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Equinor completes sale of Bakken assets

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Oilfield Technology,


Equinor has completed the sale of its operated and non-operated acreage in the Bakken field in the US states of North Dakota and Montana to Grayson Mill Energy, first announced in February 2021, along with associated midstream assets for a total consideration of around US$900 million.

Equinor will continue to operate the assets up to four months after closing as part of a transition service agreement with Grayson Mill Energy. Nearly all field staff and many of those in the support teams working on the Bakken assets will transfer to Grayson Mill Energy upon the conclusion of their transition duties within Equinor.

Equinor Marketing and Trading will purchase crude offtake from the Bakken assets through a separate long-term purchase agreement with Grayson Mill Energy.


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Read the article online at: https://www.oilfieldtechnology.com/drilling-and-production/27042021/equinor-completes-sale-of-bakken-assets/

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This article has been tagged under the following:

Upstream news Bakken news US upstream news Oil & gas news