One-Page Deal Sheet
Sundance Profits from Bakken Acreage Sale
QEP Resources, Inc. Sundance Energy Inc
Announced Date
August 24,2012
Close Date
August 24,2012
Transaction Type
Property
Enterprise Value (EV)($MM)
172
Asset/Basin:
{"Williston Basin"}
TargetZones:
{"Bakken Shale"}
Net Acres
Proved Reserves
Location
Calculated Metrics( EV/Category)
Region
Williston Basin
Country
United States
State
North Dakota
Play
Production & Reserves Reserves
Calculated Metrics( EV/Category)
$/ Acre
Transaction Details: Subscribe to see
Sundance Energy Australia has sold its interest in the South Antelope oil field in the Williston Basin, North Dakota, which produces from the Bakken Shale, for US$172.4 million.
This represents a profit of US$150 million and gives the company a return of three times its total investment, or an internal rate of return of about 75% over the roughly five year life of the project.
The sale of the company’s 3900 net acres was carried out as part of the sale process undertaken by operator Helis Oil & Gas and is amongst the highest value transactions for Bakken Shale assets.
Buyer QEP Resources paid…
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