EQUINOR is making an exit from the core Bakken shale play in the US after agreeing to sell its assets to Grayson Mill Energy in a deal worth $900 million. The sale to the EnCap Investments-backed company includes all of Norwegian state-controlled Equinor's operated and non-operated acreage totalling around 242,000 net acres - in the vast play in the states of North Dakota and Montana. The deal - which has an effective date of 1 January this year - also incorporates associated midstream assets in the Bakken. Equinor's entitlement production from these assets in the fourth quarter last year was 48,000 barrels of oil equivalent per day, net of royalty interests. Along with the asset sale, Equinor will also enter into a term purchase agreement for crude offtake from Grayson Mill. Equinor chief executive Anders Opedal said: "Equinor is optimising its oil and gas portfolio to strengthen profitability and make it more robust for the future.
展开▼
