Guide online Free signup Advertise my Company
Magazine
Free subscription magazine
Last edition
May-June 2026
Magazine May-June 2026
All magazines
Bharat Vasandani Madhavan N. & Hari... Urvish Dave

Market & Company Research Store > Details

Year: 2012

Contents: 11 pages

Country: United States

Sector: Exploration and Production (Energy)
QEP Energy to Acquire Crude Oil Development Properties in the Williston Basin of North Dakota for $1.38 Billion: QEP Resources’ Move to Increase Oil and Liquid Rich Assets in its Portfolio to Generate Higher Yields - Deal Analysis from GlobalData

Summary

QEP Energy Company (QEP Energy), a wholly owned subsidiary of QEP Resources Inc. (QEP Resources) has agreed to acquire crude oil development properties in the Williston Basin of North Dakota, from Unit Petroleum Company (Unit Petroleum), a wholly owned subsidiary of Unit Corporation; Black Hills Exploration & Production Inc (Black Hills), Sundance Energy Australia Limited (Sundance), Helis Oil & Gas Company L.L.C (Helis) and Energy Australia Limited (Energy Australia) for a purchase consideration of approximately $1.38 billion in cash, subject to customary pre-closing and post-closing adjustments. The transaction will have an effective date of July 1, 2012.
QEP Energy intends to fund the acquisition cost through its revolving credit facility and cash on hand. The North Dakota oil properties are located in the Williams and McKenzie counties, as well as the Bakken shale play and Three Forks shale play, which are both about 12 miles west of QEP’s core acreage in the Williston Basin.

Tudor, Pickering, Holt & Co., LLC is acting as financial advisor for Unit Petroleum, Black Hills Exploration, Sundance Energy, Helis Oil & Gas and other private sellers, while Vinson & Elkins L.L.P. is acting as legal advisor to QEP Energy in the transaction and Hogan Lovells is acting as legal advisor to Sundance Energy.

Scope

- Rationale behind QEP Resources acquiring acreages in North Dakota
- Rationale behind Vendor companies divesting stake in the Bakken shale play and Three Forks shale play
- Geography Covered- US (North Dakota)

Reasons to buy

- Develop a sound understanding of QEP Resources' acquisition plan
- To know the reasons behind vendor companies divesting their stake in favor of QEP Resources and reasons behind companies investing in the Bakken shale play
- To understand the scope of developing liquid rich assets in Bakken shale play and Three Forks shale play in North Dakota
Access Report
 
 
Next events
All events
 
 
Last interviews
All interviews
 
Follow us