One-Page Deal Sheet
Baytex Ditches the Bakken/Three Forks; Sells Assets to SM
SM Energy Company Baytex Energy Corp.
Announced Date
July 30,2014
Effective Date
July 01,2014
Close Date
September 24,2014
Transaction Type
Property
Enterprise Value (EV)($MM)
331
Asset/Basin:
{"Williston Basin"}
TargetZones:
{Bakken,"Three Forks
Net Acres
Proved Reserves
Location
Calculated Metrics( EV/Category)
Region
Williston Basin
Country
United States
State
North Dakota
Play
Production & Reserves Production
Reserves
Calculated Metrics( EV/Category)
$/ Flowing
$/ Acre
Transaction Details: Subscribe to see
Closing Announcement - September 25, 2014
Baytex Energy Corp. has reported the completion of the previously announced disposition of its North Dakota assets to SM Energy Company, effective July 1, 2014, for gross proceeds of approximately $357 million (US$330.5 million). After tax net proceeds from the sale, estimated at $275 million, will be applied against outstanding indebtedness.
Production from the Assets averaged approximately 3,200 boe/d in the second quarter of 2014. As of December 31, 2013, the Assets were estimated to have proved plus probable reserves of 53.5 million boe (81% oil…
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