WBI Energy Midstream, an indirect subsidiary of MDU Resources Group Inc. (NYSE: MDU), said Nov. 21 that it entered a purchase and sale agreement to sell its 50% nonoperating ownership interest in the Pronghorn natural gas processing plant near Belfield, N.D.
WBI Energy Midstream co-owns the plant and 137 miles of natural gas-gathering pipeline and 143 miles of oil-gathering pipeline with Whiting Oil and Gas Corp.
Tesoro Logistics Rockies LLC will purchase the plant and associated gathering lines for $200 million.
The transaction is expected to close in the first quarter of 2017, pending Federal Trade Commission approval and satisfaction or waiver of customary closing conditions.
WBI Energy Midstream acquired its interest in the Pronghorn facilities in May 2012 for $66 million. The company’s share of the sale price would be about $100 million.
Recommended Reading
Expand’s Dell'Osso: E&Ps Show ‘Unusual’ Discipline with $4 NatGas Strip
2025-04-25 - Haynesville Shale’s largest gas producers are displaying restraint with a $4/Mcf forward curve. “That’s really unusual,” said Expand Energy CEO Nick Dell’Osso.
US Drillers Add Oil, Gas Rigs for Second Week in a Row
2025-04-25 - The oil and gas rig count rose by two to 587 in the week to April 25. Despite this week's rig increase, Baker Hughes said the total count was still down 26, or 4% below this time last year.
APA Reveals 2,700 bbl/d Test Results from Sockeye-2 in Alaska
2025-04-24 - APA Corp. said Sockeye-2, located in Alaska’s eastern North Slope, was drilled to a depth of approximately 10,500 ft and averaged 2,700 bbl/d during the final flow period.
Patterson-UTI Sees Uptick in Gas Activity, Oil Uncertainty
2025-04-24 - Natural gas activity picked up more than expected in the first quarter, with the Haynesville Shale leading the way, Patterson-UTI executives said.
Rhino Resources Makes Oil Discovery in Namibia’s Orange Basin
2025-04-24 - Rhino Resources’ Capricornus 1-X exploration well achieved a flow rate exceeding 11,000 bbl/d offshore Namibia.