Denver, CO-based Sequel Energy LLC, GE Energy Financial Services, and Lucas Capital Management LLC have sold their Williston Basin conventional oil and gas reserves in North Dakota to an undisclosed buyer for $210 million.
Privately held Sequel, through its ongoing partnership with GE Energy Financial Services, and equity investment from Lucas Capital, retained ownership in the Bakken and Three Forks shale, including approximately 4,100 barrels of oil equivalent daily net production and 53,000 net acres of leasehold in North Dakota’s Williston Basin. The company will continue to focus on its operated drilling programs in Williams and McKenzie County. Sequel’s Williams County program, initiated in mid-2012, is successful. The company is expected to complete its first McKenzie County well by the end of September.