Deal Insight
Equinor exits the Bakken in US$900 million sale
Report summary
Equinor has agreed to sell its Bakken position to Grayson Mill Energy, backed by EnCap, for US$900 million. The transaction includes 242,000 net acres with ~880 producing Bakken and Three Forks wells. Production as of Q4 2020 was 48,000 boe/d with 69% oil. We think Grayson Mill purchased the assets at a heavy discount to PDP due to lack of PUD upside.
Table of contents
- Executive summary
- Transaction details
- Upstream assets
- Deal analysis
- Upsides and risks
- Strategic rationale
- Oil & gas pricing and assumptions
Tables and charts
This report includes 11 images and tables including:
- Executive summary: Table 1
- Equinor Bakken activity (Middle Bakken Formation Depth)
- Bakken well performance by operator
- Bakken decline rate by operator
- Bakken flaring intensity by operator
- Upstream assets: Table 1
- Deal analysis: Table 1
- Deal analysis: Table 2
- Deal analysis: Table 3
- Oil & gas pricing and assumptions: Table 1
- Oil & gas pricing and assumptions: Table 2
What's included
This report contains:
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