$40K For Flowing BOEPD In The Permian -- January 28, 2022

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?