Location, location, location. It's a good time to have an interest in the Bakken and Three Forks.
A recent article by Bloomberg indicates Oasis Petroleum's recent Bakken acquisition makes the company even more attractive to buyers. Oasis acquired 161,000 acres through four separate transactions and now controls ~492,000 net acres prospective for Bakken drilling.
A few highlights from the article include:
- European companies like Statoil and Repsol might be interested in expanding their shale footprint in the U.S.
- Oasis offers "core acreage in very good areas."
- The company's large Bakken position signals a "commitment to be a pure-play", which is attractive to buyers
- Larger drilling inventory makes the company more attractive
- Oasis is trading ~70% cheaper than other U.S. explorers based on EBITDA multiples
Read more in the article published at bloomberg.com