Silver Hill Energy Partners acquires Bakken midstream infrastructure assets from Liberty Resources II
(UI) – Silver Hill Energy Partners, LP has signed definitive agreements with Liberty Resources II, LLC to acquire Liberty’s interests in oil and gas properties, rights and related assets in North Dakota and 100% of Liberty Midstream Solutions, LLC, a midstream oil and gas company with gas gathering, gas processing and produced water logistics assets in North Dakota. The acquisition is expected to close March 14, 2024.
Acquisition highlights include:
- Integrated midstream system with approximately 33 miles of gas gathering lines, 22 miles of water gathering lines, a 30 MMcf/d gas processing plant, five saltwater disposal wells with roughly 60,000 bbl/d of disposal capacity, 99,000 dedicated acres and ample expansion capacity
- December net production of approximately 13,000 boe/d (76% oil, 86% liquids)
- PDP reserves of approximately 16 million boe
- One rig currently running in Mountrail County with 12 additional wells expected to be completed during Q1 2024
- 84,000 net acres in the Williston Basin Bakken and Three Forks play in Mountrail, Burke, Williams and Divide Counties, North Dakota (approximately 80% held by production)
- Over 300 gross operated drilling locations
“After years of considering various opportunities for entry points into the Bakken, we are thrilled to be acquiring what we believe is an ideal initial upstream and midstream development platform for us in the play,” said Silver Hill Founder and CEO Kyle D. Miller. “Liberty’s assets represent not only an attractive operating footprint with immediate scale and runway but also a uniquely situated natural gas and water infrastructure system that provides a meaningful uplift to our drilling economics. We have enjoyed working with the Liberty team throughout this transaction and are excited to harness our teams’ combined knowledge and experience as we continue developing and growing this new Bakken position as well as our sizable existing Haynesville business.”
Related News
From Archive
- Tunnel boring machine ‘Clack-A-Mole’ nears one-third completion in Oregon outfall project
- Lynchburg, Va., breaks ground on largest-ever Blackwater CSO tunnel project
- Texas A&M weighs underground transit plan with Elon Musk's Boring Co. to reduce campus traffic
- Wyo-Ben’s Max Gel, Max Bore HDD system boost drilling efficiency, performance
- Federal court halts permits for 32-mile Tennessee gas pipeline project
- Wisconsin proposes new PFAS drinking water standards to align with federal rules
- Elgin, Ill., joins EPA drinking water initiative to accelerate lead pipe replacement
- Dog River pipeline replacement in Oregon improves water supply with new HDPE pipe
- Leaking wastewater systems named top source of San Diego River contamination, study finds
- New Portable Welding System From Miller
Comments