Orrick advised Equinor on an agreement to divest its interests in the Bakken field in North Dakota and Montana to Grayson Mill Energy, which is backed by EnCap Investments L.P., for a total consideration of $900 million. The transaction covers all of Equinor’s operated and non-operated acreage in the Bakken field—totaling 242,000 net acres—and associated midstream assets. Closing of the transaction is subject to the satisfaction of customary conditions, including receipt of regulatory approvals.
Additional information is available in Equinor’s announcement.
The Orrick team advising Equinor included Joe Roger, Adam Kowis, Savannah Raymond, Jason Flaherty, John Narducci, Jamie Larkin, Bob Lawrence, John Donaleski, Lisa Tonery, Nik Mathews and Richard Vernon Smith.