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Penn Virginia to Bolt On Eagle Ford Acreage in Lavaca County

Announced Date
July 11,2014
Deal Value $
45,000,000
Net Acres
11,660
Location Count
150
Transaction Type
Property
Buyer
Seller
Not Disclosed
Price Per BOE $
60,000
Source Documents:
   Source Link
Location
Region
Gulf Coast - South Texas

Country
United States

State
Texas

County
Lavaca

Play



Multiples
$Price/Net Acre
3,859

$Price/Adj. Net Acre
3,859

Transaction Details: 

Penn Virginia Corporation has entered into a definitive agreement to acquire approximately 13,125 (11,660 net) Eagle Ford Shale acres in Lavaca County, Texas for approximately $45 million, of which approximately $34 million will be paid at closing and the balance of approximately $11 million will be paid over time as a drilling carry.

The sale is expected to close in August 2014

The acquired acreage is adjacent to our Shiner area and is estimated to contain approximately 150 gross potential drilling locations, most of which we expect will be prospective in the Upper Eagle Ford Shale.

 



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