One-Page Deal Sheet
QEP Energy acquires 85% Interest in Bakken and Three Forks Assets
QEP Resources, Inc. Black Hills Corporation
Announced Date
August 28,2012
Effective Date
July 01,2012
Close Date
September 28,2012
Transaction Type
Property
Enterprise Value (EV)($MM)
243
Location
Calculated Metrics( EV/Category)
Region
Williston Basin
Country
United States
State
North Dakota
Play
Calculated Metrics( EV/Category)
$/ Acre
Transaction Details: Subscribe to see
QEP Energy Company, a wholly-owned subsidiary of QEP Resources, Inc., completed the acquisition of 85% interest in Bakken and Three Forks shale assets in the Williston Basin, North Dakota, the US, from Black Hills Exploration & Production, Inc., a subsidiary of Black Hills Corp., for a cash consideration of $243m, subject to customary post-closing adjustments. The transaction has an effective date of July 1, 2012.
The assets comprise of 73 gross wells and 28,000 net lease acres. The assets have total proved reserves of 2.2 million barrels of oil and 3.4 bcf of natural gas and produce…
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