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Title : QEP Exits The Williston Basin; Becomes Pure-Play Permian Producer -- November 7, 2018
link : QEP Exits The Williston Basin; Becomes Pure-Play Permian Producer -- November 7, 2018

QEP Exits The Williston Basin; Becomes Pure-Play Permian Producer -- November 7, 2018

Maybe the mineral owners should have voted to let QEP unitize the Helis Grail. But we will never know, will we.

A reader alerted me to this. Thank you very, very much.

QEP exits the Bakken. The story is everywhere. One link here. Data points:

• Vantage Energy buys
• • Vantage Energy: a new publicly traded company
  • Denver-based Vantage Energy
  • will focus on the Williston Basin, "including" the Bakken 
• meanwhile, QEP will become much more of a pure-play exploration and production firm focused almost exclusively on the Permian
• $1.7 billion
• acreage not mentioned in this article
• from "Bakken operators", last entry:
• • about 120,000 acres in the Bakken
  • $1.7 billion / 120,000 = $15,000 / acre (rounded)

From that post:

• March, 2018: will exit the Bakken and Uinta; looks like it becomes a pure Permian play
• 8 rigs; operational update, June 3, 2013;
• QEP Midstream Partners, IPO filing, May, 2013; Uinta, Bakken
• August 23, 2012: acquires 27,600 net acres from Helis, LLC, and Black Hills Corporation in deal worth $1.3 billion;  if accurate, then about 117,600 net acres in the Bakken;
• 4Q11 (Filloon): 90,000 net acres: most of it inside the reservation
• Three rigs; will add a fourth in 2012 (1Q12 report)
• 4Q11: 5,019 boepd 
• 4Q11 (Filloon): Most interesting: its proposed 10-well pad; first test of 5 MB and 5 TF from one pad
• Still natural gas heavy

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