Oil wells in North Dakota
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,
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