Black Hills Corp Provides Deal Update in its Quarterly Report

Source Quarterly Report
Company Black Hills Corp 
Tags Tight Gas & Liquids, Unconventional Resources, Asset Deals, Deals, Upstream Activities
Date November 03, 2017

Oil and Gas

  • On Nov. 1, Black Hills’ board of directors authorized the sale of all remaining oil and gas assets and the exit of the business. The segment will be reported as discontinued operations beginning with fourth quarter results. The company has retained advisors to support its ongoing property sales efforts and plans to divest all remaining properties before the end of 2018.
  • Recently, Black Hills signed agreements to sell its San Juan Basin assets in New Mexico and certain Powder River Basin assets in Wyoming for a combined $28 million. The San Juan Basin transaction is subject to final approval from the U.S. Bureau of Indian Affairs and U.S. Bureau of Land Management. Both transactions are expected to close by year-end.
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