Deal insight

SM Energy sells 55,000 net acres in the Bakken to Oasis Petroleum for US$785 million

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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.

What's included

This report contains

  • Document

    SM Energy sells 55,000 net acres in the Bakken to Oasis Petroleum for US$785 million

    PDF 630.22 KB

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 8 images and tables including:

Images

  • Oasis Petroleum and SM Energy Williston wells

Tables

  • Executive summary: Table 1
  • 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

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