Deal Insight
SM Energy sells 55,000 net acres in the Bakken to Oasis Petroleum for US$785 million
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*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
SM Energy announced two transactions on 18 October 2016, acquiring acreage in the Midland basin from QStar for US$1.6 billion, while divesting its non-core Williston basin assets to Oasis Petroleum for US$785 million. In the Bakken, pure-player Oasis Petroleum adds to its Williston Basin position by acquiring 55,000 net acres. This acreage includes 12,400 boe/d of flowing production from 226 gross operated wells. We estimate the newly acquired position will add 126 gross (82 net) locations across two target benches: the Bakken and Three Forks. For more information on SM Energy's concurrent Midland basin acquisition, please see SM Energy adds to record year for Permian M&A with US$1.6 billion Midland Basin acquisition.
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 the following images and tables:
- Executive summary: Table 1
- Oasis Petroleum and SM Energy Williston wells
- 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:
