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Halcon Sells Bakken Asset; Open to Outright Sale of the Company

Announced Date
July 11,2017
Deal Value $
Net Acres
Transaction Type
Price Per BOE $
Source Documents:
   Source Link
   Source Link
Williston Basin

United States

North Dakota


29,000 Boe/d

Production ($/boe/d)

$Price/Net Acre

$Price/Adj. Net Acre

Adj. $/acre is based on production @40,000 Boe/d

Transaction Details: 

Halcon is selling its operated Williston Basin assets to an affiliate of Bruin E&P Partners, a portfolio company of Arclight Capital Partners, for $1.4 billion in cash. In this sale, Halcon is selling off 76% of its total production.

In a call with analysts, Halcon's CEO Floyd Wilson indicated it was open to an outright sale of the company. Halcon seems to be following a trajectory similar to Clayton Williams, who was acquired by Noble Energy. In the short term, however, Halcon plans to add another rig in its Permian assets by year-end.

Current production associated with the assets being sold is approximately 29,000 boe/d, net. According to Halcon's most recent presentation, the company holds ~103,700 net operated acres in the Williston. The asset is 100% HBP.

While Halcon has successfully found a buyer for these assets, SM Energy attempted to sell its Bakken position earlier this year, but pulled the listing after not finding a buyer.

It is important to note that the sale is contingent upon the approval of at least 50% of Halcon's senior note holders (6.75% unsecured notes due 2025).

Williston Basin Deal Activity In Last 12 Months

Other Williston Basin Region's Deals

Announced DateBuyerSellerDeal Value($mm)LocationCategory
Jan-31-2024 - - Click here North Dakota  E&P
Aug-24-2023 - - Click here North Dakota  E&P
Sep-06-2022 - - Click here   E&P
Jul-11-2022 - - Click here Texas  E&P
Jul-06-2022 - - Click here Montana  E&P

Price History

Date Deal Headline Price$/acre
Apr-03-2023 Grayson Mill Adds More Bakken, Acquires Ovintiv's Assets For $825 Million - -
Sep-06-2022 Sitio Royalties, Brigham to Merge in All-Stock Deal Worth $4.8 Billion - -
Jun-08-2022 Devon Acquires Williston Assets from PE-Backed E&P in $865 Million Cash Deal - -

Other Battalion Oil Corp. Deals

Announced DateBuyerSellerDeal Value($mm)LocationCategory
Dec-15-2023 - - Click here Texas  E&P
Nov-30-2020 - - Click here Texas  E&P
Feb-06-2018 - - Click here Texas  E&P
Feb-06-2018 - - Click here Texas  E&P
Sep-20-2017 - - Click here North Dakota  E&P

Other Bruin E&P Partners Deals

Announced DateBuyerSellerDeal Value($mm)LocationCategory
Jan-25-2021 - - Click here North Dakota  E&P
Dec-12-2016 - - Click here North Dakota  E&P