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In August 2012, QEP Resources Inc. (QEP) agreed

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Timothy Smith   Sunday, 12/02/12 12:16:55 AM
Re: None
Post # of 389 
In August 2012, QEP Resources Inc. (QEP) agreed with multiple sellers, including Black Hills Corp (BKH), Sundance Energy (SDCJF.PK) and Unit Corp. (UNT), to acquire significant crude oil development properties in the Williston Basin.

The acquisition will increase QEP's net acreage in the Williston Basin to approximately 118,000 acres. The properties are located in Williams and McKenzie counties of North Dakota, approximately 12 miles west of QEP's existing core acreage in the Williston Basin.

The assets have aggregate current net production about 10,500 barrels of oil equivalent per day with aggregate net proved and probable reserves of approximately 125 million barrels of oil equivalent.

QEP paid approximately $1.38 billion (implies $25,000/net acre when adjusted for the 10.5 Mboe/d of production). This price per acre may set the bar significantly higher for other Bakken stocks that currently trade at approximately $10,000 per acre adjusted for production.

OTCBB / Pink Sheet Oil & Gas Stocks

Don't believe anything I say. Do your own DD. Insert huge disclaimer here ____________.
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