Tuesday, February 18, 2014

Diamondback to purchase Permian acreage in Martin County for $61,500/acre!

Diamond Energy announced it has entered into agreements to purchase 6,450 gross (2,825 net) acres in Martin County with a 43.8% net revenue interest and production of 1,600 boe/d for $174 million.  This transaction equates to $61,500/acre! (click here)

Lynden Energy has a 43.75% interest in 2,817 net acres (1,232 net acres) at their West Martin project in Martin County.

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