Full Speed Ahead in the Bakken

Full Speed Ahead in the Bakken

Denver-based Whiting Petroleum last April earned the dubious distinction as the first major U.S. oil producer to file for bankruptcy after crude prices fell into an abyss. But with new leadership at the wheel, Whiting has re-emerged, crafting strategic moves to reclaim its place as N.D.’s biggest producer. Reese Energy Consulting today is following the latest news from Whiting, which is waving goodbye to its sizeable assets in Colo.’s DJ Basin and going full throttle in the Bakken. The E&P has just announced duo deals totaling $458 million, putting the Rocky Mountains in the rearview and revving up in the Williston Basin. Whiting has sold its entire position in the DJ for $187 million to an undisclosed buyer with assets that include 67,278 net acres and 7,100 BOEPD in production. In a second transaction, the company has acquired 8,752 net acres in the Williston with production of 4,200 BOEPD for $271 million, this also from an undisclosed buyer. The acquisition adds to Whiting’s current portfolio of 478,000 net acres in the Bakken and Three Forks shale plays, making it the third-largest producer.

What do you think? Learn more about REC and our range of oil and natural gas marketing expertise at www.ReeseEnergyConsulting.com.

Whiting Petroleum

Whiting Petroleum Corporation is an independent exploration and production company with an oil focused asset base. We are a top crude oil producer in North Dakota and operate substantial assets in northern Colorado. Headquartered in Denver, Colorado, we lead the industry with our competitive assets, commitment to safety, dedication to technology and record-setting results. Whiting is a competitive company, with a strong, responsible plan to create long-term value.

whiting.com

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Landing the Eagle

Landing the Eagle

After securing more than $1 billion in financing two years ago to acquire and exploit underdeveloped oil and gas assets, Houston-based newcomer Wildfire Energy has landed its first smokin’ hot deal—this one in the Eagle Ford. Reese Energy Consulting today is following the latest news from Wildfire which will purchase Denver-based Hawkwood Energy in agreements valued at $650 million. Hawkwood shareholders will retain a 50% equity interest in Wildfire with the other 50% held by Wildfire’s management team and capital backer Kayne Anderson. Hawkwood operates 170,000 contiguous net acres in the Eagle Ford, including more than 375 wells, 19 MBOED in production, and 750+ future net locations. Founded in 2012, the company shifted focus two years later to East Texas, accumulating Eagle Ford assets in 30 transactions that also included the 2017 acquisition of Halćon Resources’ EF subsidiaries. That deal gifted Hardwood 81,000 net acres, 170 wells, and 9+ MBOED.

What do you think? Learn more about Reese Energy Consulting and our energy services at www.ReeseEnergyConsulting.com.​

Wildfire Energy

WildFire Energy is an independent energy company focused on the acquisition, exploitation, and production of oil and natural gas properties in the United States through the application of modern technology and production optimization. The company is led by Chief Executive Officer Anthony Bahr, the former President of WildHorse Resource Development, and President & Chief Operating Officer, Steve Habachy, former Chief Operating Officer of WildHorse Resource Development. WildFire Energy is funded by management, Warburg Pincus, and the Kayne Private Energy Income Funds platform.

www.wildfire-energy.com

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What’s the Big Deal for Energy Transfer?

What’s the Big Deal for Energy Transfer?

Despite the havoc wreaked by the pandemic in 2020, The U.S. exported 3.2 MMBPD of crude oil to nearly 80 countries. Among them, Central America’s Republic of Panama—one of the top four destinations for U.S. exports of distillate fuel, most often consumed as diesel. Panama produces no oil, gas, or coal. Electricity for the 4+ million population is generated exclusively by hydropower. The country also controls one of the world’s busiest shipping canals that connects the Atlantic Ocean to the Pacific Ocean. Reese Energy Consulting today is following the latest news from Dallas-based Energy Transfer, which has just signed a Memorandum of Understanding with Panama to study the feasibility of the proposed Trans-Panama Gateway Pipeline. The project would include construction of two terminals—one on the country’s Atlantic side and one on the Pacific side—connected by a new pipeline to receive, transport, and export LPG to global markets. Following ET’s acquisition in February of Okla. City-based Enable, CEO Kelcy Warren hinted he was looking for the next, even bigger opportunity. Looks like he’s found one.

What do you think?  Learn more about REC and our energy services at www.ReeseEnergyConsulting.com.

Energy Transfer

Energy Transfer is a Texas based company that began in 1995 as a small intrastate natural gas pipeline operator and is now one of the largest and most diversified investment grade master limited partnerships in the United States. Growing from roughly 200 miles of natural gas pipelines in 2002 to more than 86,000 miles of natural gas, natural gas liquids (NGLs), refined products, and crude oil pipelines.

energytransfer.com

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