XOM To Sell Bakken Assets? Bloomberg -- March 10, 2022

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.  

Link here.

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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Link here.

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