Top ND Bakken Producers -- Devon-Grayson Mill Deal Changes Landscape -- July 10, 2024

Locator: 48095B.

The Devon - Grayson Mill deal changes the landscape in the Bakken.

From Forbes:

The deal with private equity-owned Grayson Mill more than triples Devon’s footprint in the Williston, adding 307,000 net acres to its existing 123,000 acre position there.

It also adds roughly 500 drilling locations to Devon’s inventory, along with more than 100,000 barrels of oil per day (bopd) of existing production.

Overall, Devon expects its equity production to rise from the current 674,000 bopd to about 765,000 bopd. Enverus Intelligence Research principal analyst Andrew Dittmar tells me that the deal “vaults Devon from the 10th largest producer in the Williston based on gross operated production to fourth.”

In the chart below, we need to add Devon + Grayson Mill.

Rounding, it looks like, with regard to production:

• Chord + Enerplus will about equal CLR;
• COP + MRO will be about one-half that of CLR or Chord + Enerplus:
• HES will be a bit less than COP + MRO;
• Devon + Grayson Mill;  
• XOM (XTO) could be about half of HES

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Top ND Bakken Producers

Re-posting: the information below was posted prior to the Devon - Grayson Mill announcement.

Locator: 48034B.

Deals affecting the Bakken are posted at the sidebar at the right. 

This was posted some weeks ago.

This is fairly old news and I assume "everybody" that needs to know, knows, and it's only me who keeps forgetting.

But for the archives:

Some mineral owners in the Bakken may be receiving royalties from MRO.

MRO could remain a wholly-owned subsidiary of COP and and royalties still coming from MRO.

Or MRO could be absorbed by BR (a wholly-owned subsidiary of COP) or something entirely else.

We won't know for awhile. Or maybe someone one knows and I don't know.

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East Daley: MRO, COP, And The Bakken

The East Daley note referenced above was posted June 6, 2024, and is linked here.

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Producers

Rounding, it looks like, with regard to production:

• Chord + Enerplus will about equal CLR;
• COP + MRO will be about one-half that of CLR or Chord + Enerplus:
• HES will be a bit less than COP + MRO;
• XOM (XTO) could be about half of HES

So:

• the "big names"
  
• 1 unit: Chord + Enerplus    16/16
• 1 unit: CLR                        16/16
• 1/2 unit: COP + MRO        8/16
• 3/8 unit: HES                        6/16
• 3/16 unit: XOM                    3/16
• all of those "big names" totaled will equal about one-half of Bakken's total production; "others" would include:
• Kraken + Neptune
• Grayson Mill
• Zavanna
  
• EOG
  
• Petro-Shale
• Phoenix
  
• Hunt
• Slawson 
• Iron Oil Operating
• Empire North Dakota
• SOGC (Sinclair)
• KODA Resources
• Murex 
• True Oil
• Spotted Hawk, and,
• many others
  

Reminder:

• Chord was a merger of Oasis with Whiting;
• Chord is now buying Enerplus