Enerplus just closed the deal on their acquisition of an additional 46,500 net areas in Dunn and McKenzie counties in North Dakota. This new asset gives them a total of over 70,000 net acres in the Fort Berthold area and a total of over 210,000 net acres of undeveloped land with Bakken and Three Forks potential in the U.S. and Canada. The purchase price for the acquired land is $456 million and the deal is expected to close this month. The following is a map from an Enerplus presentation that outlines the Fort Berthold area.
Prior to the deal Enerplus estimated roughly 70 Bakken and Three Forks future drilling locations in the Berthold area. The Company has participated in drilling 9 horizontal wells in the area, of which 6 have been completed. They estimate approximately 5 to 6 MMbo of original oil in place of Bakken potential and expect to drill 2 wells per section. The acquisition also includes roughly 800 Bbls/d of light crude along with proved plus probable reserves of 10 MMBoe.
For more information visit the Bakken Acquisitions and Divestitures in the Unconventional Updates in DI’s DNA.