One-Page Deal Sheet
Whiting Sheds Non-Core Properties in the Niobrara, Bakken
Not Disclosed Whiting Petroleum Corp.
Announced Date
June 30,2015
Effective Date
June 01,2015
Close Date
June 30,2015
Transaction Type
Property
Enterprise Value (EV)($MM)
185
Asset/Basin:
{"Williston Basin","DJ Basin"}
TargetZones:
{Bakken,"Three Forks
% Oil:
Proved Reserves
Location
Calculated Metrics( EV/Category)
Region
Williston Basin
Country
United States
State
North Dakota
Play
Production & Reserves Production
Reserves
Calculated Metrics( EV/Category)
$/ Flowing
Transaction Details: Subscribe to see
During the second quarter 2015, Whiting Petroleum announced that it sold two packages of older, conventional, operated and non-operated properties to private buyers for a total of $185 million. The effective date for both sales is June 1, 2015 and both sales closed in June 2015.
Reserves totaled an estimated 18.0 MMBOE (59% oil) with estimated remaining 2015 production of 6,100 BOE/d. The sales were consistent with Whiting’s continuing 2015 plans to sell mature properties with higher LOE per BOE than its core Bakken and Niobrara assets. LOE for the properties averaged approximately $18.00 per…
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