Thursday, April 15, 2010

Apache and Mariner Energy Enter Deal Worth $2.7 Billion

Apache Resources announced that they are acquiring Mariner Energy in a deal valued at $2.7 billion. Mariner is one of the companies that is currently developing the Wolfberry play in West Texas. Mariner has a substantial land position in the Permian basin including Wolfberry acreage. M&A activity in the Permian Basin continues to occur with large valuations given to Wolfberry potential.

All of the recent Wolfberry activity continues to bring attention to the area and the companies developing those zones. Lynden Energy Corp. (LVL) is one of those companies that is positioning themselves very well in the Wolfberry play.

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