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!
Posted by GF at 4:29 PM