Antares Energy released news yesterday stating that they acquired Wolfberry assets in Western Howard County for $62 million for 3,109 net acres. This acquisition equals $19,942/acre.
Also, Berry Petroleum announced that they have entered into agreements to purchase 6,000 net Wolfberry acres for $123 million. This equals $20,500/acre.
Two good comps for Wolfberry/Wolfcamp and Lynden Energy!
Showing posts with label Berry Petroleum. Show all posts
Showing posts with label Berry Petroleum. Show all posts
Friday, April 29, 2011
Friday, November 5, 2010
Action is Clearly Heating Up in the Wolfberry Play
Four recent deals have been announced in the past few days:
Berry Petroleum entered an agreement on October 25 to purchase 9,300 acres in the Wolfberry trend for $180 million. This deal is valued at $19,354/acre.
Energen Resources Corporation signed an agreement on November 1 to purchase 10,360 net Wolfberry acres for $75 million. This deal includes six producing wells and is valued at $7,239/acre.
Also on November 1, Approach Resources acquired 5,033 net Wolffork acres for $21.5 million ($4,272/acre). The asset inlcudes 470 boe/d of current production.
PDC Energy announced on November 3 that it entered into an agreement to acquire 5,760 Wolfberry acres for $40 million ($6,944/acre). This deal includes six wells.
Clearly, this flurry of recent activity is bringing a lot of attention to the Wolfberry Play in West Texas. Lynden Energy Corp. (LVL) has over 5,000 acres in their Wolfberry core area and a 50% interest in the 101,495 acre Mitchell Ranch. It appears that it is only a matter of time before LVL's stock price sees a significant rise!
Berry Petroleum entered an agreement on October 25 to purchase 9,300 acres in the Wolfberry trend for $180 million. This deal is valued at $19,354/acre.
Energen Resources Corporation signed an agreement on November 1 to purchase 10,360 net Wolfberry acres for $75 million. This deal includes six producing wells and is valued at $7,239/acre.
Also on November 1, Approach Resources acquired 5,033 net Wolffork acres for $21.5 million ($4,272/acre). The asset inlcudes 470 boe/d of current production.
PDC Energy announced on November 3 that it entered into an agreement to acquire 5,760 Wolfberry acres for $40 million ($6,944/acre). This deal includes six wells.
Clearly, this flurry of recent activity is bringing a lot of attention to the Wolfberry Play in West Texas. Lynden Energy Corp. (LVL) has over 5,000 acres in their Wolfberry core area and a 50% interest in the 101,495 acre Mitchell Ranch. It appears that it is only a matter of time before LVL's stock price sees a significant rise!
Thursday, February 4, 2010
Permian Basin Gaining More Attention
The Houston Chronicle published an article on January 30 about the Permian Basin. They stated that the basin is looking more attractive and that several oil and gas companies have recently struck deals to enter the basin and diversify production away from natural gas to oil.
Recent deals that have occurred in the Permian Basin:
- Sand Ridge closed an $800M deal to buy Permian Basin Properties from Forest Oil Corp. in December
- Concho Resources agreed to a $225M deal with private sellers for Permian Properties in November
- Linn Energy said in December it would acquire properties in the Permian and Anadarko basins for $155M
- Vanguard Natural Resources closed a $55M deal for Permian Basin Properties in January
- Berry Petroleum announced in January that it would buy Permian Basin oil properties in the Wolfberry trend for $126M
These deals demonstrate that others are willing to pay large sums for Wolfberry and Permian acreage. Lynden Energy Corp.’s (LVL) opportunity is outstanding!
Recent deals that have occurred in the Permian Basin:
- Sand Ridge closed an $800M deal to buy Permian Basin Properties from Forest Oil Corp. in December
- Concho Resources agreed to a $225M deal with private sellers for Permian Properties in November
- Linn Energy said in December it would acquire properties in the Permian and Anadarko basins for $155M
- Vanguard Natural Resources closed a $55M deal for Permian Basin Properties in January
- Berry Petroleum announced in January that it would buy Permian Basin oil properties in the Wolfberry trend for $126M
These deals demonstrate that others are willing to pay large sums for Wolfberry and Permian acreage. Lynden Energy Corp.’s (LVL) opportunity is outstanding!
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