Grayson Mill — New Bakken Operator — Equinor Exits The Bakken -- Pivots To Wind Turbines And Green Energy -- February 10, 2021

Locator: 10001GM.

Updates

April 7, 2023: acquires all Ovintiv Bakken assets.

• $825 million
• 46,000 net acres

Original Post

Link here.  

• few details given
• all assets sold to Grayson Mill Energy, a company backed by private equity firm EnCap Investments
• $900 billion
• follows sale of Eagle Ford assets for $325 million to Repsol in November, 2019
• last time I updated Equinor was back in 2012
• Equinor had whittled its Bakken assets down to 242,000 net acres at the time of the sale
• $900 million / 242,000 = $3,700 / acre
• was producing 48,000 boepd at the time of the sale from the Bakken
• 48,000 x $25 = $1.2 million / day; $450 million / year
  

Grayson Mill Energy (not to be confused with Pearl Milling, a brand of pancake syrup)

• website;
• privately held oil and gas exploration and production company
• Houston-based

EnCap Investments, L. P.

• website;
• wiki; 

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Equinor Pivoting To Green Energy

Likes wind turbines. Link here.

So, if you want to invest in an oil company, you may want to look elsewhere.

If you like wind farms, Equinor is for you. 

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