It’s been a nice ride up North for Texas-based Comstock and ConocoPhillips, but now it’s time to say so long to the Williston Basin. Reese Energy Consulting today is following the latest news from Comstock and Conoco, which have put their respective Bakken assets on the market. As more operators shed non-core assets amid higher oil prices, the environment is ripe for deal-making in the nation’s most prolific shale basins and we expect even more going forward this year. Comstock, which in 2019 acquired Covey Park for $2.2 billion and has since emerged as a dominant player in the Haynesville, looks to offload its N.D., properties valued at $200 million. They include a non-operated working interest in 436 wellbores and 427 wells that produced an average 6.4 MBPD in the first six months this year. Conoco, which in January acquired Concho Resources’ massive Permian assets for $13.3 billion, values its N.D., and Mont., positions also at $200 million. But this is a much larger package for the right buyer. The company operates 630,000 net acres and 840 wells in the Bakken producing an average 78 MBPD.
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