One-Page Deal Sheet
Energen Corporation Purchases Permian Leases
Energen Corp. Not Disclosed
Announced Date
January 07,2011
Close Date
January 07,2011
Transaction Type
Property
Enterprise Value (EV)($MM)
15
Asset/Basin:
{"Permian Basin","Delaware Basin"}
TargetZones:
{"Third Bone Spring
Net Acres
Net Operated Locations:
Location
Calculated Metrics( EV/Category)
Region
Permian - Delaware Basin
Country
United States
State
Texas
County
Ward ,Loving ,Winkler ,Reeves
Play
Calculated Metrics( EV/Category)
$/ Acre
$/Location
Transaction Details: Subscribe to see
Energen Corporation today announced that its oil and gas exploration and production company, Energen Resources Corporation, has purchased three-year leases for approximately 17,000 net acres in the Bone Spring and Avalon shale trends in the Permian Basin from various Texas state agencies and other entities for $15.3 million.
Based on 320-acre spacing, the company estimates that the acreage in Reeves, Ward, Loving, and Winkler counties offer potential for approximately 50 Bone Spring locations and 50 Avalon shale locations.
A horizontal drilling play targeting the 3rd Bone Spring Sands at a…
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