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.