Encore to buy Anadarko's Williston basin interests

By OGJ editors
HOUSTON, Jan. 29 -- Encore Acquisition Co. agreed to buy Anadarko Petroleum Corp.'s interests in the Williston basin in Montana and North Dakota for $410 million.

Encore estimates the properties have total proved reserves of 21 million boe, which are 90% oil and 81% proved developed producing. The properties currently produce 5,000 net boe/d. Encore will operate 85% of the acquired properties.

The Williston basin properties produce from more than 50 different fields across eastern Montana and western North Dakota. The 70,000 net acres involves primarily waterfloods and producing properties in the Bakken play.

Encore plans to enhance production from the acquisition through drilling, redevelopment, stimulation, and waterflood optimization.

Anadarko operates 93% of the properties, and oil accounted for 90% of the 2006 production. The agreement is expected to close by the end of the first quarter.

Related Articles

Anadarko settles legacy claims against Kerr-McGee for $5.15 billion

04/07/2014 Anadarko Petroleum Corp. and subsidiaries it acquired when it bought Kerr-McGee Corp. in 2006 agreed to pay $5.15 billion to settle fraudulent conv...

Brightoil Petroleum to buy Anadarko’s China subsidiary for $1.075 billion

02/18/2014

Brightoil Petroleum Holdings Ltd. of China plans to buy Anadarko Petroleum Corp.'s subsidiary in China for $1.075 billion.

Anadarko reports fourth-quarter loss, record yearend sales volumes

02/04/2014

Anadarko Petroleum Corp. reported a fourth-quarter net loss of $770 million, decreasing net income by $1.145 billion.

BLM Rock Springs office issues Monell-Arch field decision

01/06/2014 The US Bureau of Land Management found no significant potential impact from Anadarko Petroleum Corp.'s proposed development of the Monell and Arch ...

Careers at TOTAL

Careers at TOTAL - Videos

More than 600 job openings are now online, watch videos and learn more!

 

Click Here to Watch

Other Oil & Gas Industry Jobs

Search More Job Listings >>
Stay Connected