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Devon to Divest Granite Wash Properties for $310 Million

Devon Energy has agreed to sell its non-core position in the Anadarko Basin's Granite Wash area for $310 million.

Net production associated with these properties averaged 14,000 Boe per day



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Top  Operators ( Jan 1, 2016 - Jul 26, 2016)

Enervest Ltd. ( 2 )   

Le Norman Operating Llc ( 2 )   

Unit Petroleum Co ( 1 )   

Fourpoint Energy Llc ( 1 )   

Chesapeake Energy Corporation ( 1 )   

BP Plc ( 1 )

 Drilling Permits Trends ( Jan 2015 - Jul 2016)

Drilling Permits ( June 26, 2016 - July 26, 2016)
Date Approved Company county Lease Well# Well type Field/Zone
06-27-2016 Le Norman Operating Llc Wheeler Britt Ranch Unit 3615h Stiles Ranch ( Granite Wash Cons )

Granite Wash Rig Activity : Source Baker Hughes
  Last Count Count Change from Prior Count Date of Prior Count Change from Last Year Date of Last Year's Count
All Jul 22, 2016 9 1 Jul 15, 2016 -8 Jul 24, 2015
HORIZONTAL Jul 22, 2016 8 1 Jul 15, 2016 -9 Jul 24, 2015
GAS Jul 22, 2016 0 0 Jul 15, 2016 0 Jul 24, 2015
OIL Jul 22, 2016 9 1 Jul 15, 2016 -8 Jul 24, 2015


Granite Wash Overview



The Granite Wash is a tight-gas play located in the Anadarko Basin, which spans across the Texas Panhandle and southern Oklahoma. The play is generally known for its deep natural gas resources, which can be found at depths up to 17,000 feet.

 

 Granite Wash Map



  Granite Wash - Mergers & Acquisitions

Announce DateHeadlineBuyerSellerValue $MMType
06/06/2016 Devon to Divest Granite Wash Properties for $310 Million $310 Property
02/25/2016 Fire Sale : Chesapeake Sells 473,000 Net Acres For $385 Million $385 Property
11/17/2014 Forest Oil to Shed Arkoma Basin Properties $185 Property
10/03/2014 LINN Energy Sells Granite Wash, Cleveland Assets for $1.95 Billion $1,950 Property
07/30/2014 Newfield Finalizes Sale of Granite Wash Property $588 Property
05/07/2014 EnerVest, Fourpoint to Jointly Acquire Granite Wash Property $275 Property
05/06/2014 QEP Sells Midcontinent Propperties For $772 Million $772 Property
05/06/2014 Sabine, Forest Oil Finalize All-Stock Merger Deal --- M&A
11/14/2013 Lighthouse Oil and Gas Closes on Granite Wash Property --- Property
11/08/2013 Eagle Energy Trust Bolts On Granite Wash Assets $26 Property
 

Granite Wash Transactions By Month ($MM)

Granite Wash Strats, Maps, Type Logs and More
Generalized Cross-Section of Anadarko Basin
Anadarko Basin Stratigraphy Chart
Granite Wash Stack Play
The Texas Panhandle Fairway: Stacked Pay Zones
Granite Wash Map