Whiting Petroleum exits the Rockies
Operator sees greater prospects in the Bakken as it shuffles its portfolio
US independent Whiting Petroleum will offload its entire asset base in the DJ basin for $187mn, including its associated midstream holdings, as it refocuses its portfolio on core Bakken production. Consolidation in the Rockies saw a big upswing in Q2, with big name players extending their influence, and M&A appetite shows no sign of fading. The operator will divest to an unnamed private entity c.67,278 net acres in Weld County, Colorado, with daily production of roughly 7,100bl/d oe. Whiting has been trying to offload DJ acreage since 2017 and has carried out little development since. The transaction is expected to close in Q3. “With the recent improvement in the price strip,
Also in this section
2 May 2024
Faster-than-expected economic growth fails to mask macro imbalances and shifting structural oil product trends
1 May 2024
Energean CEO Mathios Rigas looks to results of critical Anchois appraisal well
30 April 2024
While its regional neighbours reap the rewards of oil and gas success, Iraq’s hydrocarbons sector is lagging behind
29 April 2024
Although recent, firmer gas prices have blunted some price-sensitive demand, the overall growth outlook remains robust