Energen announced that they plan to acquire 3,200 Wolfberry acres for $65.8 million on Friday. They are acquiring the acreage from a private seller. The metrics for this deal equate to $20,300/acre.
With all of the recent Wolfberry sales, we believe that it's only time before the market realizes the value of Lynden Energy Corp.'s Wolfberry land. See our previous post for our valuations based upon Lynden's acreage.