One-Page Deal Sheet
Athlon Energy Acquires Midland Basin Assets For $88 million
Athlon Energy Inc. Not Disclosed
Announced Date
January 24,2014
Effective Date
September 01,2013
Close Date
February 06,2014
Transaction Type
Property
Enterprise Value (EV)($MM)
88
Asset/Basin:
{"Permian - Midland Basin"}
TargetZones:
{"Wolfcamp A","Wolfc
Net Acres
% Oil:
Proved Reserves
Location
Calculated Metrics( EV/Category)
Region
Permian - Midland Basin
Country
United States
State
Texas
County
Upton ,Martin ,Andrews ,Midland
Play
Production & Reserves Production
Reserves
Calculated Metrics( EV/Category)
$/ Flowing
$/ Acre
$/Location
Transaction Details: Require Private Equity Subscription
Athlon Energy Inc. has entered into a purchase and sale agreement with undisclosed sellers to acquire certain assets in the northern Midland Basin totaling approximately 5,645 net acres for $88 million in cash.
The properties are concentrated near the Company’s existing operating areas in Midland, Upton, Martin, and Andrews counties, with current production of approximately 750 BOE/D (60% oil).
Other highlights include: 70 gross horizontal Wolfcamp A, Wolfcamp B and Cline locations (~5,000 ft. lateral average); 58 gross producing vertical wells and 250 additional gross vertical locations; 2.9…Permian - Midland Basin Deal Activity In Last 12 Months
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