pad
• Still natural gas heavy

Note that last bullet and that was taken from late 2011, less than a year ago.