So, to "confirm" that I wasn't too far off the mark, here's another story (and perhaps I posted it last December). FuelFix is reporting, back on December 9, 2013:
A subsidiary of Denver-based producer QEP Resources is buying oil and gas properties in the Permian Basin for $950 million, a move to hike the oil production on its books, the company said Monday.
The properties, more than 26,500 net acres near Midland, have a daily production of 6,700 barrels of oil equivalent, 68 percent of which is oil. In terms of acreage, the deal would make QEP one of the smallest public operators in the Permian. All told, the acreage has 47 million barrels of oil equivalent in net proved reserves.For newbies: the "talk on the street" was that this 50-year-old basin, the Permian, was on its last legs before the Bakken laboratory came out of nowhere.
That works out to just under $35,850/producing mineral acre.
6,700 x $75 = $500,000 / day = $183 million / year
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.