Nov. 07–Major Permian Basin operator QEP Resources said Wednesday it sold its Williston Basin acreage in North Dakota and Montana to a new publicly traded company called Vantage Energy.
Denver-based Vantage is a publicly traded blank check firm that will now become an oil and gas operating company focused on the Williston, including the Bakken shale.
On the other hand, QEP will become much more of a pure-play exploration and production firm focused almost exclusively on West Texas’ booming Permian.
“This transaction marks an important milestone in simplifying our asset portfolio as we continue on our path to becoming a Permian pure-play operator,” said QEP Chief Executive Chuck Stanley.
(c)2018 the Houston Chronicle
Visit the Houston Chronicle at www.chron.com
Distributed by Tribune Content Agency, LLC.