One-Page Deal Sheet
Earthstone Exits Bakken; Unloads Non-Op Property for $27mm
Not Disclosed Not Disclosed
Announced Date
November 20,2017
Effective Date
December 01,2017
Close Date
December 20,2017
Transaction Type
Property
Enterprise Value (EV)($MM)
27
Asset/Basin:
{"Williston Basin"}
TargetZones:
{Bakken,"Three Forks
Net Acres
5,900
% Oil:
63 % oil
Proved Reserves
3.6 MMboe
Location
Calculated Metrics( EV/Category)
Region
Williston Basin
Country
United States
State
North Dakota
County
McKenzie ,Dunn ,Williams ,Billings
Play
Production & Reserves Production
1,021 Boe/d
Production Mix
63 % Oil
Reserves
3.6 MMboe (1P)
Calculated Metrics( EV/Category)
$/ Flowing
26,445
$/ Acre
4,576
$/Location
174,194
Transaction Details:
Earthstone announced that it entered into a deal to sell its mostly non-operated Bakken assets to an undisclosed party for $27 million. The deal closed on December 21, 2017.
Transaction Summary/Details
- Leasehold / Land : 5,900 Net Acres
- Producing Wells : 299 (Gross)
- Drilling Locations : 155
- Production (Q3-17) : 1021 (63% Oil)
- Reserves : 1P 3.6 MMBOE
With this sale, the company is exiting the Bakken and shifting its capital and human focus to its 27,000 acres in the Midland Basin.
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