From today's NDIC daily activity report:
Change of operator, from Hess to Enerplus, about 600 wells were transferred from Hess to Enerplus:
- 12+ pages of wells
- 50+ wells on each page
- scrolling through the list, approximately:
- 60% in Dunn County
- 30% in McKenzie County
- 10% in Williams County
This asset transfer was announced back in April, 2021. Many links, this is one from Reuters.
Canada’s Enerplus Corp said it would buy some assets in North Dakota’s Williston Basin from Hess Corp for $312 million, as improved oil price expectations have buoyed mergers and acquisitions in North America.
Canada’s oil and gas sector had a record start to 2021 in terms of mergers and acquisitions as the energy sector benefits from a rebound in oil prices from the pandemic-led crash last year, and as smaller companies bet on economies of scale.
Enerplus said it will buy 78,700 net acres in North Dakota, adjacent to its current core Bakken acreage, with about 6,000 barrels of oil equivalent per day (boepd) of working interest production from Hess.
On the blog, see this post.
$312 million / 600 wells = $500,000 / well.
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