Updates
March 12, 2022: wow, wow, wow. See my figures below. They were my numbers; no other source except the blog. Now, look at what the "professional analysts" came up with over at SeekingAlpha:
- XOM produces: 138,000 boepd; I said: 135,000 boepd
- valuation of deal: $36,000 for flowing bbl; I said: $37,000
Later, 2:02 p.m. CT, Reuters: LOL. The Reuters article had nothing more than that -- Bakken assets for $5 billion. My data provided much more that. My data, right or wrong, at least a starting point.
Original Post
$5 billion? Other than the headline and the $5 billion figure, all other data points are mine.
- 600,000 net acres?
- $8,000 / acre
- 135,000 boepd?
- $37,000 / boepd
More to come, I'm sure.
By the way, if any reader gets an offer from a landman, she/he will quote an offer in dollars / net mineral acre.
A landman has told me that a better (?) method for a "mature" basin is an offer / quote in dollars / flowing boepd.
If you don't have production data for your wells, and you are curious, let me know and I can provide most recent production. I probably don't have the time for a request for more than a dozen wells or so, from more than three or four readers.
The other option is to ask the individual who offers you dollars for your mineral rights, ask her/him to provide the offer in a "per boepd" format.
Back to XOM and the Bakken.
Harold Hamm is salivating.
He just bought $20 million of his company's stock.
But XOM assets in the Bakken, $5 billion. But CLR:
- $20 billion market cap;
- $60 million in cash
- debt: $7 billion
- operating cash flow: $4 billion
- XOM: 135,000 boepd x $40 / boepd = $8 million / day = $2 billion / year
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AXP Raises Dividend
American Express to raise its 43-cent quarterly dividend to 52 cents.
a 21% increase in its quarterly dividend.
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The Players
PGA tournament starts today.
Rain delay. Bryson playing? A Saudi Sands casualty? He played this tournament last year.
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Manslaughter? Two Years House Arrest
"Felony manslaughter" reduced to "felony battery."
Sounds like the 77-year-old man needed to be taken out. He was known as a regular trouble-maker. Apparently defunding the police offers other solutions.
And people are upset Russia has detained American athlete found to be carrying hashish in her baggage.
Meanwhile, this guy, same charge, a single punch kills a guy, is given two years in federal prison followed by two years probation. But two years for killing a guy?
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