One-Page Deal Sheet
Abraxas Sells Non-Op Bakken Property for $15.5MM
Not Disclosed Abraxas Petroleum Corp.
Announced Date
June 05,2019
Close Date
June 05,2019
Transaction Type
Property
Enterprise Value (EV)($MM)
16
Location
Calculated Metrics( EV/Category)
Region
Williston Basin
Country
United States
State
North Dakota
Play
Production Production
Calculated Metrics( EV/Category)
$/ Flowing
$/ Acre
Transaction Details: Subscribe to see
After tapping Petrie Partners to aid in finding a buyer, Abraxas Petroleum has reported that it has sold its non-op Bakken assets for $15.5 million (plus the assumption of an estimated $5.4 million in outstanding AFEs).
Asset Details: ~500 net acres (not a part of Abraxas' 3,500 net acre core position) ~350 BOEPD in net production (company noted that the asset sold represents 5% of Abraxas' current Bakken production) Looking for Other BuyersAbraxas is continuing discussions with parties interested in acquiring operated properties and with parties interested in acquiring a non-operated…
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