EnCap Investments-backed Grayson Mill Energy completed the acquisition of the interests in the Bakken field in the US states of North Dakota and Montana of Equinor for $900m.

EnCap Investments-backed Grayson Mill Energy, a Houston-based exploration and production company, completed the acquisition of the interests in the Bakken field in the US states of North Dakota and Montana of Equinor, an oil producer, for $900m. “We are taking action to improve the profitability of Equinor’s international oil and gas business. Today’s announcement on the exit of our Bakken assets is an important step in this process. We have worked closely with Grayson Mill Energy to preserve jobs and to ensure the transfer of expertise in the best possible way,” Al Cook, Equinor Executive Vice President of Development & Production International.