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Northern Oil & Gas Bolts-On Property in Williston Basin

Announced Date
June 11,2020
Deal Value $
Net Acres
Location Count
Transaction Type
Not Disclosed
Price Per BOE $
Source Documents:
   Source Link
Williston Basin

United States

North Dakota


$Price/Net Acre

$Price/Adj. Net Acre

Transaction Details: 

Bakken Non-Op Northern Oil and Gas, Inc. has inked a deal to acquire core Williston Basin properties for $1.5 million in cash.

The seller was not disclosed, but the properties are operated by WPX Energy.

Deal Details:

  • Includes 320 acres (~9 gross drilling locations / 2.1 net)
  • Acreage expected to produce approximately 1,200 Boe per day in 2021, and wells are expected to be online in the first quarter of 2021
  • Northern has entered additional commodity hedging instruments at prices higher than the strip for 2021

Closing is expected on July 1, 2020.

Northern’s Chief Operating Officer, Adam Dirlam said: “We have consistently believed this environment would create opportunities for our shareholders in 2020 and beyond, and budgeted for opportunities like this. This acquisition, while modest in size, is located in the heart of the core with one of the top operators in the Williston Basin and highlights Northern’s competitive advantage as an actively managed non-operator. We expect this deal to be materially accretive to cash flow in 2021, yet represents no additional capital spending to our stated 2020 budget.”

Williston Basin Deal Activity In Last 12 Months

Other Williston Basin Region's Deals

Announced DateBuyerSellerDeal Value($mm)LocationCategory
Apr-08-2021 - - Click here North Dakota  E&P
Feb-10-2021 - - Click here North Dakota  E&P
Jan-25-2021 - - Click here North Dakota  E&P
Sep-28-2020 - - Click here New Mexico  E&P
Aug-03-2020 - - Click here North Dakota  E&P

Price History

Date Deal Headline Price$/acre
Apr-08-2021 Enerplus to Acquire Bakken Assets from Hess in $312MM Cash Deal - -
Feb-10-2021 Equinor Sells Bakken Assets to PE-Backed Firm for $900MM - -
Jan-25-2021 Enerplus Acquires Pure-Play Bakken E&P Bruin for $465MM - -