Hess Corp. is selling a chunk of its prized Bakken portfolio, bringing value forward on acreage it wasn’t planning on drilling for another five years.

The U.S. independent E&P company said in a release on April 8 it had entered an agreement to sell non-strategic interests in the Bakken in North Dakota to Enerplus Corp. for $312 million in cash. The transaction is Calgary, Albert-based Enerplus second multimillion-dollar cash acquisition in the Bakken so far this year.

“The Bakken is a core asset in our company’s portfolio,” CEO John Hess reaffirmed in a statement on April 8.

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