NRP - Sundance Reach $35.5 Million Bakken Deal

Natural Resource Partners (NRP) has agreed to acquire non-operated working interests in the Bakken from Sundance Energy for $35.5 million. 

“This is NRP’s second acquisition of producing, non-operated working interests in the Bakken/Three Forks play, which will grow and further diversify NRP’s revenue going forward.”

— Nick Carter, NRP's COO.

The deal includes 77 producing wells and associated acreage in Dunn, McKenzie, and Mountrail counties. All leases are held by production. NRP plans to participate in future development on the properties.

Read the full release at nrplp.com

Abraxas - Natural Resource Partners Bakken Deal Announced

Abraxas Petroleum Bakken Acreage Map

Abraxas Petroleum has signed an agreement to sell the majority of the company's non-operated Bakken acreage to Natural Resource Partners.

Natural Resource Partners is paying $35.3 million plus the assumption of well commitments that total $8.1 million related to 22 wells in which Abraxas has elected to participate.

The deal includes production of 502 boe/d. Abraxas will retain operated acreage in the Bakken.

Bob Watson, President and CEO of Abraxas commented, "This is obviously a transformational day for Abraxas as we significantly reduce our leverage while simultaneously shifting our focus to a core operated portfolio. Heading forward we will continue to rationalize our asset base to focus on our core operated properties primarily in the Bakken and Eagle Ford. Moreover, the removal of the non-operated Bakken assets from our portfolio will provide the company with a much more predictable production growth profile and CAPEX schedule.

Read the full press release at abraxaspetroleum.com