Tuesday, December 10, 2013

QEP to acquire Permian Basin acreage for $950 million!

QEP announced it will acquire Permian Basin oil properties in Martin and Andrews counties for $950 million (click here).  The acquisition includes 6.7 mboe/d, 47 mmboe of net proved reserves and 26.5k acres.  Valuation metrics equate to $142k flowing barrel and $36,000/acre!

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