One-Page Deal Sheet
Devon Sells East Texas Property To Sheridan For $525 Million
Sheridan Production Partners Devon Energy Corp
Announced Date
June 06,2016
Transaction Type
Property
Enterprise Value (EV)($MM)
525
Asset/Basin:
{"East Texas",Ark-La-Tex}
Net Acres
% Oil:
Proved Reserves
Location
Calculated Metrics( EV/Category)
Region
Ark-La-Tex
Country
United States
State
Texas
Play
Production & Reserves Production
Production Mix
Reserves
Calculated Metrics( EV/Category)
$/ Flowing
$/ Acre
Production ($/Mcfe/d)
Transaction Details: Subscribe to see
Devon Energy has entered an agreement to divest upstream assets in east Texas for $525 million. Shale Experts was able to confirm that the buyer was Sheridan
Net production from these properties averaged 22,000 oil-equivalent barrels (Boe/d) per day in the first quarter of 2016, of which approximately 5 percent was oil. Field-level cash flow accompanying these assets, which excludes overhead costs, totaled $10 million in the first quarter.
At Dec. 31, 2015, proved reserves associated with these properties amounted to approximately 87 million Boe (87 MMboe).
Jefferies LLC acted as the lead…
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| Date | Deal Headline | Price | $/acre |
|---|---|---|---|
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