Monday, July 28, 2014

RSP Permian enters into agreements for 6,652 net acres for $259 million

RSP Permian entered into agreements to purchase 6,652 net acres in Glasscock County for $259 million (click here).  Valuation metrics are $39,000/acre and $234k/flowing barrel.

Monday, July 21, 2014

Diamondback announces deal to purchase Midland Basin interests for $538 million

Diamondback Energy announced a deal to purchase leasehold interests in the Midland Basin for $538 million (click here).  The acquisition includes 13,136 net acres, 2,173 boe/d and 94 net producing wells.  Valuation metrics for this deal are $40,956/net acre and $247,584/flowing barrel.

Applying these metrics to Lynden Energy Corp.'s Wolfberry assets are as follows:

$40,956/net acre x 5,883 net acres = $241 million US ($1.80/share CAD)
$247,584/flowing barrel x 1,250 boe/d = $310 million US ($2.32/share CAD)

LVL's metrics do not include any valuation for their 51,000 acres at Mitchell Ranch.

Monday, July 7, 2014

Antares Energy receives offer

Antares Energy received a $300m offer.  They have 4,697 net Wolfberry acres producing 1,204 boe/d from 48 wells at their Southern Star producing acreage.  Also 11,984 net acres producing 146 boe/d at Northern Star and 11,000 net undeveloped acres at Big Star.