One-Page Deal Sheet
Diamondback Adds to Midland Position in Martin County
Diamondback Energy, Inc. Not Disclosed
Announced Date
February 18,2014
Close Date
February 28,2014
Transaction Type
Property
Enterprise Value (EV)($MM)
174
Asset/Basin:
{"Permian (Midland)"}
TargetZones:
{"Wolfcamp B","Lower
Net Acres
% Oil:
Proved Reserves
Location
Calculated Metrics( EV/Category)
Region
Permian
Country
United States
State
Texas
County
Martin
Play
Production & Reserves Production
Reserves
Calculated Metrics( EV/Category)
$/ Flowing
$/ Acre
$/Location
Transaction Details: Subscribe to see
Diamondback Energy, Inc. has entered into definitive purchase agreements with unrelated third party sellers to acquire additional leasehold interests in Martin County, Texas, in the Permian Basin, for an aggregate purchase price of approximately $174 million, subject to certain adjustments.
This transaction includes 6,450 gross (2,825 net) acres with a 43.8% working interest (75% net revenue interest) and net production of approximately 1,600 BOE/d (approximately 75% oil) in November 2013 from 145 gross (63 net) producing vertical wells. Net proved reserves, based on our internal estimates as…
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