BOKF Petro Holdings II LLC is offering for sale certain nonoperated working interest properties in Montana and North Dakota.
Shares of North Dakota oil producers Oasis Petroleum, Continental Resources and Enerplus were trading higher after the U.S. Army Corps of Engineers said it would allow the Dakota Access pipeline to run.
The recently announced agreement by Pioneer Natural Resources to acquire DoublePoint Energy, with multiple private equity sponsors, also adds further indications of a shift toward private upstream activity, analyst says.
The move leaves the decision on shutting down the pipeline with the U.S. District Court of the District of Columbia.
The combined oil and gas rig count rose two to 432 in the week to April 9, its highest since April 2020, Baker Hughes said in its weekly report.
The market has been increasingly worried about a possible shutdown of the Dakota Access pipeline, which ships up to 570,000 barrels of North Dakota's crude oil production to the U.S. Midwest and Gulf Coast.
The sale to Enerplus consists of non-strategic interests in Bakken acreage in North Dakota that CEO John Hess said the company wasn’t planning on drilling before 2026.
The roughly $1.6 billion project, which was proposed to support oil production growth in the Rockies and the Bakken shale regions, had been put on hold more than a year ago.
Here’s a quicklist of oil and gas assets on the market including Starboard, Max Permian Northern Delaware Basin leasehold plus an Antrim Shale ORRI well package and a state lease sale in New Mexico’s Lea County.
Here’s a snapshot of recent energy deals including Ovintiv’s Eagle Ford Shale exit through the $880 million sale of its South Texas assets to Validus Energy plus the all-stock merger of Noble Corp. with Houston-based Pacific Drilling.