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
- Authorities investigating trench collapse that killed worker in Ashburn, Va.
- NTSB publishes preliminary report on fatal gas pipeline explosion in Lexington, Mo.
- Mass. governor slams Trump for ‘dangerous delay’ of $50 million in lead pipe replacement funds
- Ditch Witch West sells first Bulldog trencher to speed up undergrounding work along West Coast
- Centuri awarded nearly $400 million for U.S. gas infrastructure work
- Maryland lawmakers push to curb BGE pipeline spending, citing safety and cost concerns
- Charlottesville, Va., to begin work on 24-inch water line for Rivanna River crossing
- Mass. governor slams Trump for ‘dangerous delay’ of $50 million in lead pipe replacement funds
- City of Albuquerque halts fiber optic construction in response to damage, complaints
- Pasadena, Calif., undergrounding project could take 500 years to finish
Comments