[Editor's note: A version of this story appears in the March 2021 issue of Oil and Gas Investor magazine.]

Soak up the A&D love, Bakken Shale. The reports are true. As of early February, two sellers and two buyers did what comes naturally: transact.

One deal could perhaps be read as a misfire—a confused visitor arriving at the wrong address. But two? In the Bakken, that’s a trend.

On Feb. 10, Equinor ASA (née Statoil) agreed to part with the entirety of its Bakken position for about $900 million—a stunning sum considering the $9.2 billion in onshore shale and other assets Equinor has already written off. Prior to that, Enerplus Corp. agreed on Jan. 25 to acquire Bruin E&P Partners LLC for $465 million cash in a deal it described as “highly complementary” to its existing acreage.

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