Vinson & Elkins Reps QEP In $1.4B Buy Of Shale Assets

Law360, New York (August 24, 2012, 12:05 PM EDT) -- QEP Resources Inc. has purchased shale plays in the Bakken and Three Forks Shales in North Dakota from several sellers, including Black Hills Corp. and Unit Corp., for roughly $1.4 billion, the Colorado energy company said Thursday evening.

The acreage, which has estimated reserves of 125 million barrels of oil equivalent, is located in the fossil fuel-rich Williston Basin in in North Dakota's Williams and McKenzie counties, near QEP's existing plays in the basin, QEP said.

QEP will operate 90 percent of the producing wells and...
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