Hess Sells Bakken Interests to Calgary-Based Enerplus

Williston, ND (KEYZ) A major player in the Bakken has sold-off assets to a foreign energy company for hundreds of millions of dollars.

Canadian Enerplus Corporation made the announcement that they are buying $312 million dollars of Hess Corporation assets in North Dakota. Enerplus will now see their land holdings balloon to 294 thousand acres in North Dakota with the addition of the 79 thousand from Hess.

The move bolsters Hess' liquidity position, as it had no plans to drill on the soon-to-be-sold land until at least 2026. Enerplus will allocate capital on the new land immediately and will now be in a position to double their production in the Bakken.