MRO To Acquire Oklahoma Energy Company, PayRock Energy Holdings, LLC, Almost A Billion Dollars -- June 20, 2016

Link here. Data points:

• will acquire from EnCap Investments
• $888 million
• 61,000 net surface acres
• producing 9,000 bopd
• Anadarko Basin STACK (Sooner Trend (oil field), Anadarko (basin), Canadian and Kingfisher (counties)
• MRO's 2016 budget: $1.4 billion

$888 million / 61,000 = $14,600 / acre.

At almost $15,000/acre this is very similar to recent acquisition in the Permian Basin, at about $15,500/acre.

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$80 Oil Next Year?

Link here. 

Rebounding after a two-year collapse, it's only this month that oil prices have pushed up past $50 a barrel, but Raymond James & Associates says this is just the beginning for higher prices.

In a note to clients, analysts led by J. Marshall Adkins say West Texas Intermediate will average $80 per barrel by the end of next year — that's higher than all but one of the 31 analysts surveyed by Bloomberg.