One-Page Deal Sheet
Grayson Mill Adds More Bakken, Acquires Ovintiv's Assets For $825 Million
Grayson Mill Energy Ovintiv Inc
Announced Date
April 03,2023
Effective Date
January 01,2023
Close Date
June 12,2023
Transaction Type
Asset
Enterprise Value (EV)($MM)
825
Asset/Basin:
["Williston Basin"]
TargetZones:
["Bakken"]
Net Acres
% Oil:
Proved Reserves
Location
Calculated Metrics( EV/Category)
Region
Rockies
Country
United States
State
North Dakota
Play
Production & Reserves Production
Production Mix
Reserves
Calculated Metrics( EV/Category)
$/ Flowing
$/ Acre
Transaction Details: Require Private Equity Subscription
Grayson Mill Bakken, a Encap backed company is acquiring Ovintiv bakken assets for $825 million. The deal is part of a larger deal where Encap is acquiring three portfolio permian companies from Encap.
The assets approximately 46 thousand net acres as of December 31, 2022. Estimated first quarter Bakken production is expected to average approximately 37 MBOE/d (60% oil and condensate).
According to the Ovintiv 10k, reserse associated with the Williston asset “Sales of 100.8 MMBOE were primarily due to the divestiture of the Bakken.” That’s the best reserve figure attributable to the asset in…
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|---|---|---|---|---|---|
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| Mar-08-2022 |
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| Feb-09-2022 |
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