Friday, September 10, 2021

The Whiting $271 Million Sanish Deal -- Update -- September 10, 2021

See this note.

Whiting Petroleum announced this week it has entered into an agreement with an undisclosed seller to acquire 8,752 net acres in Mountrail County for total cash consideration of $271 million. [Undisclosed seller in the Sanish. Slawson?]

A reader was kind enough to send a copy of Whiting's "Summer 2021" corporate presentation. In that presentation: a "map" of the "bolt-on addition." My earlier thoughts, the seller might have been Slawson. That's still possible but looking at Whiting's presentation and comparing data presented to the NDIC map suggests that the seller may have been Kraken. 

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