Updates
Later, 10:16 p.m. CT: see first comment. A reader comes up with what he thinks COP (BR) will sell in the Bakken. From the reader:
My guess is they sell their field in Montana west of Fairview, and the wells they have that are scattered out south of Highway 200. They keep the Corral Creek unit, and their fields around Keene, and Johnson’s Corner. Enerplus could easily pick up the wells that are south of 200, as they are mixed in with the wells Enerplus bought from Hess. Not sure if Enerplus would buy the Montana field or not but I believe they do have some wells in Montana already.
Original Post
Montana and North Dakota Bakken assets. Could fetch $200 million.
This is clearly not all of COP's assets in the Bakken. If numbers are accurate, then simply doing what Hess did: consolidating acreage in the Bakken, selling off "non-core" assets in North Dakota and Montana.
See link at twitter, with comments.
Most likely buyer? Enerplus? Depends on where the non-core acreage is.
But $200 million / $2,000 per acre works out to 100,000 acres.
From "operators in the Bakken."
COP (in the Bakken: wholly-owned subsidiary, Burlington Resources) -- is now followed here.
- July 2, 2021: special call -- ten-year strategic plan following the acquisition of Concho
- 620,000 net acres in the Bakken
- currently no active rigs in the Bakken (link here)
My guess is they sell their field in Montana west of Fairview, and the wells they have that are scattered out south of Highway 200. They keep the Corral Creek unit, and their fields around Keene, and Johnson’s Corner. Enerplus could easily pick up the wells that are south of 200, as they are mixed in with the wells Enerplus bought from Hess. Not sure if Enerplus would buy the Montana field or not but I believe they do have some wells in Montana already.
ReplyDeleteCan't disagree. It will be interesting to watch this play out.
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