QEP Resources (QEP) made an aggressive acquisition from multiple sellers in the Bakken offering $1.38 billion for 27,600 net acres and current production of 10,500 Boepd.
The acreage is located primarily in Eastern McKenzie County in a fairly contiguous block. QEP claims this is one of the better sweet spots in the Bakken with EURs well above the Williston Basin average. Helis Oil & Gas LLC was the operator of over 90% of the acreage and the primary seller.
However, the non-operators were allowed to combine with Helis on the sale and receive the operator premium per acre for all of their acreage. This model of getting non-operators to combine with operators on sales will continue as big acquirers want to get the biggest economy of scale possible.
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