One-Page Deal Sheet
Energen Unit Adds to Bone Spring/Avalon Acreage Position
Energen Corp. Not Disclosed
Announced Date
April 06,2011
Transaction Type
Property
Enterprise Value (EV)($MM)
37
Asset/Basin:
{"Permian Basin"}
TargetZones:
{"Third Bone Spring"
Net Acres
Net Operated Locations:
Location
Calculated Metrics( EV/Category)
Region
Permian
Country
United States
State
Texas
County
Reeves
Play
Calculated Metrics( EV/Category)
$/ Acre
$/Location
Transaction Details: Subscribe to see
Energen Resources Corporation, has purchased five-year leases for more than 11,000 net acres in the Bone Spring and Avalon shale trends in the Permian Basin in the Texas General Land Office sealed bid sale. The total purchase price was $37 million.
Based on 320-acre spacing, the company estimates that the acreage, primarily in Reeves County, offers the potential for approximately 30 Bone Spring locations and 30 Avalon shale locations.
Together with existing acreage, the new leases bring Energen Resources' total 3rd Bone Spring position to more than 61,000 net undeveloped acres with 180…
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