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Energen Resources To Acquire Permian Basin Properties In Wolfberry Trend: A Move to Expand its Business - Deal Analysis From GlobalData - Product Image

Energen Resources To Acquire Permian Basin Properties In Wolfberry Trend: A Move to Expand its Business - Deal Analysis From GlobalData

  • Published: August 2010
  • Region: Global
  • 12 pages
  • GlobalData

Energen Resources To Acquire Permian Basin Properties In Wolfberry Trend: A Move to Expand its Business - Deal Analysis From GlobalData

Summary

Energen Resources Corporation (Energen Resources) signed a purchase and sale agreement to acquire oil and gas properties located in the Wolfberry trend in the Permian Basin, from a private seller, for a purchase consideration of $185m and standard closing adjustments. The acquisition comprises 8,700 net acres located in Martin County, Texas, in a prime location for development. The acquisition also includes 19 producing wells, and Energen has identified 142 Proved Undeveloped (PUD) locations and approximately 50 probable locations. The estimated proved reserves in the acquired properties total 18 million barrels of oil equivalent (MMboe) of which 16 MMboe (89%) are PUDs; sweet oil represents 65% of the total proved reserves; Natural Gas Liquids (NGL) comprise 22%; and natural gas makes up the remaining 13%. The acquisition also includes an estimated 6.2 MMboe of probable reserves. The transaction is expected to close on or before September 30, 2010. The transaction implies deal values of $10.29 per boe of proved reserves and $7.66 READ MORE >

1
1.1 List of Tables
1.2 List of Figures
2 Deal Analysis
2.1 Summary
2.2 Deal Overview
3 Energen Resources To Acquire Permian Basin Properties In Wolfberry Trend
3.1 Deal Overview
3.2 Deal in Brief
3.3 Energen Resources has Significant Operations in San Juan Basin and Permian Basin
3.4 Energen Resources is Enhancing its Business in Permian Basin Through Acquisitions
3.5 Wolfberry is Attracting Several Big Companies for Investment
3.6 Energen Resources is Strategically Enhancing its Core Assets
3.7 Deal Financials and Valuations
3.7.1 Companies Involved
3.7.2 Deal Financials
3.7.3 Deal Rationale
3.7.4 Detailed Target Information
3.7.5 Production and Reserves Information
3.7.6 Transaction Implied Values
3.7.7 Commodity Prices Information
3.7.8 Detailed Acquirer Information
4 Appendix
4.1 About Energy eTrack
4.2 Methodology
4.2.1 Coverage
4.2.2 Secondary Research
4.2.3 Primary Research
4.2.4 Expert Panel Validation
4.3 Contact Us
4.4 Disclaimer

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