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This docFinder Alert highlights M&A activity in the Bakken and identifies select Bakken-focused public companies below. Above are presentations from two Bakken deals announced in recent weeks - Denbury sold its Bakken position for $2.0 billion to ExxonMobil and QEP Resources paid $1.4 billion for a largely contiguous Tier 1 position from a consortium of companies including Unit Corp., Helis Oil & Gas, Black Hills E&P and Sundance Energy . Back in December, PLS issued another docFinder Alert (Vol.1 #13) -- The Bakken :A super play keeps getting bigger.
Given the size of the play and the capital requirements to go to full scale development, the Bakken clearly is on the radar of the majors and NOC's. We would not be surprised to see new major oil companies enter the play through an acquisition. We also expect additional acquisitions by large players already in the play. Outside of ExxonMobil, large companies that have already bought their way into the Bakken include Statoil, Occidental and Hess.
With that as backdrop, shown below are four of the larger, well-regarded and publicly-traded Bakken focused companies -- Whiting, Continental Resources, Kodiak and Oasis Petroleum -- which may well be attractive acquisition candidates. This is not intended to be an exhaustive list.
You can use PLS' proprietary databases -- docFinder and M&A database -- to quickly perform additional Bakken research including valuation benchmarks, play economics, infrastructure build-out, competitive positions, individual corporate strategies, growth rates and more. These databases will save you countless hours and get to the facts.
For reference, this table (from PLS's M&A database) presents the >$1 billion Bakken transactions that have occured to date:
| Date |
Buyer |
Seller |
Deal Value ($MM) |
| September 2012 |
ExxonMobil |
Denbury |
$2,000 |
| August 2012 |
QEP |
Helis, Unit et al |
$1,380 |
| October 2011 |
Statoil |
Brigham |
$4,700 |
| December 2010 |
Occidental |
Anschutz |
$1,400 |
| November 2010 |
Hess |
Tracker |
$1,050 |
| May 2008 |
XTO |
Headington |
$1,850 |
More HOT slides and data below.
The markets are swirling with rumors of who will be buying and who may be takeover targets in the Bakken. Shown below are recent presentations from four Bakken-focused companies:Whiting Petroleum, Continental Resources, Kodiak Oil & Gas and Oasis Petroleum.
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