In news coming out of the US, there are reports that Comstock Resources (CRK.N) oil company is offering to sell properties in North Dakota’s Bakken oilfield.
This is according to sources seen by Reuters and comes as rising energy prices lift buying and selling in the sector.
Crude oil prices are up about 38 percent year-to-date as economies bounce back and fuel demand recovers from travel restrictions to curb the pandemic. US shale oil companies also are seeking a larger scale to drive returns and operational efficiency.
The properties on offer include a non-operated working interest in 436 wellbores. The holdings are valued at about $200 million based on futures pricing, according to the document.
Comstock
Comstock Resources is owned by Dallas Cowboys owner and billionaire Jerry Jones, who recently made sports headlines for saying his National Football League team was “in the pipeline” to be a league leader in Covid vaccination rates.
According to its website, it is a growing independent energy company engaged in the acquisition, development, production and exploration of oil and natural gas with operations focused on the development of the Haynesville Shale in North Louisiana and East Texas.
At the time of writing, Comstock had not issued a comment on the matter.
