Oasis - SM Energy Deal In The Bakken: $14,000 / Acre -- October 19, 2016

More clarity on the recent Oasis - SM Energy deal.

October 19, 2016: Oil & Gas Journal on this deal:

• Oasis: acquires 55,000 net acres; 226 gross operated locations; from SM Energy; $785 million
• acquisition: 50 million boe of proved reserves; 63% of which is consider proved developed producing and 77% of which is oil; will produce 12,400 boe/d 4Q16
• Oasis: 3Q16 production averaged 48,509 boe/d; 81% oil
• Oasis: increased its full-year standalone company guidance to 50,000 boe/d
• Oasis: current well costs: now down to $5.2 million on 4-million-lb-slickwater completions
• Oasis' natural gas processing plant in Wild basin now online; operating as planned; will allow October, 2016, production to average over 50,000 boe/d

$785 million / 55,000 acres = $14,000/acre