NOG: 4Q24 Operational Update; Announces $40 Million Bolt-On Acquisition -- February 13 ,2025

Locator: 48551NOG.

Link here. 

Bolt-on acquisition:

• early 2025
• signed definitive agreement to acquire 2,275 net acres
• $40 million
• Upton County, TX, in Midland Basin
• back-of-the-envelope:
• $40 million / 2,275 acres = $18,000 / acre -- which seems to be an incredible price to pay in the Permian

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Eggs

Americans may be priced out of eggs but here in north Texas, no shortage of right-priced beer. Tariffs on German beer would be unfortunate but, in the big scheme of things, a minor inconvenience.