Latest News and Analysis
Deals and Transactions
Track Drilling (Rigs by operator) | Completions (Frac Spreads)

    emailEmail    |    bookmarkBookmark

Carrizo Exits DJ Basin; Sells Off Assets for $140MM

Announced Date
November 27,2017
Deal Value $
140,000,000
Net Acres
30,600
Location Count
640
Transaction Type
Property
Buyer
Verdad Resources LLC
Seller
Carrizo Oil & Gas Inc.
Price Per BOE $
40,000
Source Documents:
   Source Link
Location
Region
Rockies - DJ Basin

Country
United States

State
Colorado

County
Weld

Play
DJ Basin


Production
Production
2,427 Boe/d

Production Mix
69 % Oil


Multiples
Production ($/boe/d)
57,684

$Price/Net Acre
4,575

$Price/Adj. Net Acre
1,403

$/Location
67,063

Adj. $/acre is based on production @40,000 Boe/d

Transaction Details: 

Carrizo has agreed to sell its entire non-op DJ Basin property $140 million in cash to Verdad Oil & Gas Corp. 

Property Highlights:

  • Production                : 2,427 BOEPD (69% oil)
  • Land & Leasehold      : 30,600 net acres
  • Resource Potential      : 125 MMboe
  • Locations                  : 640 Well Locations

The transaction is currently expected to close in January 2018.

This sales marks the end of the transformation for the company that saw it selling off the Marcellus, and Utica properties.

 

Rockies - DJ Basin Deal Activity In Last 12 Months



Announced DateBuyerSellerDeal Value($mm)LocationCategory
Jan-11-2024 - - Click here Colorado  E&P
Sep-06-2022 - - Click here   E&P
May-18-2022 - - Click here   E&P
Feb-28-2022 - - Click here Colorado  E&P
Feb-01-2022 - - Click here Colorado  E&P

Price History


Date Deal Headline Price$/acre
Sep-06-2022 Sitio Royalties, Brigham to Merge in All-Stock Deal Worth $4.8 Billion - -
Feb-28-2022 PDC Acquires DJ Basin E&P Great Western in $1.3B Deal - -
Nov-15-2017 Extraction Acquires 36,600 Net DJ Basin Acres for $214MM - -

Announced DateBuyerSellerDeal Value($mm)LocationCategory
Jul-15-2019 - - Click here Texas  E&P
Aug-14-2018 - - Click here Texas  E&P
Dec-12-2017 - - Click here Texas  E&P
Oct-06-2017 - - Click here Pennsylvania  E&P
Sep-05-2017 - - Click here Ohio  E&P