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Friday, June 10, 2022

Another "Silent" Deal In The Bakken? June 10, 2022

From the NDIC daily activity report, June 10, 2022.

Change of operator: 200+ wells in the North Dakota Bakken --

  • from: Resource Energy CAN-AM LLC
  • to: Formentera Operations LLC
  • here it is, effective November 1, 2021:  
    • Effective November 1, 2021, Formentera Operations LLC (“Formentera”) acquired Resource Energy Can-Am LLC’s (“Resource”) assets.
  • website: Formentera Operations.
  • not yet at "Well Search" at the NDIC web site;
  • based in Austin, TX
  • founded in 2022: Bryan Sheffield, Blake London, Paul Treadwell
  • first acquisition: assets in Texas panhandle, $121 million
    • production 30 million cubic feet equivalent per day from about 200 wells (conversion here) (or here).
      • these sound like stripper wells
      • not confirmed but likely were Oklahoma-based privately held Tapstone Energy's Stiles Ranch assets; link here.
    • if Bryan Sheffield sounds familiar, see this Forbes article
    • founded Parsley Energy in 2008
    • after Parsley acquired by Pioneer Natural Resources, Sheffield and two partners founded Formentera in 2020

Resource Energy Can-Am, LLC

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