Equinor completes $900m sale of Bakken shale assets

London (Quantum Commodity Intelligence) – Norwegian energy major Equinor has completed the sale of its onshore US assets in the Bakken field to exploration and production company Grayson Mill Energy at a price of $900 million, the companies said Tuesday.

The deal was first announced in February and has now been fully concluded.

Entitlement production from the assets in the fourth quarter of last year was 48,000 barrels of oil equivalent per day.

Equinor has divested all its operated and non-operated acreage in the Bakken field in North Dakota and Montana along with the associated midstream assets, but will continue to operate the assets up to four months after the deal closing as part of a transition service agreement with Grayson Mill Energy.

The Norwegian company's marketing and trading arm will continue to take crude from the Bakken assets via a separate long-term purchase agreement.