Statoil acquires Bakken focused Brigham for US$4.7 billion
Statoil has announced the acquisition of Brigham Exploration for US$4.7 billion. The move positions the Norwegian giant as a major operator in the Bakken Shale - one of the leading tight oil plays in North America. This is by far the largest tight oil focussed deal to date, the first significant transaction by a Major, and a clear illustration of the intense industry interest in this burgeoning sector. Brigham holds 375,000 net acres of Tier 1 acreage in North Dakota and Montana. The ...