The latest issue of A&D Watch Weekly was released today and included some exciting comments. An article about Permian Basin values stated that there is still great deal price upside in the basin. The article states further that the Permian has a lot of room to go up due to the potential of several stacked payzones and that development is easier in the Permian than most other basins due to the ease of doing oil development in Texas and the few surface obstacles.
Ward Polzin, head of A&D for Tudor Pickering, Holt & Co. Securities, Inc., was quoted in the article saying that the Cline shale play is the "next new hot thing, no question about it," and that the "Cline is the real thing."
Monday's release regarding the Eagle Energy Trust acquisition and $38,600/acre valuation backs up the comments from the A&D article.