Tuesday, September 4, 2012

Buyout Candidates -- Second Half of 2012 -- The Bakken

Mike Filloon link here, buyout candidates in the Bakken, Part III.

See first comment regarding Part I and Part II of this series.

From Part III, the first link:
Exxon, Conoco, and even Chevron, will be looking for big purchases if and when it begins to acquire acreage. The companies will be looking for acreage on and around the Nesson Anticline as most of the big players have done. This is why Continental Resources becomes interesting. It has approximately 1 million acres, and continues to add. Of this acreage, a very large portion is in the vicinity of the Nesson Anticline. Although I find it hard to believe that Harold Hamm would be motivated to sell, all three companies could come up with the $19 billion to purchase this company.  
This would be a great introduction to the Bakken for Chevron.  
Whiting is another target. It has 712,000 net acres in the Bakken, but its acreage position differs from Continental and the company would be easier to buy. Whiting's acreage is not as good, but still interesting. Its Sanish acreage is probably its best from a Bakken/Three Forks standpoint, but its Tarpon acreage has the best well to date in the Bakken. It also has the largest acreage position with the Pronghorn Sands as the main target.  
All three could also be interested in Oasis and Kodiak. It is safe to say that at least one of the Big Three will be the top lease holder in the Williston Basin sometime in the future.

5 comments:

  1. Eats anbd Treats in Bowman is open only several more weeks.. i can taste the hamburger already..

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    1. I still think if there is any major deal done in the Bakken in the next 12 months, it will be something completely unexpected. I don't recall any Statoil talk before they bought BEXP; and, certainly no QEP/Helis talk before that deal.

      I still think EOG is a prime candidate for any deal involving the Bakken or Eagle Ford in the next 12 months.

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  2. I believe Part I and II of Mikes articles are from 8/31 and 9/1.

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    1. Thank you. I will have to correct that. The links at his article were confusing to say the least.

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  3. I have contended for some time that Kodiak would be at the top of the list for a buyout specifically because of their holdings and locations. Triangle is still in the process of leasing in Williams County (top leasing) and I don't think this company will bought out until they make their entire holdings more attractive which should occur over the next year. Oasis and Kodiak appear to be in the bulls eye for buyouts but I don't see Continental selling over the next couple of years. If Exxon made Mr. Hamm the offer they are capapble of, this could change immediately.

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