Tuesday, February 15, 2022

Brigham Minerals To Acquire Midland Basin Position -- February 15, 2022

Link here. And, here.

  • 1,800 net royalty acres
  • 225,000 - 275,000 boepd estimated for 2022
  • Midland Basin
  • largely operated by Pioneer Natural Resources and Endeavor Energy Resources
  • valued around $32.5 million
  • back-of-the-envelope:
  • $18,000 / acre
  • $32.5 million for 250,000 boepd? See first comment: this had to be an error. Here's the correction -- business wire ... link here ... 225 to 275 boepd. 

Prior, the largest MNRL deal was in the D-J Basin; link here;

  • $43 million + 2.2 million shares, ~$22 / share = $48 million = $91.4 million
  • $91.4 million / 8,400 acres = $11,000 / acre
  • $91.4 million / 1,200 boepd = $76,000 / boepd

Note: there may be a number of content / typographical errors. If this is important to you, go to the source.

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2 comments:

  1. AnonymousFebruary 16, 2022 at 9:41 PM

    I think the source had the typos! No way 250,000 boepd makes sense. Maybe 250,000 boepy.

    ReplyDelete
    Replies
    1. Bruce OksolFebruary 16, 2022 at 9:58 PM

      Thank you so much. I knew it had to be an error, but could not find a source at the time with a correct figure. We have it now: linked above. And yes, you are correct .... the correct production is 225 to 275 boepd, as per the BusinessWire link. Thank you for taking time to write to get this corrected.

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