Posted earlier:
COP: Maverick to buy some COP Permian Basin assets. Link here.
- $440 million
- 144,500 net acres
- back-of-the-envelope: $3,000 / acre
- remember when Permian was selling for $30,000 / arcr
- at $3,000 / acre priced in same neighborhood as the better Bakken
Update, January 28, 2022, link here:
Conoco's Central Basin Platform, marketed sometime during the first half of 2021, is sold. EIG-backed Maverick Nat is paying $440 million for over 11,000 boepd, 144,500 net acres. Interesting to see a whole syndicate of banks providing RBL to fund the deal.
Back of the envelope, as above, but now we have this new metric:
- $440 million / 11,000 boepd: $40,000 per flowing boepd -- on the very high side; great deal for COP; perhaps not so much for Maverick Nat?
Conoco is standing up 2 rigs in the Bakken.
ReplyDeleteAwesome! Thank you.
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