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Equinor Wraps Up Sale of Bakken Assets to PE-Backed Grayson Mill
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Equinor has finalized its $900MM sale of its Bakken assets to EnCap-backed Grayson Mill Energy.
The deal was initially announced on February 10, 2021 and it marks Equinor's exit from the play.
Equinor will continue to operate the assets up to four months after closing as part of a transition service agreement with Grayson Mill Energy. Nearly all field staff and many of those in the support teams working on the Bakken assets will transfer to Grayson Mill Energy upon the conclusion of their transition duties within Equinor.
Equinor Marketing and Trading will purchase crude offtake from the Bakken assets through a separate long-term purchase agreement with Grayson Mill Energy.
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