Whiting Petroleum has announced its intention to sell its Bakken midstream assets to a subsidiary of Tesoro Logistics.
The $375 million deal includes Whiting's 50% stake in the Robinson Lake natural gas–processing plant along with the associated natural gas–gathering system located in Mountrail County, North Dakota.
2016 third quarter capex for Whiting was $85 million was under budget and relatively flat with the second quarter. Other quarterly highlights include:
- Production totaled 11.0 million barrels of oil equivalent (MMBOE), an average of 119,890 barrels of oil equivalent per day (BOE/d)
- Production was 85% crude oil/natural gas liquids (NGLs)
- Lowered lease operating expenses averaged $7.98 per BOE